Wynn Resorts (NASDAQ:WYNN) Research Coverage Started at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of Wynn Resorts (NASDAQ:WYNN) in a report released on Tuesday, MarketBeat Ratings reports. The firm issued an overweight rating and a $151.00 target price on the casino operator’s stock.

A number of other research analysts have also commented on the company. Zacks Research raised Wynn Resorts from a “hold” rating to a “strong-buy” rating in a report on Monday, October 27th. Morgan Stanley boosted their price target on shares of Wynn Resorts from $113.00 to $128.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. JPMorgan Chase & Co. increased their price objective on shares of Wynn Resorts from $136.00 to $138.00 and gave the company an “overweight” rating in a report on Friday, November 7th. The Goldman Sachs Group boosted their target price on Wynn Resorts from $124.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Finally, Argus upgraded Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research report on Wednesday, September 3rd. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $134.38.

Wynn Resorts Trading Down 1.0%

Shares of NASDAQ:WYNN opened at $117.14 on Tuesday. The firm’s 50 day moving average is $123.23 and its two-hundred day moving average is $109.84. The firm has a market capitalization of $12.18 billion, a P/E ratio of 35.18, a PEG ratio of 4.94 and a beta of 1.32. Wynn Resorts has a 52 week low of $65.25 and a 52 week high of $134.23.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Thursday, November 6th. The casino operator reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.23). Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%.The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.76 billion. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.90 earnings per share. Analysts predict that Wynn Resorts will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Monday, November 17th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Monday, November 17th. Wynn Resorts’s dividend payout ratio (DPR) is presently 22.37%.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 4,438 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total value of $554,750.00. Following the transaction, the director owned 3,066 shares of the company’s stock, valued at approximately $383,250. This represents a 59.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Wynn Resorts

A number of hedge funds have recently modified their holdings of WYNN. Sunbelt Securities Inc. lifted its holdings in shares of Wynn Resorts by 23.8% during the third quarter. Sunbelt Securities Inc. now owns 3,364 shares of the casino operator’s stock valued at $432,000 after purchasing an additional 647 shares during the last quarter. Advisory Services Network LLC acquired a new position in shares of Wynn Resorts in the third quarter worth about $70,000. Armistice Capital LLC boosted its holdings in shares of Wynn Resorts by 160.7% in the third quarter. Armistice Capital LLC now owns 116,944 shares of the casino operator’s stock worth $15,000,000 after buying an additional 72,087 shares during the period. CANADA LIFE ASSURANCE Co increased its position in shares of Wynn Resorts by 0.8% in the third quarter. CANADA LIFE ASSURANCE Co now owns 20,598 shares of the casino operator’s stock worth $2,728,000 after acquiring an additional 161 shares in the last quarter. Finally, Woodline Partners LP raised its holdings in shares of Wynn Resorts by 17.2% during the third quarter. Woodline Partners LP now owns 11,147 shares of the casino operator’s stock valued at $1,430,000 after acquiring an additional 1,639 shares during the period. 88.64% of the stock is currently 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.