Wynn Resorts (NASDAQ:WYNN) Price Target Increased to $124.00 by Analysts at Barclays

Wynn Resorts (NASDAQ:WYNN) had its target price upped by Barclays from $123.00 to $124.00 in a report released on Friday morning, Benzinga reports. Barclays currently has an overweight rating on the casino operator’s stock.

Several other research firms also recently commented on WYNN. Morgan Stanley raised their price objective on shares of Wynn Resorts from $107.00 to $114.00 and gave the stock an equal weight rating in a report on Tuesday, April 9th. UBS Group cut their price target on shares of Wynn Resorts from $117.00 to $108.00 and set a neutral rating for the company in a report on Tuesday, February 6th. Wells Fargo & Company raised their price target on shares of Wynn Resorts from $122.00 to $124.00 and gave the company an overweight rating in a report on Thursday, February 8th. Mizuho started coverage on shares of Wynn Resorts in a report on Thursday, April 4th. They issued a buy rating and a $131.00 price target for the company. Finally, Bank Of America (Bofa) raised their price target on shares of Wynn Resorts from $95.00 to $105.00 and gave the company a neutral rating in a report on Wednesday, January 17th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Wynn Resorts currently has a consensus rating of Moderate Buy and an average price target of $121.43.

Wynn Resorts Stock Performance

NASDAQ:WYNN opened at $97.48 on Friday. Wynn Resorts has a 52 week low of $81.65 and a 52 week high of $117.86. The firm has a 50-day moving average price of $102.12 and a two-hundred day moving average price of $94.99. The firm has a market cap of $10.93 billion, a price-to-earnings ratio of 16.30 and a beta of 1.93.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Wednesday, February 7th. The casino operator reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.76. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a net margin of 11.18% and a negative return on equity of 31.17%. The company’s revenue was up 83.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.23) EPS. As a group, sell-side analysts forecast that Wynn Resorts will post 5.37 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Tuesday, February 20th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.03%. The ex-dividend date was Friday, February 16th. Wynn Resorts’s dividend payout ratio (DPR) is currently 16.72%.

Insider Buying and Selling

In related news, Director Patricia Mulroy sold 960 shares of Wynn Resorts stock in a transaction on Friday, February 9th. The shares were sold at an average price of $105.17, for a total value of $100,963.20. Following the transaction, the director now owns 522 shares in the company, valued at approximately $54,898.74. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Wynn Resorts news, Director Patricia Mulroy sold 960 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $105.17, for a total value of $100,963.20. Following the sale, the director now owns 522 shares of the company’s stock, valued at approximately $54,898.74. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Craig Scott Billings sold 19,235 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $108.00, for a total transaction of $2,077,380.00. Following the completion of the sale, the chief executive officer now directly owns 307,904 shares in the company, valued at approximately $33,253,632. The disclosure for this sale can be found here. Insiders have sold a total of 26,578 shares of company stock worth $2,850,282 in the last 90 days. 0.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On Wynn Resorts

A number of large investors have recently modified their holdings of WYNN. Blue Trust Inc. boosted its stake in shares of Wynn Resorts by 3,000.0% during the 4th quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock valued at $25,000 after purchasing an additional 270 shares in the last quarter. ICA Group Wealth Management LLC bought a new stake in shares of Wynn Resorts during the 4th quarter valued at about $27,000. Sunbelt Securities Inc. boosted its stake in Wynn Resorts by 4,285.7% during the third quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock worth $28,000 after acquiring an additional 300 shares in the last quarter. Register Financial Advisors LLC bought a new stake in Wynn Resorts during the first quarter worth about $37,000. Finally, GAMMA Investing LLC bought a new stake in Wynn Resorts during the fourth quarter worth about $38,000. Institutional investors own 68.87% of the company’s stock.

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.