Wynn Resorts, Limited (NASDAQ:WYNN) Receives $134.19 Consensus Price Target from Analysts

Wynn Resorts, Limited (NASDAQ:WYNN) has been given a consensus recommendation of “Moderate Buy” by the nineteen analysts that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, sixteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $134.1875.

WYNN has been the subject of a number of recent research reports. Truist Financial initiated coverage on shares of Wynn Resorts in a research note on Wednesday, July 8th. They issued a “buy” rating and a $125.00 price target for the company. Zacks Research upgraded shares of Wynn Resorts from a “strong sell” rating to a “hold” rating in a report on Monday, August 10th. Bank of America decreased their price objective on shares of Wynn Resorts from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Morgan Stanley reiterated an “overweight” rating and set a $128.00 target price on shares of Wynn Resorts in a research note on Wednesday, July 22nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Wynn Resorts in a report on Wednesday, June 24th.

Hedge Funds Weigh In On Wynn Resorts

A number of hedge funds have recently modified their holdings of WYNN. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Wynn Resorts in the second quarter valued at about $495,000. California State Teachers Retirement System grew its holdings in shares of Wynn Resorts by 9,349.7% during the second quarter. California State Teachers Retirement System now owns 9,093,255 shares of the casino operator’s stock worth $882,864,000 after buying an additional 8,997,027 shares during the last quarter. Wedmont Private Capital grew its holdings in shares of Wynn Resorts by 5.7% during the second quarter. Wedmont Private Capital now owns 2,845 shares of the casino operator’s stock worth $284,000 after buying an additional 154 shares during the last quarter. Operose Advisors LLC increased its position in Wynn Resorts by 400.0% in the 2nd quarter. Operose Advisors LLC now owns 500 shares of the casino operator’s stock valued at $49,000 after acquiring an additional 400 shares during the period. Finally, TD Waterhouse Canada Inc. increased its position in Wynn Resorts by 6,780.4% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 18,646 shares of the casino operator’s stock valued at $1,792,000 after acquiring an additional 18,375 shares during the period. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Wynn Resorts Trading Down 4.2%

Shares of NASDAQ WYNN opened at $91.28 on Friday. Wynn Resorts has a 12-month low of $90.87 and a 12-month high of $134.72. The stock has a market cap of $9.40 billion, a P/E ratio of 22.65, a PEG ratio of 0.83 and a beta of 1.01. The business’s fifty day simple moving average is $98.75 and its 200-day simple moving average is $102.15.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Tuesday, August 4th. The casino operator reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.25. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%.The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter last year, the company earned $1.09 EPS. Wynn Resorts’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities analysts forecast that Wynn Resorts will post 4.65 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, August 14th. Wynn Resorts’s dividend payout ratio is currently 24.81%.

Wynn Resorts Company Profile

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.