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

Wynn Resorts, Limited (NASDAQ:WYNN) has been given a consensus recommendation of “Moderate Buy” by the fifteen analysts that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $114.71.

A number of research firms have weighed in on WYNN. The Goldman Sachs Group began coverage on Wynn Resorts in a report on Monday, July 7th. They set a “buy” rating and a $122.00 target price on the stock. Argus cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, April 23rd. Barclays set a $127.00 price objective on shares of Wynn Resorts and gave the stock an “overweight” rating in a report on Friday, July 18th. JPMorgan Chase & Co. assumed coverage on Wynn Resorts in a research note on Monday, June 23rd. They issued an “overweight” rating and a $109.00 price target on the stock. Finally, UBS Group restated a “neutral” rating and issued a $101.00 price target (up previously from $83.00) on shares of Wynn Resorts in a research note on Tuesday, July 8th.

Wynn Resorts Stock Performance

WYNN stock opened at $109.38 on Friday. Wynn Resorts has a fifty-two week low of $65.25 and a fifty-two week high of $112.36. The business’s 50 day moving average price is $97.12 and its two-hundred day moving average price is $88.38. The company has a market capitalization of $11.44 billion, a price-to-earnings ratio of 30.38, a price-to-earnings-growth ratio of 3.08 and a beta of 1.37.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Tuesday, May 6th. The casino operator reported $1.07 earnings per share 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 analysts’ expectations of $1.74 billion. During the same quarter last year, the company posted $1.59 EPS. The firm’s revenue was down 8.7% on a year-over-year basis. Sell-side analysts forecast that Wynn Resorts will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.00 annualized dividend and a yield of 0.91%. Wynn Resorts’s dividend payout ratio (DPR) is presently 27.78%.

Insider Transactions at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,262 shares of the company’s stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $92.12, for a total value of $208,375.44. Following the transaction, the director directly owned 3,066 shares of the company’s stock, valued at approximately $282,439.92. This represents a 42.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Wynn Resorts

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WYNN. AlphaQuest LLC bought a new position in shares of Wynn Resorts during the 1st quarter valued at $25,000. Dagco Inc. bought a new position in shares of Wynn Resorts during the 1st quarter valued at $25,000. Global X Japan Co. Ltd. lifted its holdings in shares of Wynn Resorts by 120.7% during the 1st quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator’s stock valued at $27,000 after buying an additional 175 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of 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 buying an additional 156 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Wynn Resorts by 3,408.3% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 421 shares of the casino operator’s stock valued at $35,000 after buying an additional 409 shares during the period. 88.64% of the stock is owned by 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.