Brokerages Set Wynn Resorts, Limited (NASDAQ:WYNN) Target Price at $115.71

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) have been given a consensus recommendation of “Moderate Buy” by the fifteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Three research 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 company. The average 12-month price target among analysts that have covered the stock in the last year is $115.71.

A number of equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut their target price on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Macquarie reaffirmed an “outperform” rating and set a $120.00 price objective on shares of Wynn Resorts in a research note on Tuesday, November 5th. Susquehanna raised their target price on shares of Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a report on Friday, October 11th. Morgan Stanley boosted their price target on shares of Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th.

Insider Activity at Wynn Resorts

In other Wynn Resorts 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 transaction of $208,634.50. Following the transaction, the director now directly owns 5,689 shares in the company, valued at $447,894.97. This trade 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 available at the SEC website. 0.52% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Wynn Resorts

Several institutional investors and hedge funds have recently added to or reduced their stakes in WYNN. International Assets Investment Management LLC bought a new position in Wynn Resorts during the second quarter worth $25,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Wynn Resorts in the 3rd quarter worth approximately $31,000. Blue Trust Inc. increased its stake in shares of Wynn Resorts by 556.0% in the third quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after buying an additional 467 shares in the last quarter. Allworth Financial LP increased its position in Wynn Resorts by 17.5% in the 3rd quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock valued at $86,000 after acquiring an additional 133 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Wynn Resorts by 703.1% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,028 shares of the casino operator’s stock worth $99,000 after purchasing an additional 900 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Wynn Resorts Price Performance

Shares of WYNN opened at $94.53 on Thursday. The firm’s 50 day moving average is $94.99 and its 200-day moving average is $87.84. Wynn Resorts has a 12-month low of $71.63 and a 12-month high of $110.38. The stock has a market capitalization of $10.38 billion, a P/E ratio of 11.66, a P/E/G ratio of 3.46 and a beta of 1.78.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results 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). Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the firm posted $0.99 EPS. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, equities research analysts forecast that Wynn Resorts will post 4.79 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.06%. Wynn Resorts’s dividend payout ratio is 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.