Wynn Resorts (NASDAQ:WYNN) Price Target Raised to $133.00

Wynn Resorts (NASDAQ:WYNN) had its target price raised by Jefferies Financial Group from $130.00 to $133.00 in a research report released on Monday,Benzinga reports. The firm currently has a buy rating on the casino operator’s stock.

A number of other equities research analysts have also recently issued reports on WYNN. The Goldman Sachs Group started coverage on shares of Wynn Resorts in a report on Monday, July 7th. They set a “buy” rating and a $122.00 price target for the company. Stifel Nicolaus upped their price target on shares of Wynn Resorts from $113.00 to $130.00 and gave the company a “buy” rating in a report on Friday, August 8th. Barclays upped their price target on shares of Wynn Resorts from $101.00 to $127.00 and gave the company an “overweight” rating in a report on Friday, July 18th. Mizuho decreased their price target on shares of Wynn Resorts from $132.00 to $122.00 and set an “outperform” rating for the company in a report on Thursday, May 8th. Finally, Macquarie upped their price target on shares of Wynn Resorts from $110.00 to $124.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Wynn Resorts presently has an average rating of “Moderate Buy” and a consensus price target of $118.64.

Wynn Resorts Trading Down 0.6%

Shares of NASDAQ:WYNN opened at $111.82 on Monday. The stock has a market capitalization of $11.63 billion, a PE ratio of 33.58, a P/E/G ratio of 5.98 and a beta of 1.41. Wynn Resorts has a 1 year low of $65.25 and a 1 year high of $112.57. The firm has a fifty day moving average price of $101.24 and a 200 day moving average price of $90.23.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Thursday, August 7th. The casino operator reported $1.09 earnings per share (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 firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter last year, the company earned $1.12 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. On average, sell-side analysts forecast that Wynn Resorts will post 5.17 earnings per share 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. Investors of record on Monday, August 18th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a 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 Transactions at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,262 shares of the 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 completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.52% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Dagco Inc. acquired a new position in Wynn Resorts in the first quarter worth about $25,000. AlphaQuest LLC acquired a new position in Wynn Resorts in the first quarter worth about $25,000. Global X Japan Co. Ltd. raised its position in Wynn Resorts by 120.7% in the first quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator’s stock worth $27,000 after purchasing an additional 175 shares in the last quarter. Manchester Capital Management LLC raised its position in Wynn Resorts by 1,500.0% in the second quarter. Manchester Capital Management LLC now owns 320 shares of the casino operator’s stock worth $30,000 after purchasing an additional 300 shares in the last quarter. Finally, MTM Investment Management LLC acquired a new position in Wynn Resorts in the second quarter worth about $31,000. Institutional investors and hedge funds 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.