Wynn Resorts (NASDAQ:WYNN) Upgraded at StockNews.com

StockNews.com upgraded shares of Wynn Resorts (NASDAQ:WYNN) from a hold rating to a buy rating in a report issued on Tuesday.

A number of other research firms have also recently weighed in on WYNN. Barclays upped their price objective on shares of Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Mizuho upped their price objective on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, February 14th. Jefferies Financial Group upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and upped their price objective for the stock from $105.00 to $118.00 in a research report on Tuesday. Stifel Nicolaus upped their price objective on shares of Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Finally, Morgan Stanley increased their target price on shares of Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $120.58.

Wynn Resorts Stock Performance

Shares of NASDAQ WYNN opened at $93.47 on Tuesday. The company’s fifty day moving average price is $85.39 and its 200 day moving average price is $87.14. The company has a market capitalization of $9.95 billion, a PE ratio of 22.20, a price-to-earnings-growth ratio of 2.64 and a beta of 1.76. Wynn Resorts has a 1 year low of $71.63 and a 1 year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $1.15. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. On average, equities analysts expect that Wynn Resorts will post 4.87 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Monday, February 24th. Wynn Resorts’s payout ratio is currently 23.75%.

Insider Buying and Selling

In other news, Director Philip G. Satre acquired 22,200 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the transaction, the director now owns 34,195 shares in the company, 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 Securities & Exchange Commission, which is available at this link. 0.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On Wynn Resorts

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

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.