Wynn Resorts, Limited (NASDAQ:WYNN) Receives $140.69 Consensus Target Price from Brokerages

Wynn Resorts, Limited (NASDAQ:WYNN) has been given a consensus recommendation of “Moderate Buy” by the sixteen analysts that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $140.1538.

Several analysts have recently commented on WYNN shares. Morgan Stanley lifted their price target on shares of Wynn Resorts from $132.00 to $139.00 and gave the company an “overweight” rating in a research report on Friday. Zacks Research lowered Wynn Resorts from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Barclays increased their price target on Wynn Resorts from $141.00 to $143.00 and gave the stock an “overweight” rating in a report on Friday. Wells Fargo & Company initiated coverage on shares of Wynn Resorts in a report on Tuesday, November 18th. They issued an “overweight” rating and a $151.00 price objective on the stock. Finally, Texas Capital upgraded shares of Wynn Resorts to a “strong-buy” rating in a research report on Thursday, January 8th.

Institutional Investors Weigh In On Wynn Resorts

A number of institutional investors have recently modified their holdings of the company. Westside Investment Management Inc. raised its stake in shares of Wynn Resorts by 40.2% during the third quarter. Westside Investment Management Inc. now owns 338 shares of the casino operator’s stock valued at $44,000 after purchasing an additional 97 shares in the last quarter. Private Wealth Partners LLC increased its stake in Wynn Resorts by 3.1% during the 2nd quarter. Private Wealth Partners LLC now owns 3,360 shares of the casino operator’s stock valued at $315,000 after buying an additional 100 shares during the period. Parallel Advisors LLC raised its position in shares of Wynn Resorts by 21.6% during the 3rd quarter. Parallel Advisors LLC now owns 563 shares of the casino operator’s stock worth $72,000 after buying an additional 100 shares in the last quarter. Cromwell Holdings LLC lifted its stake in shares of Wynn Resorts by 68.2% in the 4th quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock worth $31,000 after acquiring an additional 103 shares during the period. Finally, UMB Bank n.a. boosted its holdings in shares of Wynn Resorts by 41.5% in the third quarter. UMB Bank n.a. now owns 385 shares of the casino operator’s stock valued at $49,000 after acquiring an additional 113 shares in the last quarter. 88.64% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Stock Down 2.7%

Shares of NASDAQ:WYNN opened at $111.28 on Friday. Wynn Resorts has a 52-week low of $65.25 and a 52-week high of $134.72. The stock has a market cap of $11.57 billion, a P/E ratio of 24.89, a PEG ratio of 14.65 and a beta of 1.08. The business has a fifty day moving average of $122.69 and a two-hundred day moving average of $119.82.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Thursday, November 6th. The casino operator reported $0.86 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.23). Wynn Resorts had a net margin of 7.09% and a negative return on equity of 54.88%. The firm had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period in the previous year, the firm posted $0.90 EPS. The company’s revenue was up 8.3% compared to the same quarter last year. On average, equities analysts anticipate that Wynn Resorts will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Monday, November 17th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. Wynn Resorts’s payout ratio is presently 22.37%.

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.