Wynn Resorts, Limited (NASDAQ:WYNN) Receives $116.36 Average Price Target from Analysts

Wynn Resorts, Limited (NASDAQ:WYNN) has been assigned an average recommendation of “Moderate Buy” from the fifteen research firms that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $116.36.

Several equities research analysts have recently weighed in on the stock. Barclays decreased their target price on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Morgan Stanley lifted their target price on Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group cut their price target on Wynn Resorts from $109.00 to $105.00 and set a “hold” rating for the company in a research note on Friday, January 3rd. Macquarie reiterated an “outperform” rating and issued a $120.00 price objective on shares of Wynn Resorts in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fisher Asset Management LLC grew its stake in Wynn Resorts by 70.7% in the 3rd quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock valued at $380,821,000 after acquiring an additional 1,644,965 shares during the last quarter. Holocene Advisors LP lifted its holdings in shares of Wynn Resorts by 27,868.5% in the third quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock valued at $72,672,000 after purchasing an additional 755,236 shares in the last quarter. Eagle Asset Management Inc. acquired a new stake in shares of Wynn Resorts in the third quarter valued at approximately $58,486,000. Renaissance Technologies LLC increased its stake in shares of Wynn Resorts by 29.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock worth $120,386,000 after purchasing an additional 303,033 shares in the last quarter. Finally, Weiss Asset Management LP acquired a new position in shares of Wynn Resorts during the 3rd quarter worth approximately $19,753,000. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Stock Down 0.0 %

WYNN opened at $81.15 on Monday. The firm has a market cap of $8.91 billion, a price-to-earnings ratio of 10.01, a price-to-earnings-growth ratio of 3.46 and a beta of 1.77. Wynn Resorts has a 52 week low of $71.63 and a 52 week high of $110.38. The business’s 50 day moving average is $89.49 and its two-hundred day moving average is $87.14.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.11). Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the company earned $0.99 EPS. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. Equities analysts expect that Wynn Resorts will post 4.79 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.23%. Wynn Resorts’s payout ratio is 12.33%.

Wynn Resorts Company Profile

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.