Citigroup Raises Wynn Resorts (NASDAQ:WYNN) Price Target to $138.00

Wynn Resorts (NASDAQ:WYNN) had its price objective hoisted by Citigroup from $132.00 to $138.00 in a research report released on Wednesday morning, Benzinga reports. Citigroup currently has a buy rating on the casino operator’s stock.

Several other research firms have also issued reports on WYNN. Susquehanna lifted their price target on shares of Wynn Resorts from $105.00 to $115.00 and gave the stock a positive rating in a research report on Thursday, February 8th. Bank Of America (Bofa) upped their target price on Wynn Resorts from $95.00 to $105.00 and gave the company a neutral rating in a report on Wednesday, January 17th. Mizuho initiated coverage on shares of Wynn Resorts in a report on Thursday, April 4th. They set a buy rating and a $131.00 price target for the company. Barclays boosted their price objective on shares of Wynn Resorts from $123.00 to $124.00 and gave the company an overweight rating in a research report on Friday, April 19th. Finally, UBS Group dropped their price target on shares of Wynn Resorts from $117.00 to $108.00 and set a neutral rating on the stock in a research note on Tuesday, February 6th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $122.64.

Wynn Resorts Stock Performance

Shares of WYNN stock opened at $95.75 on Wednesday. The firm has a market capitalization of $10.73 billion, a PE ratio of 16.01 and a beta of 1.91. Wynn Resorts has a 1 year low of $81.65 and a 1 year high of $113.50. The stock has a fifty day moving average of $100.24 and a two-hundred day moving average of $95.39.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Tuesday, May 7th. The casino operator reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.16. Wynn Resorts had a net margin of 11.18% and a negative return on equity of 31.17%. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the business earned $0.29 earnings per share. The business’s revenue for the quarter was up 30.9% on a year-over-year basis. Equities research analysts predict that Wynn Resorts will post 5.37 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

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

Insider Activity at Wynn Resorts

In other news, CFO Julie Cameron-Doe sold 6,383 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now owns 78,150 shares in the company, valued at $8,226,850.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Julie Cameron-Doe sold 6,383 shares of the company’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 completion of the transaction, the chief financial officer now directly owns 78,150 shares in the company, valued at $8,226,850.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Patricia Mulroy sold 960 shares of Wynn Resorts 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 sale, the director now owns 522 shares in the company, valued at approximately $54,898.74. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by company insiders.

Institutional Trading of Wynn Resorts

A number of large investors have recently bought and sold shares of the stock. Blue Trust Inc. boosted its position 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 fourth quarter worth approximately $27,000. Sunbelt Securities Inc. raised its stake in shares of Wynn Resorts by 4,285.7% in the third quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock valued at $28,000 after acquiring an additional 300 shares during the last quarter. Register Financial Advisors LLC acquired a new position in shares of Wynn Resorts in the 1st quarter worth approximately $37,000. Finally, GAMMA Investing LLC bought a new stake in Wynn Resorts during the 4th quarter worth approximately $38,000. 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.