Wynn Resorts (NASDAQ:WYNN) Upgraded to Buy 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 Wednesday.

Other analysts have also issued research reports about the stock. Macquarie reiterated an outperform rating and issued a $126.00 target price on shares of Wynn Resorts in a research report on Wednesday, August 7th. Wells Fargo & Company reduced their target price on Wynn Resorts from $126.00 to $115.00 and set an overweight rating for the company in a report on Wednesday, August 7th. Citigroup boosted their price target on Wynn Resorts from $132.00 to $138.00 and gave the stock a buy rating in a research report on Wednesday, May 8th. Morgan Stanley decreased their price objective on Wynn Resorts from $107.00 to $97.00 and set an equal weight rating on the stock in a report on Wednesday. Finally, Barclays increased their target price on shares of Wynn Resorts from $124.00 to $128.00 and gave the company an overweight rating in a research report on Thursday, May 9th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $116.07.

Wynn Resorts Stock Performance

Shares of Wynn Resorts stock opened at $77.04 on Wednesday. Wynn Resorts has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The company has a market cap of $8.63 billion, a P/E ratio of 10.55, a price-to-earnings-growth ratio of 1.72 and a beta of 1.82. The firm has a 50-day simple moving average of $80.42 and a two-hundred day simple moving average of $91.75.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period in the previous year, the business posted $0.91 earnings per share. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities research analysts forecast that Wynn Resorts will post 5.56 EPS for the current year.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.00 annualized dividend and a yield of 1.30%. Wynn Resorts’s payout ratio is 13.70%.

Institutional Investors Weigh In On Wynn Resorts

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC grew its holdings in shares of Wynn Resorts by 4,067.4% during the 4th quarter. International Assets Investment Management LLC now owns 7,668 shares of the casino operator’s stock worth $699,000 after purchasing an additional 7,484 shares during the period. Federated Hermes Inc. boosted its stake in Wynn Resorts by 47.5% during the fourth quarter. Federated Hermes Inc. now owns 435 shares of the casino operator’s stock worth $40,000 after buying an additional 140 shares during the period. Truist Financial Corp increased its position in shares of Wynn Resorts by 6.6% during the fourth quarter. Truist Financial Corp now owns 16,094 shares of the casino operator’s stock valued at $1,466,000 after acquiring an additional 1,002 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Wynn Resorts by 83.1% in the 4th quarter. Russell Investments Group Ltd. now owns 22,273 shares of the casino operator’s stock valued at $2,034,000 after acquiring an additional 10,107 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of Wynn Resorts by 359.6% in the 4th quarter. Victory Capital Management Inc. now owns 16,605 shares of the casino operator’s stock worth $1,513,000 after acquiring an additional 12,992 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.