Wynn Resorts Ltd. (WYNN) Trading 3.3% Higher
Wynn Resorts Ltd. (NASDAQ:WYNN) shares traded up 3.3% during trading on Thursday . The company traded as high as $103.78 and last traded at $102.92, with a volume of 2,400,630 shares trading hands. The stock had previously closed at $99.59.
A number of research analysts have recently commented on the company. Vetr raised Wynn Resorts from a “hold” rating to a “buy” rating and set a $103.36 target price on the stock in a research note on Monday, August 1st. Citigroup Inc. reiterated a “buy” rating and issued a $117.00 price target (up previously from $101.00) on shares of Wynn Resorts in a report on Wednesday, April 13th. Zacks Investment Research upgraded Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a report on Monday, August 1st. Deutsche Bank AG reiterated a “hold” rating on shares of Wynn Resorts in a report on Sunday, June 26th. Finally, Morgan Stanley upgraded Wynn Resorts from an “underweight” rating to an “equal weight” rating in a report on Friday, June 3rd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $96.30.
The firm has a market capitalization of $10.41 billion and a PE ratio of 31.76. The company’s 50 day moving average is $95.31 and its 200 day moving average is $89.57.
Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Thursday, July 28th. The casino operator reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.16. During the same period last year, the company earned $0.74 earnings per share. The company earned $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. The business’s revenue was up 1.7% compared to the same quarter last year. Equities research analysts expect that Wynn Resorts Ltd. will post $3.89 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 23rd. Stockholders of record on Thursday, August 11th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, August 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.95%.
Several hedge funds recently made changes to their positions in the stock. Andra AP fonden boosted its stake in shares of Wynn Resorts by 137.7% in the fourth quarter. Andra AP fonden now owns 16,400 shares of the casino operator’s stock worth $1,135,000 after buying an additional 9,500 shares during the period. Aberdeen Asset Management PLC UK boosted its stake in shares of Wynn Resorts by 12.2% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 21,054 shares of the casino operator’s stock worth $1,330,000 after buying an additional 2,290 shares during the period. Stephens Inc. AR boosted its stake in shares of Wynn Resorts by 183.0% in the fourth quarter. Stephens Inc. AR now owns 27,928 shares of the casino operator’s stock worth $1,932,000 after buying an additional 18,058 shares during the period. Bank of Montreal Can boosted its stake in shares of Wynn Resorts by 5.2% in the fourth quarter. Bank of Montreal Can now owns 31,178 shares of the casino operator’s stock worth $2,158,000 after buying an additional 1,536 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Wynn Resorts by 2.1% in the fourth quarter. Principal Financial Group Inc. now owns 104,053 shares of the casino operator’s stock worth $7,199,000 after buying an additional 2,140 shares during the period.
Wynn Resorts, Limited is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company operates through two segments: Macau Operations and Las Vegas Operations.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.