Wynn Resorts Ltd. (WYNN) Stock Price Up 5.5%
Shares of Wynn Resorts Ltd. (NASDAQ:WYNN) rose 5.5% on Thursday . The stock traded as high as $95.26 and last traded at $94.22, with a volume of 4,620,135 shares trading hands. The stock had previously closed at $89.32.
WYNN has been the subject of several analyst reports. Nomura cut shares of Wynn Resorts from a “neutral” rating to a “reduce” rating and increased their price target for the company from $78.00 to $83.00 in a research note on Friday, July 29th. Vetr raised shares of Wynn Resorts from a “buy” rating to a “strong-buy” rating and set a $112.54 price target for the company in a research note on Wednesday, August 10th. Morgan Stanley reissued an “overweight” rating on shares of Wynn Resorts in a research note on Wednesday, June 29th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Wynn Resorts in a research report on Thursday, May 5th. Finally, Gabelli reaffirmed a “buy” rating on shares of Wynn Resorts in a research report on Sunday, May 8th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $97.33.
The firm’s 50 day moving average is $96.93 and its 200 day moving average is $93.18. The stock has a market cap of $9.44 billion and a price-to-earnings ratio of 28.800.
Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Thursday, July 28th. The casino operator reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.16. The firm earned $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Wynn Resorts’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.74 earnings per share. On average, analysts expect that Wynn Resorts Ltd. will post $3.81 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 23rd. Investors of record on Thursday, August 11th were issued a $0.50 dividend. The ex-dividend date was Tuesday, August 9th. This represents a $2.00 annualized dividend and a yield of 2.24%.
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.
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