Brokerages Set Wynn Resorts, Limited (NASDAQ:WYNN) PT at $115.71

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) have been assigned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $115.71.

A number of brokerages have recently commented on WYNN. UBS Group raised shares of Wynn Resorts to a “hold” rating in a research report on Friday, August 23rd. StockNews.com downgraded Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Macquarie reiterated an “outperform” rating and issued a $120.00 target price on shares of Wynn Resorts in a report on Tuesday, November 5th. Susquehanna raised their price target on Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a research note on Friday, October 11th. Finally, Morgan Stanley upped their price objective on shares of Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd.

Insider Transactions at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,650 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the sale, the director now owns 5,689 shares in the company, valued at approximately $447,894.97. The trade was a 31.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Wynn Resorts

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Regal Partners Ltd increased its stake in Wynn Resorts by 24.0% during the 3rd quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock valued at $86,168,000 after purchasing an additional 174,005 shares in the last quarter. UniSuper Management Pty Ltd increased its position in shares of Wynn Resorts by 540.6% in the 1st quarter. UniSuper Management Pty Ltd now owns 10,179 shares of the casino operator’s stock valued at $1,041,000 after acquiring an additional 8,590 shares during the period. Vanguard Group Inc. raised its stake in Wynn Resorts by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock worth $1,127,456,000 after acquiring an additional 166,594 shares during the last quarter. Cetera Investment Advisers lifted its position in Wynn Resorts by 326.5% during the 1st quarter. Cetera Investment Advisers now owns 25,980 shares of the casino operator’s stock worth $2,656,000 after acquiring an additional 19,889 shares during the period. Finally, Crystal Rock Capital Management purchased a new stake in Wynn Resorts during the 3rd quarter valued at about $719,000. 68.87% of the stock is owned by hedge funds and other institutional investors.

Wynn Resorts Stock Up 0.9 %

Shares of Wynn Resorts stock opened at $91.25 on Friday. The stock’s fifty day moving average is $92.71 and its two-hundred day moving average is $88.13. Wynn Resorts has a 52 week low of $71.63 and a 52 week high of $110.38. The company has a market capitalization of $10.02 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 3.26 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the company posted $0.99 earnings per share. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, research analysts anticipate that Wynn Resorts will post 4.87 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 annualized dividend and a yield of 1.10%. Wynn Resorts’s dividend payout ratio (DPR) is 12.33%.

About Wynn Resorts

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.