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

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) have earned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $116.36.

A number of research firms have recently weighed in on WYNN. JPMorgan Chase & Co. increased their price objective on Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Jefferies Financial Group cut their target price on Wynn Resorts from $109.00 to $105.00 and set a “hold” rating on the stock in a research note on Friday. Wells Fargo & Company lowered their price target 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, Susquehanna lifted their price objective on Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a research report on Friday, October 11th.

Hedge Funds Weigh In On Wynn Resorts

Several institutional investors and hedge funds have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB purchased a new position in Wynn Resorts in the third quarter worth about $31,000. Blue Trust Inc. increased its position in shares of Wynn Resorts by 556.0% during the third quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after acquiring an additional 467 shares in the last quarter. Allworth Financial LP raised its holdings in Wynn Resorts by 17.5% in the 3rd quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock worth $86,000 after acquiring an additional 133 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Wynn Resorts by 703.1% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,028 shares of the casino operator’s stock valued at $99,000 after purchasing an additional 900 shares during the last quarter. Finally, Covestor Ltd boosted its stake in Wynn Resorts by 207.4% during the 3rd quarter. Covestor Ltd now owns 1,408 shares of the casino operator’s stock valued at $135,000 after purchasing an additional 950 shares during the last quarter. 88.64% of the stock is currently owned by institutional investors.

Wynn Resorts Price Performance

NASDAQ:WYNN opened at $83.32 on Monday. The company has a market capitalization of $9.15 billion, a price-to-earnings ratio of 10.27, a PEG ratio of 3.46 and a beta of 1.77. Wynn Resorts has a 1-year low of $71.63 and a 1-year high of $110.38. The business has a 50 day moving average of $91.04 and a 200 day moving average of $87.39.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. Wynn Resorts’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.99 EPS. As a group, sell-side analysts anticipate that Wynn Resorts will post 4.79 EPS for the current year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Friday, November 15th. Wynn Resorts’s payout ratio is 12.33%.

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.