Wynn Resorts (NASDAQ:WYNN) Price Target Increased to $128.00 by Analysts at Wells Fargo & Company

Wynn Resorts (NASDAQ:WYNN) had its price objective hoisted by Wells Fargo & Company from $125.00 to $128.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have an overweight rating on the casino operator’s stock.

Other equities research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. upped their target price on shares of Wynn Resorts from $118.00 to $123.00 and gave the company an overweight rating in a report on Tuesday, February 27th. Barclays increased their price objective on Wynn Resorts from $123.00 to $124.00 and gave the stock an overweight rating in a research report on Friday, April 19th. Bank Of America (Bofa) boosted 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. Susquehanna increased their price target on Wynn Resorts from $105.00 to $115.00 and gave the stock a positive rating in a report on Thursday, February 8th. Finally, Macquarie boosted their price objective on shares of Wynn Resorts from $122.00 to $128.00 and gave the company an outperform rating in a research note on Friday, February 9th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $122.64.

Wynn Resorts Stock Down 1.5 %

WYNN opened at $95.75 on Wednesday. Wynn Resorts has a 52 week low of $81.65 and a 52 week high of $113.50. The business’s 50 day moving average is $100.24 and its two-hundred day moving average is $95.39. The firm has a market cap of $10.73 billion, a price-to-earnings ratio of 16.01 and a beta of 1.91.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Tuesday, May 7th. The casino operator reported $1.59 earnings per share (EPS) for the quarter, topping 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 period last year, the firm posted $0.29 earnings per share. The company’s revenue for the quarter was up 30.9% compared to the same quarter last year. Equities analysts expect that Wynn Resorts will post 5.37 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 20th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.04%. Wynn Resorts’s dividend payout ratio (DPR) is 16.72%.

Insider Buying and Selling

In related news, CFO Julie Cameron-Doe sold 6,383 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 78,150 shares in the company, valued at approximately $8,226,850.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Julie Cameron-Doe sold 6,383 shares of Wynn Resorts stock in a transaction on Friday, February 9th. The stock was sold at an average price of $105.27, for a total transaction of $671,938.41. Following the completion of the transaction, the chief financial officer now owns 78,150 shares of the company’s stock, valued at approximately $8,226,850.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Patricia Mulroy sold 960 shares of the stock in a transaction dated 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 sale, the director now directly owns 522 shares in the company, valued at $54,898.74. The disclosure for this sale can be found here. 0.52% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Nordea Investment Management AB lifted its holdings in Wynn Resorts by 130.9% in the 4th quarter. Nordea Investment Management AB now owns 143,480 shares of the casino operator’s stock valued at $13,101,000 after purchasing an additional 81,338 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Wynn Resorts by 51.8% during the fourth quarter. Van ECK Associates Corp now owns 55,787 shares of the casino operator’s stock valued at $5,083,000 after buying an additional 19,031 shares during the period. Synergy Asset Management LLC acquired a new stake in Wynn Resorts during the fourth quarter worth approximately $1,150,000. Keybank National Association OH grew its stake in Wynn Resorts by 8.1% in the 3rd quarter. Keybank National Association OH now owns 249,716 shares of the casino operator’s stock worth $23,076,000 after acquiring an additional 18,802 shares during the period. Finally, Kestra Advisory Services LLC raised its holdings in Wynn Resorts by 11.4% in the 3rd quarter. Kestra Advisory Services LLC now owns 6,202 shares of the casino operator’s stock valued at $573,000 after acquiring an additional 633 shares during the last quarter. 68.87% of the stock is owned by hedge funds and other institutional investors.

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.