Wynn Resorts, Limited (NASDAQ:WYNN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $116.36.

A number of equities research analysts have weighed in on WYNN shares. Jefferies Financial Group cut their price target on shares of Wynn Resorts from $109.00 to $105.00 and set a “hold” rating for the company in a report on Friday, January 3rd. Susquehanna increased their target price on shares of Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a research note on Friday, October 11th. Morgan Stanley lifted their price target on shares of Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company cut their price objective on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th.

Wynn Resorts Price Performance

NASDAQ WYNN opened at $81.15 on Monday. Wynn Resorts has a 12 month low of $71.63 and a 12 month high of $110.38. The firm has a market capitalization of $8.91 billion, a PE ratio of 10.01, a P/E/G ratio of 3.46 and a beta of 1.77. The company’s 50 day simple moving average is $89.78 and its 200 day simple moving average is $87.21.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.11). The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.73 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.99 earnings per share. Sell-side analysts anticipate that Wynn Resorts will post 4.79 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Friday, November 15th. Wynn Resorts’s dividend payout ratio (DPR) is 12.33%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. IHT Wealth Management LLC raised its holdings in shares of Wynn Resorts by 1.7% during the third quarter. IHT Wealth Management LLC now owns 6,766 shares of the casino operator’s stock worth $654,000 after acquiring an additional 112 shares in the last quarter. Allworth Financial LP grew its position in Wynn Resorts by 17.5% in the third quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock worth $86,000 after acquiring an additional 133 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Wynn Resorts by 2.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,540 shares of the casino operator’s stock valued at $496,000 after purchasing an additional 149 shares in the last quarter. Prospera Financial Services Inc boosted its holdings in Wynn Resorts by 4.1% in the third quarter. Prospera Financial Services Inc now owns 4,616 shares of the casino operator’s stock worth $443,000 after purchasing an additional 181 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in Wynn Resorts by 6.9% during the third quarter. Public Sector Pension Investment Board now owns 3,078 shares of the casino operator’s stock valued at $295,000 after purchasing an additional 200 shares during the last quarter. 88.64% of the stock is owned by hedge funds and other institutional investors.

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.