Wynn Resorts, Limited (NASDAQ:WYNN) Receives $129.64 Consensus PT from Analysts

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) have been given a consensus rating of “Moderate Buy” by the fourteen analysts that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $131.25.

A number of research analysts recently issued reports on WYNN shares. Argus upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a report on Wednesday, September 3rd. UBS Group raised shares of Wynn Resorts from a “neutral” rating to a “buy” rating and boosted their price target for the company from $101.00 to $147.00 in a report on Thursday, August 28th. Mizuho raised their price objective on Wynn Resorts from $122.00 to $126.00 and gave the stock an “outperform” rating in a research note on Monday, August 11th. Jefferies Financial Group boosted their target price on Wynn Resorts from $130.00 to $133.00 and gave the company a “buy” rating in a research note on Monday, August 11th. Finally, JPMorgan Chase & Co. increased their price target on Wynn Resorts from $123.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th.

Insider Buying and Selling at Wynn Resorts

In other news, Director Patricia Mulroy sold 4,438 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total transaction of $554,750.00. Following the completion of the sale, the director owned 3,066 shares of the company’s stock, valued at $383,250. This represents a 59.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.52% of the stock is owned by company insiders.

Hedge Funds Weigh In On Wynn Resorts

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Westside Investment Management Inc. lifted its holdings in shares of Wynn Resorts by 40.2% in the third quarter. Westside Investment Management Inc. now owns 338 shares of the casino operator’s stock valued at $44,000 after purchasing an additional 97 shares in the last quarter. Private Wealth Partners LLC raised its position in Wynn Resorts by 3.1% in the 2nd quarter. Private Wealth Partners LLC now owns 3,360 shares of the casino operator’s stock valued at $315,000 after buying an additional 100 shares during the last quarter. UMB Bank n.a. lifted its stake in Wynn Resorts by 41.5% in the 3rd quarter. UMB Bank n.a. now owns 385 shares of the casino operator’s stock valued at $49,000 after acquiring an additional 113 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in Wynn Resorts by 1.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 12,356 shares of the casino operator’s stock worth $1,167,000 after acquiring an additional 127 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its stake in shares of Wynn Resorts by 1.9% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 7,057 shares of the casino operator’s stock worth $589,000 after acquiring an additional 132 shares in the last quarter. 88.64% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Trading Down 2.1%

NASDAQ WYNN opened at $122.54 on Friday. Wynn Resorts has a 12 month low of $65.25 and a 12 month high of $134.23. The stock has a 50-day simple moving average of $123.54 and a 200 day simple moving average of $106.91. The company has a market capitalization of $12.74 billion, a PE ratio of 36.80, a P/E/G ratio of 4.94 and a beta of 1.32.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Thursday, November 6th. The casino operator reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.23). The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.76 billion. Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%.Wynn Resorts’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the business posted $0.90 EPS. As a group, sell-side analysts predict that Wynn Resorts will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Monday, November 17th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, November 17th. Wynn Resorts’s dividend payout ratio (DPR) is 30.03%.

About Wynn Resorts

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.