Wynn Resorts, Limited (NASDAQ:WYNN) Receives $121.31 Consensus Target Price from Analysts

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) have been given a consensus rating of “Moderate Buy” by the fourteen research firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $121.31.

Several equities analysts recently commented on WYNN shares. Citigroup boosted their price target on Wynn Resorts from $132.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Stifel Nicolaus upped their target price on shares of Wynn Resorts from $135.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. StockNews.com raised shares of Wynn Resorts from a “hold” rating to a “buy” rating in a research note on Friday, May 17th. Argus raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a research report on Thursday, May 23rd. Finally, Wells Fargo & Company boosted their price target on Wynn Resorts from $125.00 to $128.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th.

Wynn Resorts Stock Down 0.2 %

Wynn Resorts stock opened at $88.13 on Thursday. The firm has a market capitalization of $9.88 billion, a P/E ratio of 12.07 and a beta of 1.85. The firm has a fifty day moving average of $94.05 and a 200-day moving average of $96.81. Wynn Resorts has a 52-week low of $81.65 and a 52-week high of $112.25.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Tuesday, May 7th. The casino operator reported $1.59 EPS for the quarter, beating the consensus estimate of $1.43 by $0.16. Wynn Resorts had a negative return on equity of 46.04% and a net margin of 12.36%. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the company posted $0.29 earnings per share. The firm’s revenue was up 30.9% compared to the same quarter last year. On average, research analysts expect that Wynn Resorts will post 5.59 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.13%. Wynn Resorts’s dividend payout ratio (DPR) is 13.70%.

Insider Activity at Wynn Resorts

In other Wynn Resorts news, Director Betsy S. Atkins sold 2,446 shares of Wynn Resorts stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $94.39, for a total value of $230,877.94. Following the completion of the transaction, the director now owns 9,226 shares of the company’s stock, valued at $870,842.14. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Wynn Resorts

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale boosted its position in Wynn Resorts by 18.4% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 14,630 shares of the casino operator’s stock valued at $1,332,000 after purchasing an additional 2,272 shares during the period. Kestra Advisory Services LLC grew its position in shares of Wynn Resorts by 11.4% during the third quarter. Kestra Advisory Services LLC now owns 6,202 shares of the casino operator’s stock worth $573,000 after acquiring an additional 633 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Wynn Resorts by 823.4% during the third quarter. Nordea Investment Management AB now owns 62,142 shares of the casino operator’s stock worth $5,833,000 after acquiring an additional 55,412 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Wynn Resorts by 20.7% in the 3rd quarter. Invesco Ltd. now owns 1,449,064 shares of the casino operator’s stock worth $133,908,000 after acquiring an additional 248,820 shares during the period. Finally, V Square Quantitative Management LLC bought a new stake in Wynn Resorts in the 3rd quarter valued at about $192,000. 68.87% of the stock is currently owned by institutional investors and hedge funds.

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.