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

Wynn Resorts, Limited (NASDAQ:WYNN) has earned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $121.43.

A number of equities analysts recently issued reports on the company. UBS Group reduced their target price on Wynn Resorts from $117.00 to $108.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. Mizuho assumed coverage on Wynn Resorts in a report on Thursday, April 4th. They set a “buy” rating and a $131.00 target price for the company. Bank Of America (Bofa) increased their price target on shares of Wynn Resorts from $95.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 17th. Barclays raised their price target on shares of Wynn Resorts from $123.00 to $124.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Finally, StockNews.com upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating in a research note on Thursday, April 4th.

Insider Activity at Wynn Resorts

In related news, Director Patricia Mulroy sold 960 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $105.17, for a total transaction of $100,963.20. Following the sale, the director now directly owns 522 shares of the company’s stock, valued at approximately $54,898.74. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Patricia Mulroy sold 960 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $105.17, for a total transaction of $100,963.20. Following the completion of the transaction, the director now directly owns 522 shares of the company’s stock, valued at approximately $54,898.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Craig Scott Billings sold 19,235 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $108.00, for a total value of $2,077,380.00. Following the completion of the sale, the chief executive officer now directly owns 307,904 shares in the company, valued at approximately $33,253,632. The disclosure for this sale can be found here. Insiders sold 26,578 shares of company stock worth $2,850,282 in the last three months. 0.52% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Wynn Resorts by 42.9% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,796 shares of the casino operator’s stock worth $593,000 after purchasing an additional 1,740 shares during the last quarter. FinTrust Capital Advisors LLC lifted its holdings in Wynn Resorts by 6.6% during the 1st quarter. FinTrust Capital Advisors LLC now owns 8,475 shares of the casino operator’s stock worth $866,000 after buying an additional 524 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Wynn Resorts by 10.8% during the 1st quarter. Daiwa Securities Group Inc. now owns 9,883 shares of the casino operator’s stock worth $1,010,000 after acquiring an additional 965 shares in the last quarter. Wakefield Asset Management LLLP acquired a new position in shares of Wynn Resorts during the 1st quarter worth about $3,401,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Wynn Resorts by 25.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,810 shares of the casino operator’s stock valued at $1,567,000 after acquiring an additional 2,982 shares during the last quarter. Institutional investors and hedge funds own 68.87% of the company’s stock.

Wynn Resorts Stock Up 1.5 %

Shares of NASDAQ:WYNN opened at $96.71 on Wednesday. The firm has a 50 day moving average of $100.60 and a 200 day moving average of $95.19. The company has a market capitalization of $10.84 billion, a price-to-earnings ratio of 16.17 and a beta of 1.91. Wynn Resorts has a 52 week low of $81.65 and a 52 week high of $113.50.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Wednesday, February 7th. The casino operator reported $1.91 EPS for the quarter, beating the consensus estimate of $1.15 by $0.76. Wynn Resorts had a net margin of 11.18% and a negative return on equity of 31.17%. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period in the prior year, the firm posted ($1.23) earnings per share. The company’s quarterly revenue was up 83.1% on a year-over-year basis. On average, sell-side analysts expect that Wynn Resorts will post 5.37 EPS for the current year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Tuesday, February 20th were issued a $0.25 dividend. The ex-dividend date was Friday, February 16th. This represents a $1.00 annualized dividend and a yield of 1.03%. Wynn Resorts’s dividend payout ratio (DPR) is presently 16.72%.

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.