Wynn Resorts (NASDAQ:WYNN) Price Target Cut to $103.00 by Analysts at Morgan Stanley

Wynn Resorts (NASDAQ:WYNN) had its price target decreased by Morgan Stanley from $105.00 to $103.00 in a research note released on Monday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the casino operator’s stock.

A number of other equities research analysts also recently weighed in on the company. StockNews.com raised Wynn Resorts from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. 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 report on Tuesday, November 5th. Macquarie reissued an “outperform” rating and set a $115.00 price objective on shares of Wynn Resorts in a report on Friday, February 14th. Wells Fargo & Company lowered their price objective on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Finally, Stifel Nicolaus increased their price objective on Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a report on Friday, February 14th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $119.58.

Wynn Resorts Price Performance

WYNN opened at $90.15 on Monday. Wynn Resorts has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The business has a 50-day moving average of $85.32 and a 200-day moving average of $87.52. The company has a market capitalization of $9.59 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 2.35 and a beta of 1.76.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. On average, equities research analysts expect that Wynn Resorts will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Monday, February 24th. Wynn Resorts’s dividend payout ratio (DPR) is currently 23.75%.

Insider Buying and Selling at Wynn Resorts

In other news, Director Philip G. Satre acquired 22,200 shares of Wynn Resorts stock in a transaction on Tuesday, February 18th. The stock was bought at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the transaction, the director now owns 34,195 shares of the company’s stock, valued at $3,152,095.10. The trade was a 185.08 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.52% of the company’s stock.

Institutional Trading of Wynn Resorts

A number of hedge funds have recently modified their holdings of WYNN. New Wave Wealth Advisors LLC bought a new stake in shares of Wynn Resorts in the 4th quarter worth approximately $26,000. Wilmington Savings Fund Society FSB bought a new position in shares of Wynn Resorts during the 3rd quarter worth approximately $31,000. SBI Securities Co. Ltd. bought a new position in shares of Wynn Resorts during the 4th quarter worth approximately $36,000. Spire Wealth Management lifted its position 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 position in shares of Wynn Resorts during the 4th quarter worth approximately $45,000. Institutional investors own 88.64% of the company’s stock.

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.