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

Wynn Resorts, Limited (NASDAQ:WYNN) has received an average recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $115.71.

WYNN has been the subject of a number of research reports. Morgan Stanley lifted their target price on Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company lowered their price objective on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Barclays cut their target price on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Macquarie restated an “outperform” rating and set a $120.00 price target on shares of Wynn Resorts in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th.

Insider Activity at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the sale, the director now directly owns 5,689 shares of the company’s stock, valued at $447,894.97. This trade represents a 31.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Wynn Resorts

Several hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. raised its holdings in shares of Wynn Resorts by 0.5% during the third quarter. Franklin Resources Inc. now owns 250,962 shares of the casino operator’s stock valued at $26,088,000 after acquiring an additional 1,165 shares during the period. Synovus Financial Corp acquired a new stake in Wynn Resorts during the 3rd quarter worth about $202,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Wynn Resorts in the 3rd quarter valued at about $31,000. Sunbelt Securities Inc. lifted its position in shares of Wynn Resorts by 618.3% in the third quarter. Sunbelt Securities Inc. now owns 2,672 shares of the casino operator’s stock worth $256,000 after purchasing an additional 2,300 shares in the last quarter. Finally, Chiron Investment Management LLC acquired a new stake in shares of Wynn Resorts during the third quarter worth approximately $850,000. 88.64% of the stock is owned by hedge funds and other institutional investors.

Wynn Resorts Price Performance

Shares of WYNN opened at $95.21 on Thursday. The stock has a market capitalization of $10.46 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 3.45 and a beta of 1.78. The business’s fifty day moving average price is $95.40 and its 200 day moving average price is $87.84. Wynn Resorts has a 12-month low of $71.63 and a 12-month high of $110.38.

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 analysts’ consensus estimates 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 the consensus estimate of $1.73 billion. During the same quarter in the previous year, the business posted $0.99 earnings per share. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, research analysts anticipate that Wynn Resorts will post 4.79 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 annualized dividend and a yield of 1.05%. Wynn Resorts’s 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.