Wynn Resorts (NASDAQ:WYNN) Upgraded by Jefferies Financial Group to Buy Rating

Jefferies Financial Group upgraded shares of Wynn Resorts (NASDAQ:WYNN) from a hold rating to a buy rating in a research report report published on Tuesday morning, Marketbeat Ratings reports. They currently have $118.00 target price on the casino operator’s stock, up from their previous target price of $105.00.

A number of other analysts have also commented on the company. Morgan Stanley lifted their price target on Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their price target on Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Stifel Nicolaus lifted their price target on Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Deutsche Bank Aktiengesellschaft cut their price target on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Finally, Barclays lifted their price target on Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $120.58.

Wynn Resorts Stock Up 2.7 %

Wynn Resorts stock opened at $91.21 on Tuesday. Wynn Resorts has a 12-month low of $71.63 and a 12-month high of $110.38. The business’s 50-day moving average price is $85.45 and its two-hundred day moving average price is $87.06. The stock has a market cap of $10.02 billion, a PE ratio of 11.25, a P/E/G ratio of 2.32 and a beta of 1.76.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, beating 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%. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.78 billion. As a group, analysts expect that Wynn Resorts will post 4.69 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.10%. The ex-dividend date is Monday, February 24th. Wynn Resorts’s dividend payout ratio (DPR) is presently 12.33%.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Philip G. Satre purchased 22,200 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were purchased at an average cost of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the purchase, the director now owns 34,195 shares in the company, valued at $3,152,095.10. This represents a 185.08 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Wynn Resorts

Several institutional investors have recently added to or reduced their stakes in the business. New Wave Wealth Advisors LLC bought a new stake in shares of Wynn Resorts during the fourth quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Wynn Resorts during the third quarter valued at approximately $31,000. SBI Securities Co. Ltd. bought a new stake in shares of Wynn Resorts during the fourth quarter valued at approximately $36,000. Spire Wealth Management increased its holdings in shares of Wynn Resorts by 116.4% during the fourth quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock valued at $37,000 after acquiring an additional 234 shares in the last quarter. Finally, Canada Post Corp Registered Pension Plan bought a new stake in shares of Wynn Resorts during the fourth quarter valued at approximately $45,000. 88.64% of the stock is owned by institutional investors and hedge funds.

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.