Wynn Resorts, Limited (NASDAQ:WYNN) Receives $135.44 Average Price Target from Brokerages

Wynn Resorts, Limited (NASDAQ:WYNN) has received a consensus rating of “Moderate Buy” from the nineteen brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, sixteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $134.1875.

WYNN has been the topic of several research reports. Citigroup restated a “buy” rating on shares of Wynn Resorts in a report on Thursday. Bank of America decreased their target price on shares of Wynn Resorts from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Barclays raised their price target on Wynn Resorts from $134.00 to $136.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. JPMorgan Chase & Co. cut their price objective on Wynn Resorts from $135.00 to $134.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. Finally, Stifel Nicolaus set a $143.00 price objective on Wynn Resorts in a research report on Wednesday, August 5th.

Hedge Funds Weigh In On Wynn Resorts

Several institutional investors have recently made changes to their positions in the business. Hantz Financial Services Inc. increased its holdings in 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 buying an additional 89 shares during the last quarter. Horizon Investments LLC grew its position in shares of Wynn Resorts by 6.7% during the 4th quarter. Horizon Investments LLC now owns 1,500 shares of the casino operator’s stock valued at $180,000 after acquiring an additional 94 shares during the period. QRG Capital Management Inc. increased its stake in shares of Wynn Resorts by 4.9% in the 1st quarter. QRG Capital Management Inc. now owns 2,071 shares of the casino operator’s stock worth $210,000 after purchasing an additional 96 shares in the last quarter. Parallel Advisors LLC raised its holdings in Wynn Resorts by 21.6% in the 3rd quarter. Parallel Advisors LLC now owns 563 shares of the casino operator’s stock worth $72,000 after purchasing an additional 100 shares during the period. Finally, Larson Financial Group LLC raised its holdings in Wynn Resorts by 23.5% in the 4th quarter. Larson Financial Group LLC now owns 557 shares of the casino operator’s stock worth $67,000 after purchasing an additional 106 shares during the period. Institutional investors own 88.64% of the company’s stock.

Wynn Resorts Price Performance

Shares of Wynn Resorts stock opened at $102.50 on Tuesday. Wynn Resorts has a 1 year low of $92.52 and a 1 year high of $134.72. The firm has a market cap of $10.64 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 1.00 and a beta of 1.01. The company has a 50-day moving average of $100.45 and a 200 day moving average of $103.60.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Tuesday, August 4th. The casino operator reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter in the previous year, the business posted $1.09 EPS. Wynn Resorts’s revenue was up 6.9% compared to the same quarter last year. On average, equities analysts anticipate that Wynn Resorts will post 4.54 EPS for the current year.

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid 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 is Friday, August 14th. Wynn Resorts’s payout ratio is currently 24.81%.

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.