Wynn Resorts, Limited (NASDAQ:WYNN) Receives $112.92 Consensus PT from Analysts

Wynn Resorts, Limited (NASDAQ:WYNN) has earned an average rating of “Moderate Buy” from the fifteen brokerages that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $112.92.

A number of equities analysts have weighed in on WYNN shares. Macquarie reissued an “outperform” rating and set a $115.00 price objective on shares of Wynn Resorts in a research note on Friday, February 14th. Stifel Nicolaus set a $113.00 price objective on Wynn Resorts in a research note on Wednesday, May 7th. Morgan Stanley lowered their price objective on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Bank of America raised Wynn Resorts from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research note on Wednesday, May 7th. Finally, Argus lowered Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, April 23rd.

Insider Activity at Wynn Resorts

In related news, Director Philip G. Satre purchased 22,200 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were bought at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the acquisition, the director now directly owns 34,195 shares in the company, valued at $3,152,095.10. This trade represents a 185.08% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Tilman J. Fertitta purchased 300,000 shares of the business’s stock in a transaction on Friday, April 4th. The shares were bought at an average price of $70.37 per share, for a total transaction of $21,111,000.00. Following the acquisition, the insider now owns 12,900,000 shares in the company, valued at $907,773,000. This trade represents a 2.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 438,700 shares of company stock worth $31,300,943. 0.52% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Wynn Resorts

Large investors have recently bought and sold shares of the stock. Dagco Inc. purchased a new position in shares of Wynn Resorts in the 1st quarter valued at about $25,000. AlphaQuest LLC purchased a new position in shares of Wynn Resorts in the 1st quarter valued at about $25,000. New Wave Wealth Advisors LLC purchased a new position in shares of Wynn Resorts in the 4th quarter valued at about $26,000. Global X Japan Co. Ltd. increased its holdings in shares of Wynn Resorts by 120.7% in the 1st quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator’s stock valued at $27,000 after acquiring an additional 175 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Wynn Resorts in the 3rd quarter valued at about $31,000. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wynn Resorts Stock Performance

NASDAQ WYNN opened at $97.75 on Friday. The business has a fifty day moving average price of $81.27 and a 200 day moving average price of $85.85. Wynn Resorts has a one year low of $65.25 and a one year high of $107.81. The company has a market cap of $10.22 billion, a P/E ratio of 23.22, a P/E/G ratio of 2.35 and a beta of 1.33.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Tuesday, May 6th. The casino operator reported $1.07 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.17). The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The firm’s revenue for the quarter was down 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.59 earnings per share. As a group, sell-side analysts predict that Wynn Resorts will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.00 annualized dividend and a dividend yield of 1.02%. Wynn Resorts’s dividend payout ratio is presently 27.78%.

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.