Wynn Resorts, Limited (NASDAQ:WYNN) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) have been given an average rating of “Moderate Buy” by the fifteen research firms that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $115.71.

Several research analysts have recently commented on WYNN shares. StockNews.com downgraded Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Morgan Stanley increased their target price on Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Susquehanna lifted 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. JPMorgan Chase & Co. increased their price objective on shares of Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Macquarie reiterated an “outperform” rating and set a $120.00 target price on shares of Wynn Resorts in a research report on Tuesday, November 5th.

Hedge Funds Weigh In On Wynn Resorts

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC acquired a new stake in shares of Wynn Resorts in the 2nd quarter valued at approximately $25,000. Wilmington Savings Fund Society FSB acquired a new position in Wynn Resorts during the third quarter valued at approximately $31,000. Blue Trust Inc. increased 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 purchasing an additional 467 shares in the last quarter. Allworth Financial LP raised its holdings in Wynn Resorts by 17.5% in the third quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock worth $86,000 after purchasing an additional 133 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of Wynn Resorts by 703.1% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,028 shares of the casino operator’s stock worth $99,000 after purchasing an additional 900 shares in the last quarter. Institutional investors own 88.64% of the company’s stock.

Wynn Resorts Price Performance

Wynn Resorts stock opened at $89.68 on Thursday. The firm has a market capitalization of $9.85 billion, a P/E ratio of 11.06, a P/E/G ratio of 3.46 and a beta of 1.78. The stock has a fifty day moving average price of $94.65 and a two-hundred day moving average price of $87.79. Wynn Resorts has a 52-week low of $71.63 and a 52-week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.99 EPS. On average, equities research analysts predict that Wynn Resorts will post 4.79 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.12%. Wynn Resorts’s dividend payout ratio (DPR) is presently 12.33%.

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.