Wynn Resorts, Limited (NASDAQ:WYNN) Receives $119.58 Consensus Target Price from Brokerages

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) have been assigned a consensus recommendation of “Buy” from the fourteen analysts that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $119.58.

A number of equities analysts recently commented on WYNN shares. Deutsche Bank Aktiengesellschaft decreased their target price on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. JPMorgan Chase & Co. upped their target price on Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Morgan Stanley decreased their target price on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Wells Fargo & Company decreased their target price on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, Barclays upped their target price on Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Friday, February 14th.

Insider Activity

In related news, Director Philip G. Satre purchased 22,200 shares of Wynn Resorts stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the purchase, the director now directly owns 34,195 shares of the company’s stock, valued at approximately $3,152,095.10. This represents a 185.08 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WYNN. Fisher Asset Management LLC increased its stake in Wynn Resorts by 70.7% in the 3rd quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock worth $380,821,000 after buying an additional 1,644,965 shares during the period. Norges Bank purchased a new position in Wynn Resorts during the 4th quarter valued at about $117,352,000. Jericho Capital Asset Management L.P. purchased a new position in Wynn Resorts during the 4th quarter valued at about $101,375,000. Raymond James Financial Inc. purchased a new position in Wynn Resorts during the 4th quarter valued at about $75,872,000. Finally, Holocene Advisors LP grew its position in shares of Wynn Resorts by 27,868.5% in the 3rd quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock worth $72,672,000 after buying an additional 755,236 shares during the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wynn Resorts Stock Performance

NASDAQ:WYNN opened at $88.93 on Tuesday. The firm has a market cap of $9.46 billion, a PE ratio of 21.12, a price-to-earnings-growth ratio of 2.35 and a beta of 1.76. Wynn Resorts has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The business has a 50 day moving average price of $85.37 and a 200-day moving average price of $88.05.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $1.15. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.78 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. Research analysts predict that Wynn Resorts will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Monday, February 24th. Wynn Resorts’s dividend payout ratio is currently 23.75%.

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.