Wynn Resorts, Limited (NASDAQ:WYNN) Given Average Rating of “Buy” by Brokerages

Wynn Resorts, Limited (NASDAQ:WYNN) has been given a consensus rating of “Buy” by the fourteen ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $119.58.

WYNN has been the subject of several analyst reports. Wells Fargo & Company decreased their target price 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. Barclays boosted their target price on Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Jefferies Financial Group upgraded Wynn Resorts from a “hold” rating to a “buy” rating and boosted their target price for the company from $105.00 to $118.00 in a research note on Tuesday, February 18th. StockNews.com upgraded Wynn Resorts from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft cut their target price 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.

Wynn Resorts Stock Down 0.7 %

Shares of WYNN stock opened at $90.15 on Tuesday. The stock has a 50-day moving average price of $85.32 and a 200 day moving average price of $87.52. The firm has a market cap of $9.59 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 2.35 and a beta of 1.76. Wynn Resorts has a 12 month low of $71.63 and a 12 month high of $110.38.

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

Wynn Resorts Announces Dividend

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 issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.11%. The ex-dividend date is Monday, February 24th. Wynn Resorts’s dividend payout ratio is 23.75%.

Insiders Place Their Bets

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

Institutional Trading of Wynn Resorts

Hedge funds and other institutional investors have recently modified their holdings of the stock. New Wave Wealth Advisors LLC bought a new stake in shares of Wynn Resorts during the 4th quarter worth about $26,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Wynn Resorts during the 3rd quarter worth about $31,000. SBI Securities Co. Ltd. bought a new stake in shares of Wynn Resorts during the 4th quarter worth about $36,000. Spire Wealth Management boosted its holdings in shares of Wynn Resorts by 116.4% during the 4th quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock worth $37,000 after buying an additional 234 shares during the period. Finally, Canada Post Corp Registered Pension Plan bought a new stake in shares of Wynn Resorts during the 4th quarter worth about $45,000. Institutional investors own 88.64% 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.