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

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) have been assigned an average rating of “Moderate Buy” from the fifteen analysts that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $115.71.

Several research analysts recently issued reports on WYNN shares. Wells Fargo & Company reduced their target price on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Morgan Stanley raised their target price on Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. UBS Group raised shares of Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, Macquarie reaffirmed an “outperform” rating and issued a $120.00 price objective on shares of Wynn Resorts in a report on Tuesday, November 5th.

Insider Activity

In related news, Director Patricia Mulroy sold 2,650 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the sale, the director now directly owns 5,689 shares in the company, valued at approximately $447,894.97. This represents a 31.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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 made changes to their positions in the business. Fisher Asset Management LLC boosted its stake in shares of Wynn Resorts by 70.7% during the third quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock worth $380,821,000 after buying an additional 1,644,965 shares during the period. Holocene Advisors LP grew its holdings in Wynn Resorts by 27,868.5% during the 3rd quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock valued at $72,672,000 after buying an additional 755,236 shares during the last quarter. Eagle Asset Management Inc. acquired a new position in Wynn Resorts in the 3rd quarter valued at about $58,486,000. Interval Partners LP boosted its position in Wynn Resorts by 999.0% during the first quarter. Interval Partners LP now owns 400,911 shares of the casino operator’s stock worth $40,985,000 after acquiring an additional 364,432 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Wynn Resorts by 29.1% in the second quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock valued at $120,386,000 after acquiring an additional 303,033 shares during the last quarter. Institutional investors and hedge funds own 68.87% of the company’s stock.

Wynn Resorts Stock Performance

Shares of NASDAQ WYNN opened at $90.74 on Friday. Wynn Resorts has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The company has a market cap of $9.97 billion, a PE ratio of 11.19, a P/E/G ratio of 3.35 and a beta of 1.80. The business has a 50-day simple moving average of $92.12 and a two-hundred day simple moving average of $88.24.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.11). The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.99 earnings per share. On average, sell-side analysts predict that Wynn Resorts will post 4.87 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Friday, November 15th. Wynn Resorts’s dividend payout ratio (DPR) is presently 12.33%.

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.