Wynn Resorts (NASDAQ:WYNN) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Wynn Resorts (NASDAQ:WYNN) from a hold rating to a buy rating in a research report report published on Tuesday morning.

A number of other equities analysts have also commented on WYNN. Macquarie reissued an “outperform” rating and issued a $115.00 price target on shares of Wynn Resorts in a report on Friday, February 14th. Barclays increased their target price on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Morgan Stanley increased their target price on shares of Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Stifel Nicolaus increased their price target on shares of Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. increased their price target on shares of Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $120.58.

Wynn Resorts Stock Up 2.7 %

WYNN opened at $91.21 on Tuesday. The stock has a market cap of $10.02 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 2.32 and a beta of 1.76. The company’s 50-day moving average price is $85.45 and its two-hundred day moving average price is $87.06. Wynn Resorts has a twelve month low of $71.63 and a twelve month high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $1.15. The company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. As a group, sell-side analysts anticipate that Wynn Resorts will post 4.69 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a yield of 1.10%. Wynn Resorts’s dividend payout ratio is currently 12.33%.

Insider Buying and Selling at Wynn Resorts

In related news, Director Philip G. Satre purchased 22,200 shares of Wynn Resorts stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the purchase, the director now directly owns 34,195 shares of the company’s stock, valued at $3,152,095.10. The trade was a 185.08 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.52% of the stock is owned by company insiders.

Institutional Trading of Wynn Resorts

A number of large investors have recently made changes to their positions in WYNN. Fisher Asset Management LLC grew its stake in shares of Wynn Resorts by 70.7% in the third quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock worth $380,821,000 after acquiring an additional 1,644,965 shares during the period. Norges Bank bought a new stake in shares of Wynn Resorts in the fourth quarter worth approximately $117,352,000. Jericho Capital Asset Management L.P. purchased a new position in shares of Wynn Resorts in the fourth quarter worth approximately $101,375,000. Raymond James Financial Inc. purchased a new position in shares of Wynn Resorts in the fourth quarter worth approximately $75,872,000. Finally, Holocene Advisors LP boosted its holdings in shares of Wynn Resorts by 27,868.5% in the third quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock worth $72,672,000 after buying an additional 755,236 shares during the last quarter. 88.64% of the stock is currently 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.