Wynn Resorts (NASDAQ:WYNN) Price Target Raised to $120.00 at Morgan Stanley

Wynn Resorts (NASDAQ:WYNN) had its price objective lifted by Morgan Stanley from $115.00 to $120.00 in a research report released on Thursday, Stock Target Advisor reports. They currently have an equal weight rating on the casino operator’s stock.

WYNN has been the topic of a number of other research reports. Credit Suisse Group increased their price target on Wynn Resorts from $120.00 to $125.00 and gave the company a neutral rating in a research note on Thursday. ValuEngine cut Wynn Resorts from a hold rating to a sell rating in a research note on Monday, October 21st. Union Gaming Research cut Wynn Resorts from a buy rating to a hold rating and dropped their price target for the company from $150.00 to $135.00 in a research note on Thursday. Standpoint Research started coverage on Wynn Resorts in a research note on Wednesday, September 4th. They issued a buy rating on the stock. Finally, BidaskClub upgraded Wynn Resorts from a sell rating to a hold rating in a research note on Saturday, October 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $137.59.

Shares of WYNN traded up $0.98 on Thursday, hitting $126.47. The company’s stock had a trading volume of 1,396,900 shares, compared to its average volume of 2,073,250. The firm has a market capitalization of $13.62 billion, a price-to-earnings ratio of 19.34, a P/E/G ratio of 2.43 and a beta of 2.07. The company has a quick ratio of 0.95, a current ratio of 1.00 and a debt-to-equity ratio of 5.00. Wynn Resorts has a fifty-two week low of $90.06 and a fifty-two week high of $151.50. The firm’s fifty day moving average price is $114.45 and its 200-day moving average price is $120.37.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Wednesday, November 6th. The casino operator reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.73). Wynn Resorts had a net margin of 12.41% and a return on equity of 34.98%. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter last year, the company posted $1.68 EPS. The firm’s revenue was down 3.6% on a year-over-year basis. As a group, equities analysts predict that Wynn Resorts will post 5.21 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, November 14th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Wednesday, November 13th. Wynn Resorts’s payout ratio is 61.16%.

In other Wynn Resorts news, CEO Matt Maddox sold 25,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $110.24, for a total transaction of $2,756,000.00. Following the transaction, the chief executive officer now owns 432,731 shares in the company, valued at approximately $47,704,265.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 75,000 shares of company stock worth $8,750,250 in the last quarter. Company insiders own 0.58% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. State of Michigan Retirement System increased its position in shares of Wynn Resorts by 0.4% in the third quarter. State of Michigan Retirement System now owns 23,270 shares of the casino operator’s stock worth $2,530,000 after purchasing an additional 100 shares during the period. Golden State Wealth Management LLC increased its position in shares of Wynn Resorts by 27.1% in the second quarter. Golden State Wealth Management LLC now owns 479 shares of the casino operator’s stock worth $59,000 after purchasing an additional 102 shares during the period. World Asset Management Inc increased its position in shares of Wynn Resorts by 1.5% in the third quarter. World Asset Management Inc now owns 7,242 shares of the casino operator’s stock worth $787,000 after purchasing an additional 105 shares during the period. Cookson Peirce & Co. Inc. increased its position in shares of Wynn Resorts by 2.6% in the second quarter. Cookson Peirce & Co. Inc. now owns 4,290 shares of the casino operator’s stock worth $532,000 after purchasing an additional 110 shares during the period. Finally, Northwest Investment Counselors LLC increased its position in shares of Wynn Resorts by 1.5% in the third quarter. Northwest Investment Counselors LLC now owns 7,798 shares of the casino operator’s stock worth $848,000 after purchasing an additional 116 shares during the period. Hedge funds and other institutional investors own 75.66% of the company’s stock.

About Wynn Resorts

Wynn Resorts, Limited owns and operates destination casino resorts. As of February 20, 2019, the company's Wynn Palace segment had approximately 424,000 square feet of casino space, which offered 320 table games and 1,041 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas; 13 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities comprising a gondola ride, health club, spa, salon, and pool; and public attractions, such as performance lake and floral art displays.

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