Morgan Stanley Boosts Wynn Resorts (NASDAQ:WYNN) Price Target to $115.00

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

A number of other equities analysts have also recently weighed in on the stock. Stifel Nicolaus lowered their price objective on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research report on Friday, September 13th. UBS Group raised Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. Susquehanna upped their target price on shares of Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a research note on Friday, October 11th. Macquarie reaffirmed an “outperform” rating and set a $126.00 price objective on shares of Wynn Resorts in a research report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Wynn Resorts from $131.00 to $122.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $116.21.

Wynn Resorts Stock Up 0.1 %

NASDAQ:WYNN opened at $97.99 on Tuesday. Wynn Resorts has a 52 week low of $71.63 and a 52 week high of $110.38. The stock’s fifty day moving average is $87.75 and its two-hundred day moving average is $89.08. The company has a market capitalization of $10.98 billion, a P/E ratio of 13.42, a P/E/G ratio of 2.57 and a beta of 1.81.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 earnings per share (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 analysts’ expectations of $1.74 billion. Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.91 earnings per share. Sell-side analysts anticipate that Wynn Resorts will post 5.42 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

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

Insider Activity at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,650 shares of the company’s stock in a transaction on Monday, September 16th. The shares were 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 approximately $447,894.97. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.52% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Wynn Resorts

Institutional investors and hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC acquired a new stake in shares of Wynn Resorts during the second quarter worth about $25,000. Register Financial Advisors LLC acquired a new position in Wynn Resorts during the first quarter worth approximately $37,000. Blue Trust Inc. lifted its stake in Wynn Resorts by 556.0% in the third quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after buying an additional 467 shares during the last quarter. Versant Capital Management Inc acquired a new stake in shares of Wynn Resorts in the second quarter valued at approximately $51,000. Finally, Covestor Ltd grew its position in shares of Wynn Resorts by 421.7% during the first quarter. Covestor Ltd now owns 626 shares of the casino operator’s stock worth $64,000 after acquiring an additional 506 shares during the last quarter. 68.87% of the stock is owned by hedge funds and other 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.