Analysts Set Wynn Resorts, Limited (NASDAQ:WYNN) Price Target at $121.43

Wynn Resorts, Limited (NASDAQ:WYNN) has been assigned an average rating of “Moderate Buy” from the twelve research firms that are covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $121.43.

A number of research firms have recently weighed in on WYNN. Susquehanna lifted their price target on shares of Wynn Resorts from $105.00 to $115.00 and gave the company a “positive” rating in a research report on Thursday, February 8th. Barclays boosted their price objective on shares of Wynn Resorts from $123.00 to $124.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Wells Fargo & Company boosted their price objective on shares of Wynn Resorts from $122.00 to $124.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Bank Of America (Bofa) boosted their price objective on shares of Wynn Resorts from $95.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 17th. Finally, UBS Group lowered their price objective on shares of Wynn Resorts from $117.00 to $108.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th.

Wynn Resorts Trading Up 1.5 %

NASDAQ WYNN opened at $96.71 on Wednesday. Wynn Resorts has a 1-year low of $81.65 and a 1-year high of $113.50. The company has a 50 day moving average of $100.75 and a 200-day moving average of $95.11. The company has a market cap of $10.84 billion, a price-to-earnings ratio of 16.17 and a beta of 1.91.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Wednesday, February 7th. The casino operator reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.76. Wynn Resorts had a net margin of 11.18% and a negative return on equity of 31.17%. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the business earned ($1.23) earnings per share. The firm’s quarterly revenue was up 83.1% on a year-over-year basis. On average, equities research analysts forecast that Wynn Resorts will post 5.37 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Tuesday, February 20th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, February 16th. This represents a $1.00 annualized dividend and a yield of 1.03%. Wynn Resorts’s dividend payout ratio is currently 16.72%.

Insider Buying and Selling

In other news, Director Patricia Mulroy sold 960 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $105.17, for a total value of $100,963.20. Following the completion of the sale, the director now directly owns 522 shares in the company, valued at approximately $54,898.74. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Patricia Mulroy sold 960 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $105.17, for a total transaction of $100,963.20. Following the transaction, the director now directly owns 522 shares of the company’s stock, valued at $54,898.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Craig Scott Billings sold 19,235 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $108.00, for a total value of $2,077,380.00. Following the completion of the transaction, the chief executive officer now owns 307,904 shares in the company, valued at $33,253,632. The disclosure for this sale can be found here. Insiders have sold a total of 26,578 shares of company stock valued at $2,850,282 over the last ninety days. 0.52% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in WYNN. Norges Bank bought a new position in shares of Wynn Resorts in the fourth quarter valued at $157,305,000. Sequoia Financial Advisors LLC raised its holdings in shares of Wynn Resorts by 20,031.9% in the third quarter. Sequoia Financial Advisors LLC now owns 506,519 shares of the casino operator’s stock valued at $46,807,000 after purchasing an additional 504,003 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Wynn Resorts by 20.7% in the third quarter. Invesco Ltd. now owns 1,449,064 shares of the casino operator’s stock valued at $133,908,000 after purchasing an additional 248,820 shares during the last quarter. ING Groep NV raised its holdings in shares of Wynn Resorts by 1,657.3% in the third quarter. ING Groep NV now owns 259,958 shares of the casino operator’s stock valued at $24,023,000 after purchasing an additional 245,165 shares during the last quarter. Finally, Eminence Capital LP purchased a new stake in shares of Wynn Resorts in the fourth quarter valued at about $15,089,000. 68.87% of the stock is owned by institutional investors.

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.