Wynn Resorts, Limited (NASDAQ:WYNN) Receives Consensus Rating of “Moderate Buy” from Brokerages

Wynn Resorts, Limited (NASDAQ:WYNN) has earned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are currently covering the company, MarketBeat.com reports. Three research analysts have 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 analysts that have covered the stock in the last year is $114.20.

WYNN has been the topic of several research reports. Jefferies Financial Group cut their price objective on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Stifel Nicolaus dropped their price target on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Morgan Stanley raised Wynn Resorts from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $97.00 to $104.00 in a research report on Friday, September 27th. Macquarie reissued an “outperform” rating and issued a $126.00 price target on shares of Wynn Resorts in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. dropped their price target on Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th.

Wynn Resorts Stock Performance

Wynn Resorts stock opened at $105.45 on Friday. The stock’s 50 day simple moving average is $80.07 and its two-hundred day simple moving average is $89.24. The stock has a market cap of $11.70 billion, a price-to-earnings ratio of 14.45, a PEG ratio of 2.63 and a beta of 1.81. 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 posted its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.02). The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The business’s revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.91 earnings per share. On average, analysts predict that Wynn Resorts will post 5.44 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were given a dividend of $0.25 per share. The ex-dividend date was Monday, August 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.95%. Wynn Resorts’s payout ratio is 13.70%.

Insider Activity

In related news, Director Patricia Mulroy sold 2,650 shares of Wynn Resorts stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the completion of the transaction, the director now owns 5,689 shares in the company, valued at approximately $447,894.97. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in WYNN. Vanguard Group Inc. lifted its stake in Wynn Resorts by 1.5% in the first quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock worth $1,127,456,000 after purchasing an additional 166,594 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Wynn Resorts by 0.4% in the fourth quarter. Fisher Asset Management LLC now owns 3,928,031 shares of the casino operator’s stock worth $357,883,000 after purchasing an additional 16,799 shares during the last quarter. Renaissance Technologies LLC lifted its stake 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 worth $120,386,000 after purchasing an additional 303,033 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Wynn Resorts by 22.2% in the first quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock worth $115,082,000 after purchasing an additional 204,852 shares during the last quarter. Finally, Bamco Inc. NY lifted its stake in Wynn Resorts by 5.1% in the first quarter. Bamco Inc. NY now owns 788,335 shares of the casino operator’s stock worth $80,591,000 after purchasing an additional 38,160 shares during the last quarter. Hedge funds and other institutional investors own 68.87% of the company’s stock.

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.