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

Wynn Resorts, Limited (NASDAQ:WYNN) has earned an average rating of “Moderate Buy” from the twenty research firms that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, seventeen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $133.8235.

A number of equities analysts have recently issued reports on the stock. Barclays increased their price objective on shares of Wynn Resorts from $134.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Truist Financial initiated coverage on shares of Wynn Resorts in a research report on Wednesday, July 8th. They set a “buy” rating and a $125.00 target price on the stock. Wells Fargo & Company lowered their target price on shares of Wynn Resorts from $141.00 to $131.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $137.00 price target on shares of Wynn Resorts in a research report on Friday, May 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Wynn Resorts in a research note on Wednesday, June 24th.

Wynn Resorts Trading Down 0.0%

Shares of NASDAQ:WYNN opened at $91.54 on Friday. Wynn Resorts has a 1-year low of $89.44 and a 1-year high of $134.72. The firm has a market capitalization of $9.43 billion, a PE ratio of 22.71, a PEG ratio of 1.10 and a beta of 1.00. The business’s 50 day moving average is $97.90 and its 200-day moving average is $101.64.

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

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. Wynn Resorts’s dividend payout ratio is presently 24.81%.

Institutional Trading of Wynn Resorts

Several institutional investors have recently bought and sold shares of WYNN. MUFG Securities EMEA plc bought a new position in shares of Wynn Resorts during the second quarter valued at $25,000. Hantz Financial Services Inc. grew its holdings in shares of Wynn Resorts by 54.9% in the 4th quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock worth $30,000 after purchasing an additional 89 shares during the last quarter. SHP Wealth Management bought a new stake in shares of Wynn Resorts in the 4th quarter worth about $32,000. Geneos Wealth Management Inc. increased its position in shares of Wynn Resorts by 69.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after purchasing an additional 156 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in Wynn Resorts during the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Company Profile

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.