Barclays Boosts Wynn Resorts (NASDAQ:WYNN) Price Target to $124.00

Wynn Resorts (NASDAQ:WYNN) had its price objective boosted by Barclays from $123.00 to $124.00 in a report issued on Friday morning, Benzinga reports. Barclays currently has an overweight rating on the casino operator’s stock.

Other analysts have also recently issued reports about the company. Susquehanna raised their target price on Wynn Resorts from $105.00 to $115.00 and gave the stock a positive rating in a research note on Thursday, February 8th. Mizuho initiated coverage on Wynn Resorts in a research note on Thursday, April 4th. They issued a buy rating and a $131.00 target price on the stock. JPMorgan Chase & Co. raised their target price on Wynn Resorts from $118.00 to $123.00 and gave the stock an overweight rating in a research note on Tuesday, February 27th. Bank Of America (Bofa) raised their target price on Wynn Resorts from $95.00 to $105.00 and gave the stock a neutral rating in a research note on Wednesday, January 17th. Finally, Macquarie raised their target price on Wynn Resorts from $122.00 to $128.00 and gave the stock an outperform rating in a research note on Friday, February 9th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Wynn Resorts has an average rating of Moderate Buy and a consensus price target of $121.43.

Wynn Resorts Stock Down 1.2 %

NASDAQ WYNN opened at $94.99 on Friday. The stock’s 50-day simple moving average is $102.28 and its two-hundred day simple moving average is $94.86. Wynn Resorts has a twelve month low of $81.65 and a twelve month high of $117.86. The company has a market capitalization of $10.65 billion, a price-to-earnings ratio of 15.88 and a beta of 1.93.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Wednesday, February 7th. The casino operator reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.76. Wynn Resorts had a negative return on equity of 31.17% and a net margin of 11.18%. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period last year, the firm earned ($1.23) earnings per share. The company’s revenue for the quarter was up 83.1% compared to the same quarter last year. On average, equities analysts expect that Wynn Resorts will post 5.37 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Tuesday, February 20th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.00 annualized dividend and a dividend yield of 1.05%. Wynn Resorts’s payout ratio is presently 16.72%.

Insider Activity

In related news, CEO Craig Scott Billings sold 19,235 shares of Wynn Resorts stock in a transaction dated Thursday, February 8th. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Craig Scott Billings sold 19,235 shares of Wynn Resorts stock in a transaction dated Thursday, February 8th. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 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. Insiders sold 26,578 shares of company stock worth $2,850,282 over the last three months. 0.52% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Wynn Resorts

A number of large investors have recently made changes to their positions in WYNN. Norges Bank bought a new stake in shares of Wynn Resorts during the 4th quarter valued at about $157,305,000. Sequoia Financial Advisors LLC grew its stake in shares of Wynn Resorts by 20,031.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 506,519 shares of the casino operator’s stock valued at $46,807,000 after purchasing an additional 504,003 shares during the period. Balyasny Asset Management LLC bought a new stake in shares of Wynn Resorts during the 3rd quarter valued at about $26,471,000. Point72 Asset Management L.P. grew its stake in shares of Wynn Resorts by 133.9% during the 4th quarter. Point72 Asset Management L.P. now owns 661,671 shares of the casino operator’s stock valued at $54,568,000 after purchasing an additional 378,775 shares during the period. Finally, Holocene Advisors LP lifted its position in shares of Wynn Resorts by 176.2% during the 2nd quarter. Holocene Advisors LP now owns 566,379 shares of the casino operator’s stock valued at $59,815,000 after buying an additional 361,319 shares in the last quarter. 68.87% of the stock is currently owned by 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.