Wynn Resorts, Limited (NASDAQ:WYNN) Receives $138.87 Average Target Price from Analysts

Wynn Resorts, Limited (NASDAQ:WYNN) has been assigned an average recommendation of “Moderate Buy” from the seventeen ratings firms that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $138.8667.

Several research firms recently issued reports on WYNN. JPMorgan Chase & Co. boosted their target price on shares of Wynn Resorts from $138.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, December 8th. Susquehanna reissued a “positive” rating and issued a $133.00 price objective on shares of Wynn Resorts in a research report on Thursday, February 12th. The Goldman Sachs Group reissued a “buy” rating and issued a $148.00 price objective on shares of Wynn Resorts in a research note on Monday, December 15th. Macquarie Infrastructure restated an “outperform” rating and set a $143.00 target price on shares of Wynn Resorts in a research report on Monday, December 8th. Finally, Zacks Research cut Wynn Resorts from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th.

Wynn Resorts Stock Performance

Wynn Resorts stock opened at $100.43 on Friday. The firm has a market cap of $10.47 billion, a price-to-earnings ratio of 33.48, a PEG ratio of 11.78 and a beta of 1.01. Wynn Resorts has a 52-week low of $65.25 and a 52-week high of $134.72. The firm has a 50 day moving average price of $111.41 and a two-hundred day moving average price of $119.67.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Thursday, February 12th. The casino operator reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.16). Wynn Resorts had a net margin of 4.59% and a negative return on equity of 39.05%. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the prior year, the company posted $2.42 earnings per share. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, equities research analysts predict that Wynn Resorts will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Monday, February 23rd. Wynn Resorts’s dividend payout ratio is presently 33.33%.

Institutional Trading of Wynn Resorts

Hedge funds have recently modified their holdings of the stock. Egerton Capital UK LLP bought a new position in Wynn Resorts during the fourth quarter worth $249,053,000. Norges Bank acquired a new stake in Wynn Resorts in the second quarter worth $106,289,000. Palidye Holdings Caymans Ltd bought a new stake in Wynn Resorts in the second quarter valued at $104,629,000. Zurich Insurance Group Ltd FI acquired a new position in shares of Wynn Resorts during the third quarter valued at about $110,213,000. Finally, Thrivent Financial for Lutherans raised its holdings in shares of Wynn Resorts by 6,391.3% during the second quarter. Thrivent Financial for Lutherans now owns 748,769 shares of the casino operator’s stock valued at $70,138,000 after purchasing an additional 737,234 shares during the period. Institutional investors own 88.64% of the company’s stock.

About Wynn Resorts

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.