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

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) have received a consensus recommendation of “Moderate Buy” from the twelve research firms that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $121.43.

Several analysts have issued reports on the company. Wells Fargo & Company lifted their price target on Wynn Resorts from $122.00 to $124.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Susquehanna lifted their price target on shares of Wynn Resorts from $105.00 to $115.00 and gave the company a “positive” rating in a research note on Thursday, February 8th. UBS Group dropped their target price on Wynn Resorts from $117.00 to $108.00 and set a “neutral” rating on the stock in a report on Tuesday, February 6th. Morgan Stanley raised their price target on Wynn Resorts from $107.00 to $114.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Finally, Bank Of America (Bofa) upped their price objective on Wynn Resorts from $95.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 17th.

Wynn Resorts Price Performance

Shares of WYNN stock opened at $96.71 on Wednesday. The stock has a market cap of $10.84 billion, a PE ratio of 16.17 and a beta of 1.91. The stock has a 50-day moving average of $100.60 and a 200-day moving average of $95.19. Wynn Resorts has a one year low of $81.65 and a one year high of $113.50.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Wednesday, February 7th. The casino operator reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period in the previous year, the firm earned ($1.23) EPS. Wynn Resorts’s quarterly revenue was up 83.1% compared to the same quarter last year. As a group, research analysts anticipate that Wynn Resorts will post 5.37 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Tuesday, February 20th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Friday, February 16th. Wynn Resorts’s dividend payout ratio is currently 16.72%.

Insiders Place Their Bets

In other Wynn Resorts news, Director Patricia Mulroy sold 960 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $105.17, for a total transaction of $100,963.20. Following the transaction, the director now owns 522 shares in the company, valued at approximately $54,898.74. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CFO Julie Cameron-Doe sold 6,383 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $105.27, for a total value of $671,938.41. Following the completion of the transaction, the chief financial officer now directly owns 78,150 shares in the company, valued at approximately $8,226,850.50. The sale 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 that occurred on 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 in the company, valued at $54,898.74. The disclosure for this sale can be found here. Insiders have sold a total of 26,578 shares of company stock worth $2,850,282 in the last quarter. Corporate insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Wynn Resorts

Large investors have recently modified their holdings of the business. Blue Trust Inc. boosted its stake in Wynn Resorts by 3,000.0% in the fourth quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock valued at $25,000 after buying an additional 270 shares in the last quarter. ICA Group Wealth Management LLC acquired a new stake in shares of Wynn Resorts during the 4th quarter valued at $27,000. Sunbelt Securities Inc. grew 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 worth $28,000 after acquiring an additional 300 shares during the last quarter. Register Financial Advisors LLC acquired a new position in Wynn Resorts in the 1st quarter worth about $37,000. Finally, GAMMA Investing LLC acquired a new position in shares of Wynn Resorts in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 68.87% of the company’s stock.

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.