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

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) have been assigned a consensus recommendation of “Moderate Buy” from the nineteen research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, sixteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $136.25.

WYNN has been the subject of several research analyst reports. Truist Financial assumed coverage on shares of Wynn Resorts in a report on Wednesday, July 8th. They issued a “buy” rating and a $125.00 price objective for the company. Bank of America dropped their price target on Wynn Resorts from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Weiss Ratings restated a “hold (c)” rating on shares of Wynn Resorts in a report on Wednesday, June 24th. Barclays decreased their price objective on shares of Wynn Resorts from $139.00 to $134.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $137.00 target price on shares of Wynn Resorts in a report on Friday, May 8th.

Wynn Resorts Stock Up 1.1%

Shares of Wynn Resorts stock opened at $98.11 on Friday. The business has a 50-day moving average price of $100.44 and a 200 day moving average price of $105.92. Wynn Resorts has a fifty-two week low of $93.15 and a fifty-two week high of $134.72. The firm has a market cap of $10.18 billion, a P/E ratio of 29.29, a P/E/G ratio of 0.90 and a beta of 0.99.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Thursday, May 7th. The casino operator reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the previous year, the firm posted $1.07 EPS. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Wynn Resorts will post 4.61 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were given a dividend of $0.25 per share. The ex-dividend date was Monday, May 18th. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. Wynn Resorts’s dividend payout ratio (DPR) is presently 29.85%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. grew its holdings in shares of Wynn Resorts by 54.9% during the 4th quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock valued at $30,000 after acquiring an additional 89 shares in the last quarter. Cromwell Holdings LLC raised its stake in shares of Wynn Resorts by 68.2% during the 4th quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock worth $31,000 after purchasing an additional 103 shares in the last quarter. MUFG Securities EMEA plc acquired a new stake in shares of Wynn Resorts during the 2nd quarter valued at about $25,000. SHP Wealth Management bought a new stake in shares of Wynn Resorts in the 4th quarter valued at approximately $32,000. Finally, International Assets Investment Management LLC acquired a new position in Wynn Resorts in the fourth quarter worth approximately $34,000. 88.64% of the stock is owned by hedge funds and other institutional investors.

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.