Wynn Resorts (NASDAQ:WYNN) Price Target Raised to $116.00

Wynn Resorts (NASDAQ:WYNN) had its target price lifted by Barclays from $115.00 to $116.00 in a research note published on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the casino operator’s stock.

Other research analysts have also issued research reports about the company. Wells Fargo & Company lowered their price target on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft decreased their target price on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Mizuho boosted their target price on Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday. Macquarie reissued an “outperform” rating and set a $120.00 target price on shares of Wynn Resorts in a report on Tuesday, November 5th. Finally, Jefferies Financial Group decreased their target price on Wynn Resorts from $109.00 to $105.00 and set a “hold” rating on the stock in a report on Friday, January 3rd. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $119.50.

Wynn Resorts Trading Up 10.4 %

Shares of WYNN opened at $88.82 on Friday. Wynn Resorts has a 1 year low of $71.63 and a 1 year high of $110.38. The stock has a market cap of $9.75 billion, a P/E ratio of 10.95, a price-to-earnings-growth ratio of 2.32 and a beta of 1.76. The stock’s 50-day moving average price is $85.66 and its two-hundred day moving average price is $86.89.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, beating the consensus estimate of $1.27 by $1.15. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. As a group, equities analysts forecast that Wynn Resorts will post 4.69 EPS for the current year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.13%. Wynn Resorts’s payout ratio is currently 12.33%.

Institutional Investors Weigh In On Wynn Resorts

Several hedge funds have recently modified their holdings of the stock. Jericho Capital Asset Management L.P. acquired a new stake in Wynn Resorts during the 4th quarter valued at approximately $101,375,000. Black Diamond Capital Management L.L.C. lifted its position in shares of Wynn Resorts by 10.3% during the 4th quarter. Black Diamond Capital Management L.L.C. now owns 107,012 shares of the casino operator’s stock worth $9,220,000 after purchasing an additional 10,000 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its stake in Wynn Resorts by 370.5% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 39,959 shares of the casino operator’s stock valued at $3,443,000 after acquiring an additional 31,466 shares during the period. Candlestick Capital Management LP acquired a new position in Wynn Resorts during the 4th quarter worth $32,834,000. Finally, Northern Trust Corp lifted its stake in shares of Wynn Resorts by 6.5% in the 4th quarter. Northern Trust Corp now owns 821,684 shares of the casino operator’s stock valued at $70,796,000 after purchasing an additional 50,428 shares during the period. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

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.