Wynn Resorts (NASDAQ:WYNN) Given New $138.00 Price Target at Citigroup

Wynn Resorts (NASDAQ:WYNN) had its price objective increased by Citigroup from $132.00 to $138.00 in a research note published on Wednesday, Benzinga reports. Citigroup currently has a buy rating on the casino operator’s stock.

WYNN has been the topic of several other reports. Stifel Nicolaus raised their price objective on Wynn Resorts from $135.00 to $138.00 and gave the stock a buy rating in a report on Wednesday. JPMorgan Chase & Co. raised their price target on Wynn Resorts from $118.00 to $123.00 and gave the company an overweight rating in a research note on Tuesday, February 27th. Macquarie upped their price objective on shares of Wynn Resorts from $122.00 to $128.00 and gave the stock an outperform rating in a research note on Friday, February 9th. Wells Fargo & Company raised their target price on shares of Wynn Resorts from $125.00 to $128.00 and gave the company an overweight rating in a research report on Wednesday. Finally, Morgan Stanley upped their price target on shares of Wynn Resorts from $107.00 to $114.00 and gave the stock an equal weight rating in a research report on Tuesday, April 9th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $122.64.

Wynn Resorts Trading Down 1.5 %

NASDAQ WYNN opened at $95.75 on Wednesday. The stock has a market cap of $10.73 billion, a PE ratio of 16.01 and a beta of 1.91. Wynn Resorts has a 12 month low of $81.65 and a 12 month high of $113.50. The company’s 50-day moving average price is $100.24 and its 200-day moving average price is $95.39.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Tuesday, May 7th. The casino operator reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.16. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.80 billion. Wynn Resorts had a net margin of 11.18% and a negative return on equity of 31.17%. The company’s revenue for the quarter was up 30.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 EPS. As a group, sell-side analysts forecast that Wynn Resorts will post 5.37 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 20th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.04%. Wynn Resorts’s dividend payout ratio is presently 16.72%.

Insider Activity

In other news, Director Patricia Mulroy sold 960 shares of the business’s stock in a transaction dated 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 $54,898.74. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Julie Cameron-Doe sold 6,383 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $105.27, for a total value of $671,938.41. Following the transaction, the chief financial officer now owns 78,150 shares of the company’s stock, valued at $8,226,850.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Patricia Mulroy sold 960 shares of Wynn Resorts stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $105.17, for a total value of $100,963.20. Following the sale, the director now directly owns 522 shares of the company’s stock, valued at $54,898.74. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Blue Trust Inc. increased its position in shares of Wynn Resorts by 3,000.0% during the fourth quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock worth $25,000 after purchasing an additional 270 shares in the last quarter. ICA Group Wealth Management LLC purchased a new position in Wynn Resorts during the 4th quarter worth approximately $27,000. Sunbelt Securities Inc. increased its position in Wynn Resorts by 4,285.7% during the third quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock worth $28,000 after buying an additional 300 shares during the period. Register Financial Advisors LLC purchased a new stake in Wynn Resorts in the first quarter valued at approximately $37,000. Finally, GAMMA Investing LLC purchased a new position in shares of Wynn Resorts during the fourth quarter worth approximately $38,000. Hedge funds and other 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.