Barclays Issues Positive Forecast for Wynn Resorts (NASDAQ:WYNN) Stock Price

Wynn Resorts (NASDAQ:WYNN) had its price objective lifted by Barclays from $127.00 to $141.00 in a report published on Friday,Benzinga reports. Barclays currently has an overweight rating on the casino operator’s stock.

A number of other equities analysts also recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Wynn Resorts in a report on Wednesday. Jefferies Financial Group boosted their price target on shares of Wynn Resorts from $130.00 to $133.00 and gave the stock a “buy” rating in a report on Monday, August 11th. UBS Group raised shares of Wynn Resorts from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $101.00 to $147.00 in a research report on Thursday, August 28th. Argus raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research report on Wednesday, September 3rd. Finally, The Goldman Sachs Group upped their target price on Wynn Resorts from $124.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $132.58.

Wynn Resorts Stock Performance

WYNN traded up $3.60 during midday trading on Friday, reaching $126.14. 3,200,148 shares of the company were exchanged, compared to its average volume of 2,291,193. The company has a market cap of $13.12 billion, a price-to-earnings ratio of 37.88, a price-to-earnings-growth ratio of 4.94 and a beta of 1.32. Wynn Resorts has a one year low of $65.25 and a one year high of $134.23. The company’s fifty day moving average price is $123.52 and its 200 day moving average price is $107.26.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Thursday, November 6th. The casino operator reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.23). Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the previous year, the firm earned $0.90 EPS. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Wynn Resorts will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Monday, November 17th will be paid a $0.25 dividend. The ex-dividend date is Monday, November 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.8%. Wynn Resorts’s payout ratio is presently 30.03%.

Insider Buying and Selling at Wynn Resorts

In related news, Director Patricia Mulroy sold 4,438 shares of Wynn Resorts stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total value of $554,750.00. Following the completion of the sale, the director owned 3,066 shares of the company’s stock, valued at approximately $383,250. This trade represents a 59.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Wynn Resorts

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Resolute Capital Asset Partners LLC bought a new position in shares of Wynn Resorts in the first quarter worth $3,758,000. Oak Harvest Investment Services lifted its holdings in Wynn Resorts by 20.8% during the 1st quarter. Oak Harvest Investment Services now owns 32,058 shares of the casino operator’s stock worth $2,677,000 after purchasing an additional 5,511 shares in the last quarter. Strs Ohio purchased a new stake in Wynn Resorts during the 1st quarter worth about $7,515,000. Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in Wynn Resorts by 116.0% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 14,564 shares of the casino operator’s stock worth $1,209,000 after purchasing an additional 7,820 shares during the period. Finally, Bayforest Capital Ltd purchased a new position in Wynn Resorts during the 1st quarter valued at about $365,000. 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.