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

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) have received a consensus recommendation of “Moderate Buy” from the sixteen analysts that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $116.73.

WYNN has been the topic of several recent research reports. Morgan Stanley cut their price target on Wynn Resorts from $115.00 to $107.00 and set an “equal weight” rating on the stock in a report on Friday, July 12th. Deutsche Bank Aktiengesellschaft cut their target price on Wynn Resorts from $131.00 to $122.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Seaport Res Ptn raised Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 30th. Wells Fargo & Company cut their target price on Wynn Resorts from $126.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Finally, Jefferies Financial Group cut their target price on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th.

Insider Buying and Selling

In related news, Director Betsy S. Atkins sold 2,446 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $94.39, for a total value of $230,877.94. Following the completion of the transaction, the director now owns 9,226 shares of the company’s stock, valued at approximately $870,842.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.52% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Wynn Resorts

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in Wynn Resorts in the 2nd quarter worth approximately $25,000. ICA Group Wealth Management LLC purchased a new stake in Wynn Resorts in the 4th quarter worth approximately $27,000. Register Financial Advisors LLC purchased a new stake in Wynn Resorts in the 1st quarter worth approximately $37,000. GAMMA Investing LLC purchased a new stake in Wynn Resorts in the 4th quarter worth approximately $38,000. Finally, Federated Hermes Inc. lifted its position in Wynn Resorts by 47.5% in the 4th quarter. Federated Hermes Inc. now owns 435 shares of the casino operator’s stock worth $40,000 after buying an additional 140 shares in the last quarter. Institutional investors and hedge funds own 68.87% of the company’s stock.

Wynn Resorts Trading Up 0.4 %

Shares of NASDAQ WYNN opened at $74.20 on Friday. The company has a market cap of $8.32 billion, a price-to-earnings ratio of 10.16, a price-to-earnings-growth ratio of 1.71 and a beta of 1.82. Wynn Resorts has a 12-month low of $71.63 and a 12-month high of $110.38. The stock’s 50 day simple moving average is $84.88 and its 200 day simple moving average is $94.46.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.02). The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the business posted $0.91 EPS. As a group, equities analysts forecast that Wynn Resorts will post 5.43 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Monday, August 19th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Monday, August 19th. Wynn Resorts’s dividend payout ratio is presently 13.70%.

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.