Wynn Resorts (NASDAQ:WYNN) PT Lowered to $126.00 at Wells Fargo & Company

Wynn Resorts (NASDAQ:WYNN) had its target price lowered by Wells Fargo & Company from $128.00 to $126.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an overweight rating on the casino operator’s stock.

Several other analysts have also recently commented on WYNN. Seaport Res Ptn upgraded shares of Wynn Resorts from a hold rating to a strong-buy rating in a research note on Thursday, May 30th. Argus upgraded 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 note on Thursday, May 23rd. Citigroup raised their price objective on shares of Wynn Resorts from $132.00 to $138.00 and gave the company a buy rating in a research note on Wednesday, May 8th. Stifel Nicolaus raised their price objective 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. Finally, Barclays raised their price objective on shares of Wynn Resorts from $124.00 to $128.00 and gave the company an overweight rating in a research note on Thursday, May 9th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $121.15.

Wynn Resorts Price Performance

Shares of NASDAQ:WYNN opened at $87.28 on Tuesday. The stock has a market cap of $9.78 billion, a P/E ratio of 11.96 and a beta of 1.82. The firm has a fifty day moving average price of $92.97 and a 200 day moving average price of $96.75. Wynn Resorts has a 1-year low of $81.65 and a 1-year high of $112.25.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Tuesday, May 7th. The casino operator reported $1.59 EPS for the quarter, topping the consensus estimate of $1.43 by $0.16. Wynn Resorts had a net margin of 12.36% and a negative return on equity of 46.04%. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the business earned $0.29 EPS. The business’s revenue was up 30.9% on a year-over-year basis. Sell-side analysts expect that Wynn Resorts will post 5.63 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 20th were given a $0.25 dividend. The ex-dividend date was Friday, May 17th. This represents a $1.00 annualized dividend and a dividend yield of 1.15%. Wynn Resorts’s dividend payout ratio is presently 13.70%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its position in shares of Wynn Resorts by 25.1% during the second quarter. GAMMA Investing LLC now owns 828 shares of the casino operator’s stock worth $74,000 after purchasing an additional 166 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Wynn Resorts by 2.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 12,229 shares of the casino operator’s stock worth $1,239,000 after purchasing an additional 300 shares in the last quarter. Garde Capital Inc. lifted its position in shares of Wynn Resorts by 10.1% during the first quarter. Garde Capital Inc. now owns 1,737 shares of the casino operator’s stock worth $177,000 after purchasing an additional 160 shares in the last quarter. Cetera Advisors LLC increased its stake in shares of Wynn Resorts by 9.4% in the first quarter. Cetera Advisors LLC now owns 9,870 shares of the casino operator’s stock worth $1,009,000 after buying an additional 850 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake in shares of Wynn Resorts by 326.5% in the first quarter. Cetera Investment Advisers now owns 25,980 shares of the casino operator’s stock worth $2,656,000 after buying an additional 19,889 shares during the last quarter. 68.87% of the stock is 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.