Deutsche Bank restated their buy rating on shares of Wynn Resorts (NASDAQ:WYNN) in a report issued on Wednesday, Analyst RN reports. They currently have a $191.00 target price on the stock, down from their previous target price of $195.00.
“With the Macau gaming stocks taking a bit of a pause post; 1) strong October Macau results, 2) in line to slightly better than expected 3Q13 reports, & 3) some capital return catalysts, we felt it was an appropriate time to examine what’s implied in WYNN & LVS here. In short, we believe current levels are advantageous as the near term sequential Macau GGR deceleration opens the door to better entry points for bigger picture stories that we believe continue to evolve and play out. While valuation from an EV/EBITDA perspective is neither cheap nor lofty, we believe using a broader valuation metric approach continues to make both appealing for the near and longer term.,” the firm’s analyst commented.
Wynn Resorts (NASDAQ:WYNN) opened at 158.39 on Wednesday. Wynn Resorts has a 1-year low of $106.63 and a 1-year high of $173.38. The stock’s 50-day moving average is $165.5 and its 200-day moving average is $145.. The company has a market cap of $15.947 billion and a P/E ratio of 25.64.
Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Thursday, October 24th. The company reported $1.84 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.65 by $0.19. The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the company posted $1.48 earnings per share. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. Analysts expect that Wynn Resorts will post $6.94 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, December 6th. Investors of record on Wednesday, November 20th will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 7.58%. The ex-dividend date of this dividend is Monday, November 18th.
A number of other analysts have also recently weighed in on WYNN. Analysts at FBR & Co. initiated coverage on shares of Wynn Resorts in a research note to investors on Wednesday, November 13th. They set a market perform rating on the stock. Separately, analysts at FBR Capital Markets initiated coverage on shares of Wynn Resorts in a research note to investors on Wednesday, November 13th. They set a market perform rating and a $175.00 price target on the stock. Finally, analysts at Thomson Reuters/Verus upgraded shares of Wynn Resorts from a hold rating to a buy rating in a research note to investors on Monday, November 4th. Eleven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $162.81.
In other Wynn Resorts news, SVP Kimmarie Sinatra unloaded 10,000 shares of Wynn Resorts stock on the open market in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $168.38, for a total transaction of $1,683,800.00. Following the transaction, the senior vice president now directly owns 65,287 shares of the company’s stock, valued at approximately $10,993,025. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Wynn Resorts, Limited is a developer, owner and operator of destination casino resorts. The Company owns and operates two destination casino resorts.
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