Wynn Resorts (NASDAQ:WYNN) Given New $126.00 Price Target at Mizuho

Wynn Resorts (NASDAQ:WYNN) had its price objective raised by Mizuho from $122.00 to $126.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the casino operator’s stock.

WYNN has been the topic of a number of other reports. UBS Group reiterated a “neutral” rating and set a $101.00 price target (up from $83.00) on shares of Wynn Resorts in a research note on Tuesday, July 8th. The Goldman Sachs Group initiated coverage on shares of Wynn Resorts in a research note on Monday, July 7th. They set a “buy” rating and a $122.00 price target on the stock. Stifel Nicolaus boosted their price target on shares of Wynn Resorts from $113.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Citigroup reiterated a “neutral” rating and set a $114.00 price target (up from $108.00) on shares of Wynn Resorts in a research note on Wednesday, July 9th. Finally, Argus lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $118.64.

Wynn Resorts Stock Performance

Shares of NASDAQ:WYNN opened at $111.82 on Monday. The company has a 50-day simple moving average of $101.24 and a 200-day simple moving average of $90.23. Wynn Resorts has a one year low of $65.25 and a one year high of $112.57. The stock has a market capitalization of $11.63 billion, a price-to-earnings ratio of 33.58, a PEG ratio of 5.98 and a beta of 1.41.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Thursday, August 7th. The casino operator reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.11). Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the previous year, the company posted $1.12 earnings per share. Wynn Resorts’s quarterly revenue was up .6% on a year-over-year basis. As a group, research analysts forecast that Wynn Resorts will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, August 18th. Wynn Resorts’s dividend payout ratio is 30.03%.

Insider Activity

In other Wynn Resorts news, Director Patricia Mulroy sold 2,262 shares of the company’s stock in a transaction dated 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 $282,439.92. This represents a 42.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.52% of the stock is owned by company insiders.

Institutional Trading of Wynn Resorts

Several institutional investors and hedge funds have recently modified their holdings of WYNN. Dagco Inc. purchased a new position in shares of Wynn Resorts during the first quarter valued at approximately $25,000. AlphaQuest LLC purchased a new position in shares of Wynn Resorts during the first quarter valued at approximately $25,000. Global X Japan Co. Ltd. lifted its stake in shares of Wynn Resorts by 120.7% during the first 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. Manchester Capital Management LLC lifted its stake in shares of Wynn Resorts by 1,500.0% during the second quarter. Manchester Capital Management LLC now owns 320 shares of the casino operator’s stock valued at $30,000 after buying an additional 300 shares during the period. Finally, MTM Investment Management LLC purchased a new position in shares of Wynn Resorts during the second quarter valued at approximately $31,000. Hedge funds and other institutional investors own 88.64% of the company’s stock.

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.