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

Wynn Resorts, Limited (NASDAQ:WYNN) has earned a consensus recommendation of “Buy” from the fourteen research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, twelve have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $119.58.

WYNN has been the subject of a number of recent research reports. StockNews.com raised shares of Wynn Resorts from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. Wells Fargo & Company cut their price objective on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Jefferies Financial Group raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and boosted their price objective for the company from $105.00 to $118.00 in a report on Tuesday, February 18th. Mizuho upped their price target on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, February 14th. Finally, Macquarie reaffirmed an “outperform” rating and set a $115.00 price target on shares of Wynn Resorts in a report on Friday, February 14th.

Insider Buying and Selling

In related news, Director Philip G. Satre acquired 22,200 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the transaction, the director now directly owns 34,195 shares in the company, valued at $3,152,095.10. This trade represents a 185.08 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Wynn Resorts

Institutional investors have recently added to or reduced their stakes in the stock. New Wave Wealth Advisors LLC acquired a new position in Wynn Resorts during the 4th quarter worth approximately $26,000. Wilmington Savings Fund Society FSB acquired a new position in Wynn Resorts in the 3rd quarter valued at approximately $31,000. SBI Securities Co. Ltd. acquired a new position in Wynn Resorts in the 4th quarter valued at approximately $36,000. Spire Wealth Management increased its position in Wynn Resorts by 116.4% in the 4th quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock valued at $37,000 after acquiring an additional 234 shares during the period. Finally, Canada Post Corp Registered Pension Plan acquired a new position in Wynn Resorts in the 4th quarter valued at approximately $45,000. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Wynn Resorts Stock Down 0.7 %

NASDAQ WYNN opened at $90.15 on Tuesday. The company has a market capitalization of $9.59 billion, a P/E ratio of 21.41, a P/E/G ratio of 2.35 and a beta of 1.76. Wynn Resorts has a 12-month low of $71.63 and a 12-month high of $110.38. The firm has a 50-day moving average price of $85.32 and a two-hundred day moving average price of $87.52.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $1.15. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. Equities analysts expect that Wynn Resorts will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Monday, February 24th. Wynn Resorts’s dividend payout ratio is 23.75%.

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.