Wynn Resorts’ (WYNN) Outperform Rating Reaffirmed at Macquarie

Macquarie reaffirmed their outperform rating on shares of Wynn Resorts (NASDAQ:WYNN) in a research note released on Friday,Benzinga reports. Macquarie currently has a $115.00 target price on the casino operator’s stock.

WYNN has been the topic of a number of other research reports. JPMorgan Chase & Co. raised their price target on Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Morgan Stanley increased their price objective on Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft decreased their price objective on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Wells Fargo & Company decreased their price objective on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Finally, Mizuho increased their price objective on Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Wynn Resorts presently has an average rating of “Moderate Buy” and an average price target of $119.50.

Wynn Resorts Stock Up 10.4 %

NASDAQ:WYNN opened at $88.82 on Friday. The stock’s 50 day moving average price is $85.66 and its 200 day moving average price is $86.83. The company has a market capitalization of $9.75 billion, a PE ratio of 10.95, a P/E/G ratio of 2.32 and a beta of 1.76. Wynn Resorts has a 52-week low of $71.63 and a 52-week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, topping 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%. As a group, sell-side analysts anticipate that Wynn Resorts will post 4.69 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.13%. Wynn Resorts’s dividend payout ratio is currently 12.33%.

Hedge Funds Weigh In On Wynn Resorts

Hedge funds have recently bought and sold shares of the company. Regal Partners Ltd increased its stake in Wynn Resorts by 24.0% in the 3rd quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock valued at $86,168,000 after purchasing an additional 174,005 shares in the last quarter. Wellington Management Group LLP increased its stake in Wynn Resorts by 90.6% in the 3rd quarter. Wellington Management Group LLP now owns 115,707 shares of the casino operator’s stock valued at $11,094,000 after purchasing an additional 54,995 shares in the last quarter. Empirical Asset Management LLC purchased a new position in Wynn Resorts in the 4th quarter valued at approximately $903,000. Crystal Rock Capital Management purchased a new position in Wynn Resorts in the 3rd quarter valued at approximately $719,000. Finally, ARGA Investment Management LP purchased a new position in Wynn Resorts in the 3rd quarter valued at approximately $2,174,000. 88.64% of the stock is owned by hedge funds and other institutional investors.

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.