Wynn Resorts (NASDAQ:WYNN) Given New $116.00 Price Target at Barclays

Wynn Resorts (NASDAQ:WYNN) had its target price boosted by Barclays from $115.00 to $116.00 in a research report sent to investors on Friday,Benzinga reports. The firm currently has an overweight rating on the casino operator’s stock.

Several other analysts also recently issued reports on WYNN. JPMorgan Chase & Co. boosted their target price on shares of Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Mizuho boosted their target price on shares of Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday. Macquarie reissued an “outperform” rating and set a $120.00 target price on shares of Wynn Resorts in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Finally, Morgan Stanley boosted their target price on shares of Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $119.50.

Wynn Resorts Price Performance

WYNN opened at $88.82 on Friday. The company has a market capitalization of $9.75 billion, a price-to-earnings ratio of 10.95, a price-to-earnings-growth ratio of 2.32 and a beta of 1.76. Wynn Resorts has a 1-year low of $71.63 and a 1-year high of $110.38. The business has a 50 day moving average price of $85.66 and a two-hundred day moving average price of $86.83.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. Equities analysts expect that Wynn Resorts will post 4.69 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, February 24th. This represents a $1.00 annualized dividend and a yield of 1.13%. Wynn Resorts’s dividend payout ratio (DPR) is currently 12.33%.

Hedge Funds Weigh In On Wynn Resorts

Institutional investors have recently bought and sold shares of the stock. New Wave Wealth Advisors LLC bought a new position in Wynn Resorts during the fourth quarter valued at about $26,000. Wilmington Savings Fund Society FSB bought a new position in Wynn Resorts during the third quarter valued at about $31,000. SBI Securities Co. Ltd. bought a new position in Wynn Resorts during the fourth quarter valued at about $36,000. Spire Wealth Management grew its position in shares of Wynn Resorts by 116.4% in the fourth quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock valued at $37,000 after purchasing an additional 234 shares during the last quarter. Finally, Canada Post Corp Registered Pension Plan acquired a new stake in shares of Wynn Resorts in the fourth quarter valued at about $45,000. 88.64% of the stock is currently owned by institutional investors.

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.