Brokerages Set Wynn Resorts, Limited (NASDAQ:WYNN) PT at $112.92

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) have earned a consensus rating of “Moderate Buy” from the fifteen analysts that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $112.92.

Several research firms have commented on WYNN. Mizuho cut their price target on Wynn Resorts from $132.00 to $122.00 and set an “outperform” rating on the stock in a research report on Thursday, May 8th. Stifel Nicolaus set a $113.00 price target on shares of Wynn Resorts in a report on Wednesday, May 7th. Macquarie reaffirmed an “outperform” rating and issued a $115.00 target price on shares of Wynn Resorts in a research report on Friday, February 14th. Bank of America raised shares of Wynn Resorts from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Wednesday, May 7th. Finally, Citigroup raised shares of Wynn Resorts from a “neutral” rating to a “buy” rating in a report on Wednesday, May 7th.

Insider Activity at Wynn Resorts

In related news, Director Philip G. Satre bought 22,200 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was purchased at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the transaction, the director now directly owns 34,195 shares of the company’s stock, 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 document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Tilman J. Fertitta purchased 100,000 shares of the company’s stock in a transaction on Monday, April 7th. The stock was acquired at an average cost of $67.62 per share, for a total transaction of $6,762,000.00. Following the completion of the transaction, the insider now owns 13,000,000 shares in the company, valued at approximately $879,060,000. This trade represents a 0.78% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 438,700 shares of company stock worth $31,300,943 in the last quarter. 0.52% of the stock is owned by company insiders.

Institutional Trading of Wynn Resorts

Several institutional investors have recently modified their holdings of the company. Sand Hill Global Advisors LLC raised its position in Wynn Resorts by 84.8% in the 1st quarter. Sand Hill Global Advisors LLC now owns 48,335 shares of the casino operator’s stock valued at $4,036,000 after purchasing an additional 22,185 shares during the last quarter. Raymond James Financial Inc. raised its holdings in Wynn Resorts by 12.7% during the first quarter. Raymond James Financial Inc. now owns 992,022 shares of the casino operator’s stock worth $82,834,000 after acquiring an additional 111,428 shares in the last quarter. Oder Investment Management LLC bought a new position in Wynn Resorts during the first quarter worth about $715,000. Brandywine Global Investment Management LLC raised its holdings in Wynn Resorts by 5.7% in the 1st quarter. Brandywine Global Investment Management LLC now owns 63,989 shares of the casino operator’s stock valued at $5,343,000 after acquiring an additional 3,447 shares during the period. Finally, Cookson Peirce & Co. Inc. boosted its holdings in Wynn Resorts by 73.3% in the 1st quarter. Cookson Peirce & Co. Inc. now owns 58,618 shares of the casino operator’s stock valued at $4,895,000 after purchasing an additional 24,790 shares during the period. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Trading Up 1.7%

Shares of WYNN opened at $96.79 on Friday. Wynn Resorts has a 12-month low of $65.25 and a 12-month high of $107.81. The company’s 50-day moving average price is $80.91 and its 200 day moving average price is $85.77. The firm has a market cap of $10.12 billion, a P/E ratio of 22.99, a price-to-earnings-growth ratio of 2.35 and a beta of 1.33.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Tuesday, May 6th. The casino operator reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.17). The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. Wynn Resorts’s revenue for the quarter was down 8.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.59 EPS. Equities research analysts forecast that Wynn Resorts will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a $0.25 dividend. The ex-dividend date is Friday, May 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.03%. Wynn Resorts’s payout ratio is currently 27.78%.

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.