Wynn Resorts (NASDAQ:WYNN) PT Raised to $124.00 at Barclays

Wynn Resorts (NASDAQ:WYNN) had its price objective raised by Barclays from $123.00 to $124.00 in a research report report published on Friday, Benzinga reports. The brokerage currently has an overweight rating on the casino operator’s stock.

A number of other research analysts have also commented on the company. Wells Fargo & Company increased their price objective on Wynn Resorts from $122.00 to $124.00 and gave the company an overweight rating in a research report on Thursday, February 8th. Mizuho began coverage on Wynn Resorts in a research report on Thursday, April 4th. They issued a buy rating and a $131.00 price objective on the stock. StockNews.com upgraded Wynn Resorts from a hold rating to a buy rating in a research report on Thursday, April 4th. Susquehanna raised their price target on Wynn Resorts from $105.00 to $115.00 and gave the stock a positive rating in a research report on Thursday, February 8th. Finally, UBS Group reduced their price target on Wynn Resorts from $117.00 to $108.00 and set a neutral rating on the stock in a research report on Tuesday, February 6th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $121.43.

Wynn Resorts Trading Up 2.6 %

Shares of WYNN opened at $97.48 on Friday. Wynn Resorts has a 1 year low of $81.65 and a 1 year high of $117.86. The stock has a 50 day simple moving average of $102.12 and a 200-day simple moving average of $94.99. The stock has a market cap of $10.93 billion, a PE ratio of 16.30 and a beta of 1.93.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Wednesday, February 7th. The casino operator reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.76. Wynn Resorts had a negative return on equity of 31.17% and a net margin of 11.18%. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period last year, the firm posted ($1.23) EPS. The business’s revenue was up 83.1% on a year-over-year basis. On average, sell-side analysts forecast that Wynn Resorts will post 5.37 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Tuesday, February 20th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.03%. The ex-dividend date was Friday, February 16th. Wynn Resorts’s dividend payout ratio is 16.72%.

Insider Activity at Wynn Resorts

In related news, CEO Craig Scott Billings sold 19,235 shares of Wynn Resorts stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $108.00, for a total value of $2,077,380.00. Following the sale, the chief executive officer now owns 307,904 shares of the company’s stock, valued at $33,253,632. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Craig Scott Billings sold 19,235 shares of Wynn Resorts stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $108.00, for a total transaction of $2,077,380.00. Following the completion of the transaction, the chief executive officer now owns 307,904 shares in the company, valued at $33,253,632. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patricia Mulroy sold 960 shares of Wynn Resorts stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $105.17, for a total value of $100,963.20. Following the transaction, the director now owns 522 shares of the company’s stock, valued at approximately $54,898.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,578 shares of company stock valued at $2,850,282. 0.52% of the stock is owned by insiders.

Hedge Funds Weigh In On Wynn Resorts

A number of hedge funds and other institutional investors have recently bought and sold shares of WYNN. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Wynn Resorts by 23.9% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 72,989 shares of the casino operator’s stock worth $7,462,000 after acquiring an additional 14,087 shares during the period. PFG Investments LLC bought a new stake in shares of Wynn Resorts during the first quarter worth approximately $210,000. IFM Investors Pty Ltd boosted its holdings in shares of Wynn Resorts by 4.0% during the first quarter. IFM Investors Pty Ltd now owns 19,801 shares of the casino operator’s stock worth $2,024,000 after acquiring an additional 765 shares during the period. First Trust Direct Indexing L.P. bought a new stake in shares of Wynn Resorts during the first quarter worth approximately $260,000. Finally, Norden Group LLC bought a new stake in shares of Wynn Resorts during the first quarter worth approximately $231,000. Institutional investors own 68.87% of the company’s stock.

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.