Wynn Resorts (NASDAQ:WYNN) Sees Strong Trading Volume After Earnings Beat

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) saw unusually-high trading volume on Friday following a stronger than expected earnings report. Approximately 3,423,229 shares were traded during trading, an increase of 30% from the previous session’s volume of 2,636,404 shares.The stock last traded at $87.30 and had previously closed at $80.47.

The casino operator reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%.

Wynn Resorts Dividend Announcement

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 issued a $0.25 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.13%. Wynn Resorts’s dividend payout ratio is presently 23.75%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on WYNN shares. Mizuho upped their price target on Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday. Morgan Stanley upped their price target on Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Stifel Nicolaus upped their price target on Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a report on Friday. 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 report on Tuesday, November 5th. Finally, Barclays upped their price target on Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a report on Friday. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $119.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in WYNN. Jericho Capital Asset Management L.P. acquired a new stake in shares of Wynn Resorts in the 4th quarter valued at about $101,375,000. Black Diamond Capital Management L.L.C. boosted its position in shares of Wynn Resorts by 10.3% in the 4th quarter. Black Diamond Capital Management L.L.C. now owns 107,012 shares of the casino operator’s stock valued at $9,220,000 after purchasing an additional 10,000 shares during the period. Schonfeld Strategic Advisors LLC boosted its position in shares of Wynn Resorts by 370.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 39,959 shares of the casino operator’s stock valued at $3,443,000 after purchasing an additional 31,466 shares during the period. Candlestick Capital Management LP acquired a new stake in shares of Wynn Resorts in the 4th quarter valued at about $32,834,000. Finally, Northern Trust Corp boosted its position in shares of Wynn Resorts by 6.5% in the 4th quarter. Northern Trust Corp now owns 821,684 shares of the casino operator’s stock valued at $70,796,000 after purchasing an additional 50,428 shares during the period. 88.64% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Stock Performance

The stock has a market capitalization of $9.75 billion, a price-to-earnings ratio of 10.95, a PEG ratio of 2.32 and a beta of 1.76. The business has a 50-day moving average of $85.66 and a 200-day moving average of $86.83.

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.