Wynn Resorts, Limited (NASDAQ:WYNN) Stock Has Average Price Target of $133.35 According to Brokerages

Wynn Resorts, Limited (NASDAQ:WYNN) has received an average recommendation of “Moderate Buy” from the twenty brokerages that are covering the stock, MarketBeat Ratings reports. Two 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 12 month target price among analysts that have issued ratings on the stock in the last year is $133.35.

Several equities research analysts have commented on the company. Truist Financial began coverage on Wynn Resorts in a report on Wednesday, July 8th. They issued a “buy” rating and a $125.00 target price on the stock. Mizuho reduced their price target on Wynn Resorts from $133.00 to $125.00 and set an “outperform” rating for the company in a report on Tuesday, July 28th. Argus lifted their price target on Wynn Resorts from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Zacks Research upgraded shares of Wynn Resorts from a “strong sell” rating to a “hold” rating in a research note on Monday, August 10th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Wynn Resorts in a research report on Monday.

Wynn Resorts Stock Performance

Shares of NASDAQ WYNN opened at $81.12 on Wednesday. The company has a 50 day simple moving average of $94.38 and a two-hundred day simple moving average of $99.19. Wynn Resorts has a fifty-two week low of $77.06 and a fifty-two week high of $134.72. The company has a market capitalization of $8.35 billion, a price-to-earnings ratio of 20.13, a P/E/G ratio of 0.96 and a beta of 1.00.

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

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, August 14th. Wynn Resorts’s dividend payout ratio is currently 24.81%.

Institutional Investors Weigh In On Wynn Resorts

Institutional investors and hedge funds have recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its holdings in shares of Wynn Resorts by 56.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 20,324 shares of the casino operator’s stock valued at $1,973,000 after buying an additional 7,348 shares during the period. State Street Corp increased its position in Wynn Resorts by 2.6% during the second quarter. State Street Corp now owns 3,047,930 shares of the casino operator’s stock valued at $295,924,000 after acquiring an additional 77,416 shares during the last quarter. Tidal Investments LLC purchased a new stake in Wynn Resorts during the second quarter valued at $278,000. Nykredit A S bought a new position in Wynn Resorts in the second quarter valued at about $307,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Wynn Resorts in the second quarter valued at about $495,000. Institutional investors own 88.64% of the company’s stock.

About Wynn Resorts

Wynn Resorts, Ltd. is a global luxury hospitality and entertainment company that develops and operates integrated resorts. Its properties combine casino gaming with hotel accommodations, fine dining, retail shopping, nightlife, entertainment, spas and meeting facilities.

The company operates Wynn Las Vegas and Encore Las Vegas in Nevada, Encore Boston Harbor in Massachusetts, and Wynn Macau and Encore Macau in Macau. These properties serve leisure and business travelers, gaming customers and convention guests across the United States and Asia.

Founded in 2002 by casino executive Steve Wynn, Wynn Resorts has expanded its portfolio through destination resorts focused on premium service and design.