Wynn Resorts (NASDAQ:WYNN) Price Target Raised to $128.00 at Wells Fargo & Company

Wynn Resorts (NASDAQ:WYNN) had its price target upped by Wells Fargo & Company from $125.00 to $128.00 in a research report report published on Wednesday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the casino operator’s stock.

Other research analysts have also issued research reports about the company. Susquehanna lifted their price target on Wynn Resorts from $105.00 to $115.00 and gave the stock a positive rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. lifted their price objective on shares of Wynn Resorts from $118.00 to $123.00 and gave the stock an overweight rating in a research note on Tuesday, February 27th. Stifel Nicolaus increased their target price on shares of Wynn Resorts from $135.00 to $138.00 and gave the company a buy rating in a research note on Wednesday. StockNews.com raised shares of Wynn Resorts from a hold rating to a buy rating in a research note on Thursday, April 4th. Finally, Macquarie increased their price objective on shares of Wynn Resorts from $122.00 to $128.00 and gave the stock an outperform rating in a research report on Friday, February 9th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $122.64.

Wynn Resorts Stock Performance

Shares of WYNN stock opened at $95.75 on Wednesday. The stock has a fifty day simple moving average of $100.24 and a two-hundred day simple moving average of $95.39. Wynn Resorts has a 52-week low of $81.65 and a 52-week high of $113.50. The firm has a market capitalization of $10.73 billion, a PE ratio of 16.01 and a beta of 1.91.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Tuesday, May 7th. The casino operator reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.16. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.80 billion. Wynn Resorts had a negative return on equity of 31.17% and a net margin of 11.18%. The firm’s revenue for the quarter was up 30.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.29 EPS. On average, sell-side analysts forecast that Wynn Resorts will post 5.37 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Monday, May 20th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.04%. Wynn Resorts’s dividend payout ratio (DPR) is presently 16.72%.

Insider Buying and Selling at Wynn Resorts

In related news, Director Patricia Mulroy sold 960 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $105.17, for a total transaction of $100,963.20. Following the completion of the transaction, the director now owns 522 shares of the company’s stock, valued at $54,898.74. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Julie Cameron-Doe sold 6,383 shares of Wynn Resorts stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $105.27, for a total transaction of $671,938.41. Following the completion of the transaction, the chief financial officer now directly owns 78,150 shares of the company’s stock, valued at approximately $8,226,850.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Patricia Mulroy sold 960 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $105.17, for a total transaction of $100,963.20. Following the sale, the director now directly owns 522 shares in the company, valued at $54,898.74. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.

Institutional Trading of Wynn Resorts

Institutional investors have recently bought and sold shares of the business. Stratos Wealth Partners LTD. purchased a new stake in shares of Wynn Resorts during the third quarter worth about $210,000. Bank of New York Mellon Corp raised its holdings in shares of Wynn Resorts by 15.1% during the third quarter. Bank of New York Mellon Corp now owns 977,064 shares of the casino operator’s stock valued at $90,291,000 after acquiring an additional 128,094 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Wynn Resorts by 21.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,071 shares of the casino operator’s stock valued at $4,257,000 after acquiring an additional 8,220 shares in the last quarter. IFM Investors Pty Ltd boosted its stake in shares of Wynn Resorts by 3.3% in the third quarter. IFM Investors Pty Ltd now owns 19,036 shares of the casino operator’s stock worth $1,759,000 after acquiring an additional 600 shares during the last quarter. Finally, ING Groep NV boosted its stake in shares of Wynn Resorts by 1,657.3% in the third quarter. ING Groep NV now owns 259,958 shares of the casino operator’s stock worth $24,023,000 after acquiring an additional 245,165 shares during the last quarter. 68.87% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Company Profile

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.