Wynn Resorts, Limited (NASDAQ:WYNN) Receives Average Rating of “Moderate Buy” from Brokerages

Wynn Resorts, Limited (NASDAQ:WYNN) has earned an average recommendation of “Moderate Buy” from the nineteen analysts that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, sixteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $138.6875.

A number of equities research analysts have issued reports on WYNN shares. Morgan Stanley cut their target price on Wynn Resorts from $136.00 to $133.00 and set an “overweight” rating on the stock in a research note on Thursday, May 14th. Bank of America lowered their price target 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. Jefferies Financial Group cut their price objective on shares of Wynn Resorts from $161.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Wynn Resorts in a research note on Wednesday, June 24th. Finally, Susquehanna decreased their target price on shares of Wynn Resorts from $133.00 to $127.00 and set a “positive” rating for the company in a research report on Thursday, April 16th.

Wynn Resorts Trading Down 1.3%

Shares of Wynn Resorts stock opened at $95.90 on Friday. The business’s 50 day simple moving average is $100.82 and its 200-day simple moving average is $106.30. The stock has a market capitalization of $9.95 billion, a price-to-earnings ratio of 28.63, a PEG ratio of 0.91 and a beta of 0.99. Wynn Resorts has a twelve month low of $93.15 and a twelve month high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Thursday, May 7th. The casino operator reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.82 billion. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.07 EPS. Sell-side analysts predict that Wynn Resorts will post 4.61 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were given a dividend of $0.25 per share. The ex-dividend date was Monday, May 18th. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Wynn Resorts’s payout ratio is currently 29.85%.

Institutional Trading of Wynn Resorts

Large investors have recently added to or reduced their stakes in the business. MUFG Securities EMEA plc bought a new position in shares of Wynn Resorts in the second quarter worth $25,000. Hantz Financial Services Inc. raised its stake in shares of Wynn Resorts by 54.9% during the fourth quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock valued at $30,000 after purchasing an additional 89 shares in the last quarter. Cromwell Holdings LLC raised its stake in shares of Wynn Resorts by 68.2% during the fourth quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock valued at $31,000 after purchasing an additional 103 shares in the last quarter. SHP Wealth Management acquired a new stake in Wynn Resorts in the fourth quarter worth about $32,000. Finally, Geneos Wealth Management Inc. grew its position in Wynn Resorts by 69.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock valued at $32,000 after buying an additional 156 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.

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.