Wynn Resorts (NASDAQ:WYNN) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of Wynn Resorts (NASDAQ:WYNN) from a hold rating to a buy rating in a research report report published on Thursday morning.

A number of other research analysts also recently issued reports on WYNN. Seaport Res Ptn raised Wynn Resorts from a hold rating to a strong-buy rating in a report on Thursday, May 30th. Macquarie reduced their price target on shares of Wynn Resorts from $128.00 to $126.00 and set an outperform rating for the company in a research note on Tuesday, July 9th. Argus upgraded shares of Wynn Resorts from a hold rating to a buy rating and set a $110.00 price objective on the stock in a research report on Thursday, May 23rd. Wells Fargo & Company cut their target price on shares of Wynn Resorts from $128.00 to $126.00 and set an overweight rating for the company in a research report on Tuesday, July 2nd. Finally, Stifel Nicolaus increased their price target on Wynn Resorts from $135.00 to $138.00 and gave the company a buy rating in a report on Wednesday, May 8th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $119.53.

Wynn Resorts Price Performance

WYNN opened at $83.43 on Thursday. The firm has a market cap of $9.35 billion, a PE ratio of 11.43 and a beta of 1.82. The stock has a 50-day moving average price of $90.57 and a 200-day moving average price of $96.34. Wynn Resorts has a 1 year low of $81.65 and a 1 year high of $111.09.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Tuesday, May 7th. The casino operator reported $1.59 earnings per share (EPS) 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 analysts’ expectations of $1.80 billion. Wynn Resorts had a net margin of 12.36% and a negative return on equity of 46.04%. The business’s revenue for the quarter was up 30.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.29 earnings per share. As a group, sell-side analysts anticipate that Wynn Resorts will post 5.59 EPS for the current year.

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 20th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.20%. The ex-dividend date was Friday, May 17th. Wynn Resorts’s dividend payout ratio (DPR) is presently 13.70%.

Insider Buying and Selling

In other news, Director Betsy S. Atkins sold 2,446 shares of Wynn Resorts stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $94.39, for a total transaction of $230,877.94. Following the sale, the director now owns 9,226 shares in the company, valued at $870,842.14. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.52% of the stock is owned by insiders.

Institutional Investors Weigh In On Wynn Resorts

Several large investors have recently made changes to their positions in the company. Blue Trust Inc. boosted its position in shares of Wynn Resorts by 3,000.0% during the 4th quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock valued at $25,000 after acquiring an additional 270 shares during the last quarter. ICA Group Wealth Management LLC bought a new position in Wynn Resorts during the fourth quarter valued at $27,000. Register Financial Advisors LLC purchased a new position in shares of Wynn Resorts in the 1st quarter worth $37,000. GAMMA Investing LLC bought a new stake in shares of Wynn Resorts in the 4th quarter worth about $38,000. Finally, Federated Hermes Inc. increased its holdings in shares of Wynn Resorts by 47.5% in the 4th quarter. Federated Hermes Inc. now owns 435 shares of the casino operator’s stock worth $40,000 after buying an additional 140 shares during the last quarter. 68.87% of the stock is owned by institutional investors.

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.