Wynn Resorts, Limited (NASDAQ:WYNN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Wynn Resorts, Limited (NASDAQ:WYNN) has been assigned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $114.20.

Several brokerages have recently weighed in on WYNN. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Wynn Resorts from $131.00 to $122.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Morgan Stanley raised shares of Wynn Resorts from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $97.00 to $104.00 in a report on Friday. Macquarie reissued an “outperform” rating and set a $126.00 target price on shares of Wynn Resorts in a report on Wednesday, August 7th. StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Finally, Stifel Nicolaus decreased their price objective on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a report on Friday, September 13th.

Wynn Resorts Price Performance

Shares of Wynn Resorts stock opened at $97.62 on Friday. The business has a 50 day moving average price of $78.63 and a 200 day moving average price of $89.28. The company has a market capitalization of $10.94 billion, a P/E ratio of 13.37, a P/E/G ratio of 2.17 and a beta of 1.80. Wynn Resorts has a 1 year low of $71.63 and a 1 year high of $110.38.

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

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, August 19th. This represents a $1.00 annualized dividend and a dividend yield of 1.02%. Wynn Resorts’s dividend payout ratio (DPR) is 13.70%.

Insiders Place Their Bets

In other news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the sale, the director now directly owns 5,689 shares of the company’s stock, valued at $447,894.97. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Wynn Resorts

Several hedge funds and other institutional investors have recently modified their holdings of WYNN. International Assets Investment Management LLC acquired a new stake in Wynn Resorts during the second quarter worth about $25,000. ICA Group Wealth Management LLC bought a new position in Wynn Resorts during the fourth quarter worth about $27,000. Register Financial Advisors LLC acquired a new stake in Wynn Resorts during the first quarter valued at approximately $37,000. Neo Ivy Capital Management bought a new stake in shares of Wynn Resorts in the 4th quarter valued at approximately $40,000. Finally, Versant Capital Management Inc acquired a new position in shares of Wynn Resorts in the 2nd quarter worth approximately $51,000. Institutional investors and hedge funds own 68.87% of the company’s stock.

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.