Jefferies Financial Group Cuts Wynn Resorts (NASDAQ:WYNN) Price Target to $150.00

Wynn Resorts (NASDAQ:WYNN) had its price objective cut by Jefferies Financial Group from $161.00 to $150.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a buy rating on the casino operator’s stock.

Other equities analysts have also issued research reports about the stock. UBS Group reaffirmed a “buy” rating on shares of Wynn Resorts in a research report on Monday, February 23rd. Deutsche Bank Aktiengesellschaft set a $144.00 price target on shares of Wynn Resorts in a report on Friday, February 13th. Texas Capital raised shares of Wynn Resorts to a “strong-buy” rating in a report on Thursday, January 8th. Macquarie Infrastructure reissued an “outperform” rating and issued a $143.00 price target on shares of Wynn Resorts in a report on Monday, December 8th. Finally, Wells Fargo & Company lowered their price target on shares of Wynn Resorts from $152.00 to $147.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $138.53.

Wynn Resorts Trading Up 4.8%

Shares of WYNN stock opened at $105.24 on Monday. Wynn Resorts has a 1 year low of $65.72 and a 1 year high of $134.72. The firm’s fifty day simple moving average is $106.22 and its 200 day simple moving average is $116.79. The firm has a market capitalization of $10.95 billion, a P/E ratio of 35.08, a price-to-earnings-growth ratio of 8.67 and a beta of 1.04.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Thursday, February 12th. The casino operator reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.16). Wynn Resorts had a negative return on equity of 39.05% and a net margin of 4.59%.The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the firm posted $2.42 EPS. The company’s revenue was up 1.5% compared to the same quarter last year. Equities research analysts anticipate that Wynn Resorts will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. Wynn Resorts’s payout ratio is currently 33.33%.

Hedge Funds Weigh In On Wynn Resorts

Institutional investors have recently modified their holdings of the stock. MUFG Securities EMEA plc bought a new position in shares of Wynn Resorts in the second quarter worth about $25,000. Root Financial Partners LLC bought a new position in shares of Wynn Resorts in the third quarter worth about $26,000. Hantz Financial Services Inc. raised its stake in shares of Wynn Resorts by 54.9% in the fourth quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock worth $30,000 after acquiring an additional 89 shares during the last quarter. Steigerwald Gordon & Koch Inc. acquired a new position in Wynn Resorts during the 3rd quarter valued at about $31,000. Finally, Cromwell Holdings LLC lifted its position in Wynn Resorts by 68.2% during the 4th quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock valued at $31,000 after purchasing an additional 103 shares during the period. 88.64% of the stock is owned by institutional investors.

Wynn Resorts Company Profile

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.