Wynn Resorts (NASDAQ:WYNN) Upgraded at Argus

Argus upgraded shares of Wynn Resorts (NASDAQ:WYNN) from a hold rating to a buy rating in a research note released on Wednesday, Marketbeat.com reports. Argus currently has $145.00 price objective on the casino operator’s stock.

Several other equities analysts have also recently issued reports on the company. Stifel Nicolaus raised their price target on Wynn Resorts from $113.00 to $130.00 and gave the company a “buy” rating in a report on Friday, August 8th. Morgan Stanley raised their price target on Wynn Resorts from $111.00 to $113.00 and gave the company an “overweight” rating in a report on Tuesday, August 12th. The Goldman Sachs Group started coverage on Wynn Resorts in a report on Monday, July 7th. They issued a “buy” rating and a $122.00 price target on the stock. Mizuho raised their target price on Wynn Resorts from $122.00 to $126.00 and gave the stock an “outperform” rating in a report on Monday, August 11th. Finally, UBS Group upgraded Wynn Resorts from a “neutral” rating to a “buy” rating and raised their target price for the stock from $101.00 to $147.00 in a report on Thursday, August 28th. Fourteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.47.

Wynn Resorts Stock Down 1.6%

Wynn Resorts stock opened at $120.90 on Wednesday. The business’s 50-day simple moving average is $111.62 and its 200 day simple moving average is $94.31. The stock has a market cap of $12.57 billion, a price-to-earnings ratio of 36.31, a P/E/G ratio of 6.32 and a beta of 1.37. Wynn Resorts has a 12-month low of $65.25 and a 12-month high of $128.53.

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

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.00 dividend on an annualized basis and a yield of 0.8%. Wynn Resorts’s payout ratio is presently 30.03%.

Insiders Place Their Bets

In other Wynn Resorts news, Director Patricia Mulroy sold 4,438 shares of Wynn Resorts stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total value of $554,750.00. Following the transaction, the director owned 3,066 shares of the company’s stock, valued at approximately $383,250. The trade was a 59.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Wynn Resorts

Hedge funds and other institutional investors have recently bought and sold shares of the company. MUFG Securities EMEA plc acquired a new stake in Wynn Resorts in the 2nd quarter valued at approximately $25,000. AlphaQuest LLC acquired a new stake in Wynn Resorts in the 1st quarter valued at approximately $25,000. Dagco Inc. acquired a new stake in Wynn Resorts in the 1st quarter valued at approximately $25,000. Global X Japan Co. Ltd. raised its position in Wynn Resorts by 120.7% in the 1st 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 last quarter. Finally, Manchester Capital Management LLC raised its position in Wynn Resorts by 1,500.0% in the 2nd 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 last quarter. 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.