Brokerages Set Wynn Resorts, Limited (NASDAQ:WYNN) Price Target at $116.36

Wynn Resorts, Limited (NASDAQ:WYNN) has received an average recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the firm, Marketbeat.com reports. Three 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 company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $116.36.

A number of analysts recently issued reports on the company. Barclays cut their price objective on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price target on shares of Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Morgan Stanley upped their price objective on shares of Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Wells Fargo & Company cut their target price on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Finally, Macquarie restated an “outperform” rating and set a $120.00 price target on shares of Wynn Resorts in a research note on Tuesday, November 5th.

Institutional Investors Weigh In On Wynn Resorts

Several institutional investors have recently modified their holdings of WYNN. Fisher Asset Management LLC raised its stake in Wynn Resorts by 70.7% in the third quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock valued at $380,821,000 after buying an additional 1,644,965 shares in the last quarter. Holocene Advisors LP raised its position in shares of Wynn Resorts by 27,868.5% during the 3rd quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock worth $72,672,000 after acquiring an additional 755,236 shares in the last quarter. Eagle Asset Management Inc. purchased a new stake in Wynn Resorts during the third quarter worth approximately $58,486,000. Renaissance Technologies LLC boosted its holdings 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 purchasing an additional 303,033 shares in the last quarter. Finally, Weiss Asset Management LP purchased a new position in Wynn Resorts in the third quarter valued at approximately $19,753,000. 88.64% of the stock is owned by hedge funds and other institutional investors.

Wynn Resorts Price Performance

NASDAQ:WYNN opened at $81.15 on Monday. The company’s 50-day moving average is $89.49 and its two-hundred day moving average is $87.14. 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 $8.91 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 3.46 and a beta of 1.77.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.73 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The company’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.99 earnings per share. As a group, equities analysts anticipate that Wynn Resorts will post 4.79 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.23%. The ex-dividend date was Friday, November 15th. 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.