Wynn Resorts (NASDAQ:WYNN) Price Target Raised to $115.00

Wynn Resorts (NASDAQ:WYNN) had its target price boosted by Morgan Stanley from $112.00 to $115.00 in a research note released on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the casino operator’s stock.

Several other equities research analysts also recently issued reports on the company. StockNews.com downgraded Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Stifel Nicolaus cut their price target on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a report on Friday, September 13th. Susquehanna raised their price target on Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a report on Friday, October 11th. Macquarie reaffirmed an “outperform” rating and set a $126.00 price target on shares of Wynn Resorts in a report on Wednesday, August 7th. Finally, UBS Group raised Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $116.21.

Wynn Resorts Stock Up 0.2 %

NASDAQ:WYNN opened at $97.90 on Tuesday. Wynn Resorts has a twelve month low of $71.63 and a twelve month high of $110.38. The business has a 50 day moving average price of $87.32 and a two-hundred day moving average price of $89.14. The company has a market cap of $10.97 billion, a P/E ratio of 13.41, a price-to-earnings-growth ratio of 2.57 and a beta of 1.81.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.91 EPS. As a group, analysts anticipate that Wynn Resorts will post 5.42 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were paid a $0.25 dividend. The ex-dividend date was Monday, August 19th. This represents a $1.00 dividend on an annualized basis and a yield of 1.02%. Wynn Resorts’s dividend payout ratio (DPR) is presently 13.70%.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the completion of the transaction, the director now owns 5,689 shares in the company, valued at $447,894.97. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Sei Investments Co. grew its stake in shares of Wynn Resorts by 5.6% during the 1st quarter. Sei Investments Co. now owns 139,038 shares of the casino operator’s stock worth $14,214,000 after acquiring an additional 7,380 shares during the period. Concord Investment Counsel Inc. bought a new position in shares of Wynn Resorts during the 1st quarter worth $2,461,000. UniSuper Management Pty Ltd grew its stake in shares of Wynn Resorts by 540.6% during the 1st quarter. UniSuper Management Pty Ltd now owns 10,179 shares of the casino operator’s stock worth $1,041,000 after acquiring an additional 8,590 shares during the period. Vanguard Group Inc. grew its stake in shares of Wynn Resorts by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock worth $1,127,456,000 after acquiring an additional 166,594 shares during the period. Finally, OPTIMAS CAPITAL Ltd bought a new position in Wynn Resorts in the 1st quarter worth about $3,394,000. Institutional investors own 68.87% of the company’s stock.

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.