Analysts Set Wynn Resorts, Limited (NASDAQ:WYNN) Price Target at $119.58

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

A number of brokerages recently weighed in on WYNN. Barclays raised their target price on shares of Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. StockNews.com cut Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Stifel Nicolaus increased their price target on Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Morgan Stanley cut their price objective on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. Finally, Jefferies Financial Group upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and raised their target price for the stock from $105.00 to $118.00 in a report on Tuesday, February 18th.

Insider Activity

In other news, major shareholder Tilman J. Fertitta acquired 100,000 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The shares were purchased at an average price of $67.62 per share, for a total transaction of $6,762,000.00. Following the completion of the acquisition, the insider now owns 13,000,000 shares of the company’s stock, valued at approximately $879,060,000. This represents a 0.78 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Philip G. Satre bought 22,200 shares of Wynn Resorts stock in a transaction on Tuesday, February 18th. The stock was acquired at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the purchase, the director now directly owns 34,195 shares of the company’s stock, valued at approximately $3,152,095.10. The trade was a 185.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 438,700 shares of company stock worth $31,300,943 in the last ninety days. Corporate insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Wynn Resorts

Several hedge funds have recently bought and sold shares of WYNN. MML Investors Services LLC increased its holdings in shares of Wynn Resorts by 135.7% during the 3rd quarter. MML Investors Services LLC now owns 17,000 shares of the casino operator’s stock valued at $1,630,000 after acquiring an additional 9,788 shares during the last quarter. M&T Bank Corp boosted its position in Wynn Resorts by 8.7% during the third quarter. M&T Bank Corp now owns 4,358 shares of the casino operator’s stock worth $418,000 after purchasing an additional 348 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Wynn Resorts during the third quarter valued at approximately $31,000. Synovus Financial Corp bought a new position in shares of Wynn Resorts in the third quarter valued at approximately $202,000. Finally, Franklin Resources Inc. boosted its holdings in shares of Wynn Resorts by 0.5% during the 3rd quarter. Franklin Resources Inc. now owns 250,962 shares of the casino operator’s stock worth $26,088,000 after buying an additional 1,165 shares during the period. 88.64% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Stock Performance

Shares of WYNN stock opened at $74.77 on Wednesday. The stock has a market cap of $7.94 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 2.35 and a beta of 1.53. The business’s fifty day moving average is $82.72 and its 200-day moving average is $87.78. Wynn Resorts has a 1 year low of $65.25 and a 1 year high of $107.81.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, topping the consensus estimate of $1.27 by $1.15. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Equities research analysts predict that Wynn Resorts will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts’s dividend payout ratio (DPR) is currently 23.75%.

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.