Wells Fargo & Company Boosts Wynn Resorts (NASDAQ:WYNN) Price Target to $125.00

Wynn Resorts (NASDAQ:WYNN) had its target price upped by Wells Fargo & Company from $115.00 to $125.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have an overweight rating on the casino operator’s stock.

WYNN has been the topic of several other reports. Macquarie restated an “outperform” rating and set a $126.00 target price on shares of Wynn Resorts in a report on Wednesday, August 7th. Barclays boosted their price objective on Wynn Resorts from $108.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday. Stifel Nicolaus cut their target price on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research note on Friday, September 13th. Jefferies Financial Group reduced their price target on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Wynn Resorts currently has a consensus rating of “Moderate Buy” and an average target price of $115.67.

Wynn Resorts Trading Up 1.5 %

Shares of WYNN opened at $99.44 on Thursday. The firm has a market cap of $11.14 billion, a P/E ratio of 13.62, a PEG ratio of 2.68 and a beta of 1.81. Wynn Resorts has a 12 month low of $71.63 and a 12 month high of $110.38. The stock’s 50 day moving average is $85.42 and its two-hundred day moving average is $89.25.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.02). Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the prior year, the business posted $0.91 earnings per share. The business’s quarterly revenue was up 8.4% on a year-over-year basis. Equities research analysts forecast that Wynn Resorts will post 5.44 EPS for the current year.

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date was Monday, August 19th. Wynn Resorts’s dividend payout ratio is currently 13.70%.

Insider Activity at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,650 shares of Wynn Resorts stock in a transaction on Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the transaction, the director now owns 5,689 shares of the company’s stock, valued at $447,894.97. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.52% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Wynn Resorts

Several hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC purchased a new position in Wynn Resorts during the second quarter worth $25,000. Register Financial Advisors LLC acquired a new position in Wynn Resorts in the 1st quarter valued at about $37,000. Blue Trust Inc. lifted its holdings in Wynn Resorts by 556.0% in the 3rd quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after purchasing an additional 467 shares in the last quarter. Versant Capital Management Inc purchased a new position in Wynn Resorts in the 2nd quarter valued at about $51,000. Finally, Covestor Ltd boosted its stake in shares of Wynn Resorts by 421.7% during the 1st quarter. Covestor Ltd now owns 626 shares of the casino operator’s stock worth $64,000 after purchasing an additional 506 shares during the last quarter. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

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.