Wynn Resorts (NASDAQ:WYNN) Price Target Increased to $138.00 by Analysts at Stifel Nicolaus

Wynn Resorts (NASDAQ:WYNN) had its price objective upped by Stifel Nicolaus from $135.00 to $138.00 in a research note issued to investors on Wednesday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the casino operator’s stock.

A number of other equities analysts have also issued reports on WYNN. JPMorgan Chase & Co. boosted their target price on shares of Wynn Resorts from $118.00 to $123.00 and gave the stock an overweight rating in a research report on Tuesday, February 27th. UBS Group dropped their price objective on shares of Wynn Resorts from $117.00 to $108.00 and set a neutral rating on the stock in a report on Tuesday, February 6th. Wells Fargo & Company increased their target price on shares of Wynn Resorts from $122.00 to $124.00 and gave the company an overweight rating in a research note on Thursday, February 8th. Macquarie boosted their price target on Wynn Resorts from $122.00 to $128.00 and gave the company an outperform rating in a research note on Friday, February 9th. Finally, Barclays upped their price target on Wynn Resorts from $123.00 to $124.00 and gave the company an overweight rating in a report on Friday, April 19th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $122.64.

Wynn Resorts Price Performance

Wynn Resorts stock opened at $95.75 on Wednesday. The firm has a market cap of $10.73 billion, a price-to-earnings ratio of 16.01 and a beta of 1.91. The firm has a fifty day moving average price of $100.24 and a two-hundred day moving average price of $95.39. Wynn Resorts has a fifty-two week low of $81.65 and a fifty-two week high of $113.50.

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

Wynn Resorts Announces Dividend

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

Insiders Place Their Bets

In related news, Director Patricia Mulroy sold 960 shares of Wynn Resorts stock in a transaction dated Friday, February 9th. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Wynn Resorts news, CFO Julie Cameron-Doe sold 6,383 shares of the business’s 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 legal filing with the SEC, which is available through the SEC website. Also, Director Patricia Mulroy sold 960 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $105.17, for a total value of $100,963.20. Following the completion of the sale, the director now owns 522 shares of the company’s stock, valued at $54,898.74. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised 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 acquiring an additional 270 shares during the last quarter. ICA Group Wealth Management LLC bought a new stake in Wynn Resorts during the 4th quarter worth about $27,000. Sunbelt Securities Inc. lifted its position in Wynn Resorts by 4,285.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock valued at $28,000 after purchasing an additional 300 shares during the period. Register Financial Advisors LLC bought a new position in shares of Wynn Resorts in the 1st quarter valued at about $37,000. Finally, GAMMA Investing LLC acquired a new stake in shares of Wynn Resorts during the 4th quarter worth approximately $38,000. Institutional investors and hedge funds 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.