Wynn Resorts, Limited (NASDAQ:WYNN) Stock Has Average Price Target of $133.35

Wynn Resorts, Limited (NASDAQ:WYNN) has received a consensus rating of “Moderate Buy” from the twenty brokerages that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $133.35.

Several brokerages recently commented on WYNN. Wells Fargo & Company cut their target price on Wynn Resorts from $141.00 to $131.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 5th. Argus boosted their price target on Wynn Resorts from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Truist Financial initiated coverage on Wynn Resorts in a report on Wednesday, July 8th. They set a “buy” rating and a $125.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Wynn Resorts in a research report on Monday, September 21st. Finally, Zacks Research upgraded shares of Wynn Resorts from a “strong sell” rating to a “hold” rating in a research report on Monday, August 10th.

Institutional Trading of Wynn Resorts

Several large investors have recently made changes to their positions in the company. Capital World Investors boosted its holdings in Wynn Resorts by 0.6% in the fourth quarter. Capital World Investors now owns 9,542,392 shares of the casino operator’s stock worth $1,148,236,000 after acquiring an additional 61,209 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Wynn Resorts during the second quarter worth approximately $609,566,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Wynn Resorts during the second quarter worth approximately $321,402,000. State Street Corp lifted its holdings in shares of Wynn Resorts by 2.6% in the 2nd quarter. State Street Corp now owns 3,047,930 shares of the casino operator’s stock worth $295,924,000 after purchasing an additional 77,416 shares in the last quarter. Finally, Egerton Capital UK LLP acquired a new stake in Wynn Resorts in the 4th quarter valued at $249,053,000. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Wynn Resorts Stock Down 2.8%

WYNN opened at $78.23 on Wednesday. Wynn Resorts has a twelve month low of $77.06 and a twelve month high of $134.72. The company has a fifty day moving average of $93.75 and a 200-day moving average of $98.86. The stock has a market cap of $8.06 billion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 0.97 and a beta of 1.00.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Tuesday, August 4th. The casino operator reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.25. Wynn Resorts had a net margin of 6.05% and a negative return on equity of 46.52%. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the previous year, the business earned $1.09 earnings per share. Wynn Resorts’s revenue for the quarter was up 6.9% on a year-over-year basis. Sell-side analysts anticipate that Wynn Resorts will post 4.55 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, August 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. Wynn Resorts’s dividend payout ratio is currently 24.81%.

About Wynn Resorts

Wynn Resorts, Ltd. is a developer and operator of luxury integrated resorts that combine casino gaming, hotel accommodations, fine dining, entertainment, retail, and convention facilities. Its properties are designed to serve leisure travelers, convention visitors, and gaming customers.

The company operates Wynn and Encore resorts in Las Vegas, Nevada; Wynn Macau and Wynn Palace in Macau; and Encore Boston Harbor in Everett, Massachusetts. These properties offer casino floors, guest rooms and suites, restaurants, spas, theaters and other amenities, with operations serving customers from the United States, China and international markets.

Wynn Resorts was founded in 2002 by Steve Wynn, who previously helped develop major casino resorts in Las Vegas and Macau.