Wynn Resorts, Limited (NASDAQ:WYNN) Given Average Recommendation of “Buy” by Analysts

Wynn Resorts, Limited (NASDAQ:WYNN) has been assigned a consensus recommendation of “Buy” from the fourteen research firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $119.58.

WYNN has been the topic of several recent research reports. Mizuho upped their price objective on Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, February 14th. Macquarie reaffirmed an “outperform” rating and set a $115.00 price target on shares of Wynn Resorts in a research note on Friday, February 14th. Barclays lifted their price objective on shares of Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Stifel Nicolaus upped their target price on shares of Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Finally, StockNews.com lowered Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th.

Wynn Resorts Stock Performance

WYNN opened at $85.83 on Friday. The stock has a market capitalization of $9.11 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 2.35 and a beta of 1.77. The company has a fifty day moving average of $85.93 and a 200 day moving average of $89.10. Wynn Resorts has a fifty-two week low of $71.63 and a fifty-two week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last issued 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%. On average, equities research analysts forecast that Wynn Resorts will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a dividend of $0.25 per share. The ex-dividend date was Monday, February 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.17%. Wynn Resorts’s dividend payout ratio (DPR) is 23.75%.

Insider Activity

In other news, Director Philip G. Satre purchased 22,200 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the acquisition, the director now owns 34,195 shares of the company’s stock, valued at approximately $3,152,095.10. This trade represents a 185.08 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Tilman J. Fertitta acquired 11,475 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was purchased at an average cost of $84.93 per share, for a total transaction of $974,571.75. Following the purchase, the insider now owns 12,600,000 shares of the company’s stock, valued at $1,070,118,000. This represents a 0.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 38,700 shares of company stock valued at $3,427,943. 0.52% of the stock is currently owned by company insiders.

Institutional Trading of Wynn Resorts

A number of hedge funds have recently added to or reduced their stakes in WYNN. PKO Investment Management Joint Stock Co bought a new stake in shares of Wynn Resorts in the 4th quarter valued at about $948,000. Siemens Fonds Invest GmbH bought a new position in Wynn Resorts in the fourth quarter worth approximately $115,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Wynn Resorts during the fourth quarter worth $1,361,000. Heck Capital Advisors LLC bought a new stake in Wynn Resorts during the 4th quarter valued at $386,000. Finally, Mackenzie Financial Corp purchased a new position in shares of Wynn Resorts in the 4th quarter valued at $282,000. 88.64% of the stock is owned by hedge funds and other 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.