Wynn Resorts (NASDAQ:WYNN) Price Target Raised to $113.00

Wynn Resorts (NASDAQ:WYNN) had its price objective hoisted by JPMorgan Chase & Co. from $101.00 to $113.00 in a research note released on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the casino operator’s stock.

Other analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft lowered their price target on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research note on Tuesday. Stifel Nicolaus lowered their target price on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research note on Friday, September 13th. UBS Group raised shares of Wynn Resorts to a “hold” rating in a research report on Friday, August 23rd. Morgan Stanley raised their price objective on Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Finally, Jefferies Financial Group decreased their target price on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $115.71.

Wynn Resorts Trading Up 2.2 %

Wynn Resorts stock opened at $87.17 on Tuesday. Wynn Resorts has a 1 year low of $71.63 and a 1 year high of $110.38. The company’s 50-day moving average is $90.81 and its two-hundred day moving average is $88.65. The company has a market cap of $9.67 billion, a PE ratio of 10.75, a PEG ratio of 2.48 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The company had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.73 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 62.44%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the company earned $0.99 EPS. Research analysts forecast that Wynn Resorts will post 5.42 EPS for the current year.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.15%. Wynn Resorts’s dividend payout ratio (DPR) is presently 12.33%.

Insider Transactions at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the completion of the transaction, the director now owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.52% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Wynn Resorts

Several hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC bought a new stake in Wynn Resorts during the second quarter worth about $25,000. Blue Trust Inc. increased its position in shares of Wynn Resorts by 556.0% during the 3rd quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock worth $49,000 after purchasing an additional 467 shares during the last quarter. Versant Capital Management Inc bought a new stake in shares of Wynn Resorts during the 2nd quarter worth approximately $51,000. Covestor Ltd boosted its holdings in shares of Wynn Resorts by 421.7% in the 1st quarter. Covestor Ltd now owns 626 shares of the casino operator’s stock valued at $64,000 after buying an additional 506 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Wynn Resorts by 25.1% in the second quarter. GAMMA Investing LLC now owns 828 shares of the casino operator’s stock valued at $74,000 after buying an additional 166 shares in the last quarter. 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.