Wynn Resorts (NASDAQ:WYNN) Price Target Increased to $124.00 by Analysts at Barclays

Wynn Resorts (NASDAQ:WYNN) had its target price raised by Barclays from $123.00 to $124.00 in a report released on Friday morning, Benzinga reports. They currently have an overweight rating on the casino operator’s stock.

A number of other equities analysts have also recently commented on WYNN. StockNews.com raised Wynn Resorts from a hold rating to a buy rating in a report on Thursday, April 4th. Morgan Stanley boosted their price target on Wynn Resorts from $107.00 to $114.00 and gave the stock an equal weight rating in a report on Tuesday, April 9th. Mizuho assumed coverage on Wynn Resorts in a report on Thursday, April 4th. They set a buy rating and a $131.00 price target for the company. JPMorgan Chase & Co. boosted their price target on Wynn Resorts from $118.00 to $123.00 and gave the stock an overweight rating in a report on Tuesday, February 27th. Finally, Macquarie boosted their price target on Wynn Resorts from $122.00 to $128.00 and gave the stock an outperform rating in a report on Friday, February 9th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $121.43.

Wynn Resorts Price Performance

Shares of NASDAQ WYNN opened at $94.99 on Friday. The stock has a market capitalization of $10.65 billion, a PE ratio of 15.88 and a beta of 1.93. The business has a fifty day moving average price of $102.28 and a two-hundred day moving average price of $94.86. Wynn Resorts has a fifty-two week low of $81.65 and a fifty-two week high of $117.86.

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

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Tuesday, February 20th were given a $0.25 dividend. The ex-dividend date was Friday, February 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.05%. Wynn Resorts’s dividend payout ratio (DPR) is presently 16.72%.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 960 shares of the company’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 sale, the director now owns 522 shares in the company, valued at approximately $54,898.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Patricia Mulroy sold 960 shares of the business’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 transaction, the director now directly owns 522 shares of the company’s stock, valued at approximately $54,898.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Craig Scott Billings sold 19,235 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were 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 directly owns 307,904 shares in the company, valued at $33,253,632. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,578 shares of company stock worth $2,850,282. Insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in WYNN. American Century Companies Inc. raised its stake in Wynn Resorts by 12.0% during the 1st quarter. American Century Companies Inc. now owns 9,786 shares of the casino operator’s stock worth $780,000 after buying an additional 1,048 shares during the period. MetLife Investment Management LLC raised its stake in Wynn Resorts by 43.5% during the 1st quarter. MetLife Investment Management LLC now owns 33,369 shares of the casino operator’s stock worth $2,661,000 after buying an additional 10,117 shares during the period. Panagora Asset Management Inc. raised its stake in Wynn Resorts by 147.2% during the 1st quarter. Panagora Asset Management Inc. now owns 12,728 shares of the casino operator’s stock worth $1,015,000 after buying an additional 7,580 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Wynn Resorts by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,083 shares of the casino operator’s stock worth $1,123,000 after buying an additional 872 shares during the period. Finally, BlackRock Inc. raised its stake in Wynn Resorts by 0.4% during the 1st quarter. BlackRock Inc. now owns 6,846,725 shares of the casino operator’s stock worth $545,957,000 after buying an additional 30,460 shares during the period. 68.87% of the stock is owned by institutional investors and hedge funds.

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.