Wynn Resorts, Limited (NASDAQ:WYNN) Receives $115.71 Average PT from Analysts

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $115.71.

Several analysts recently commented on WYNN shares. Morgan Stanley raised 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. StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Barclays decreased their target price on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Susquehanna increased their price target on shares of Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a report on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a report on Tuesday, November 5th.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction dated 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 sale, the director now owns 5,689 shares in the company, valued at approximately $447,894.97. This represents a 31.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.52% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Wynn Resorts

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC increased its stake in Wynn Resorts by 70.7% during the third quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock worth $380,821,000 after acquiring an additional 1,644,965 shares during the last quarter. Holocene Advisors LP raised its stake in Wynn Resorts by 27,868.5% in the third quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock valued at $72,672,000 after buying an additional 755,236 shares in the last quarter. Eagle Asset Management Inc. acquired a new stake in shares of Wynn Resorts during the 3rd quarter worth about $58,486,000. Interval Partners LP lifted its position in shares of Wynn Resorts by 999.0% during the 1st quarter. Interval Partners LP now owns 400,911 shares of the casino operator’s stock worth $40,985,000 after buying an additional 364,432 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in Wynn Resorts by 29.1% in the second quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock valued at $120,386,000 after acquiring an additional 303,033 shares during the last quarter. Institutional investors and hedge funds own 68.87% of the company’s stock.

Wynn Resorts Price Performance

NASDAQ:WYNN opened at $91.25 on Friday. The company’s fifty day moving average price is $92.71 and its 200-day moving average price is $88.13. Wynn Resorts has a 1-year low of $71.63 and a 1-year high of $110.38. The firm has a market capitalization of $10.02 billion, a P/E ratio of 11.25, a PEG ratio of 3.26 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.11). The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. Wynn Resorts’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.99 earnings per share. Equities analysts anticipate that Wynn Resorts will post 4.87 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.10%. Wynn Resorts’s dividend payout ratio (DPR) is presently 12.33%.

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.