Brokerages Set Wynn Resorts, Limited (NASDAQ:WYNN) Price Target at $112.82

Wynn Resorts, Limited (NASDAQ:WYNN) has received an average rating of “Moderate Buy” from the fourteen ratings firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $112.82.

Several equities research analysts have recently weighed in on WYNN shares. JPMorgan Chase & Co. assumed coverage on shares of Wynn Resorts in a research report on Monday, June 23rd. They issued an “overweight” rating and a $109.00 price target for the company. Argus downgraded Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, April 23rd. Citigroup upgraded Wynn Resorts from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 7th. Stifel Nicolaus set a $113.00 target price on Wynn Resorts in a research note on Wednesday, May 7th. Finally, Bank of America raised shares of Wynn Resorts from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Wednesday, May 7th.

Insider Transactions at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,262 shares of Wynn Resorts stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $92.12, for a total value of $208,375.44. Following the sale, the director owned 3,066 shares of the company’s stock, valued at approximately $282,439.92. This trade represents a 42.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Tilman J. Fertitta acquired 300,000 shares of Wynn Resorts stock in a transaction on Friday, April 4th. The shares were bought at an average price of $70.37 per share, with a total value of $21,111,000.00. Following the completion of the transaction, the insider directly owned 12,900,000 shares of the company’s stock, valued at $907,773,000. This trade represents a 2.38% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AlphaQuest LLC purchased a new stake in shares of Wynn Resorts during the first quarter worth approximately $25,000. Dagco Inc. purchased a new position in shares of Wynn Resorts in the first quarter worth about $25,000. Global X Japan Co. Ltd. boosted its position in Wynn Resorts by 120.7% during the first quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator’s stock worth $27,000 after acquiring an additional 175 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in Wynn Resorts by 69.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock valued at $32,000 after acquiring an additional 156 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in Wynn Resorts in the 4th quarter worth approximately $36,000. 88.64% of the stock is owned by hedge funds and other institutional investors.

Wynn Resorts Stock Performance

Shares of NASDAQ:WYNN opened at $104.68 on Monday. The firm has a market cap of $10.94 billion, a PE ratio of 29.08, a price-to-earnings-growth ratio of 2.88 and a beta of 1.37. The firm’s 50 day simple moving average is $89.08 and its 200-day simple moving average is $85.40. Wynn Resorts has a one year low of $65.25 and a one year high of $107.81.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Tuesday, May 6th. The casino operator reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.17). Wynn Resorts had a negative return on equity of 62.13% and a net margin of 6.17%. The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the company posted $1.59 EPS. Wynn Resorts’s quarterly revenue was down 8.7% compared to the same quarter last year. Equities research analysts predict that Wynn Resorts will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, May 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.96%. Wynn Resorts’s payout ratio is currently 27.78%.

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.