Wynn Resorts, Limited (NASDAQ:WYNN) Given Average Recommendation of “Moderate Buy” by Analysts

Wynn Resorts, Limited (NASDAQ:WYNN) has received an average rating of “Moderate Buy” from the eighteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $140.00.

WYNN has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $137.00 price objective on shares of Wynn Resorts in a research note on Friday, May 8th. Citigroup cut their price objective on Wynn Resorts from $145.00 to $132.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Susquehanna cut their price objective on Wynn Resorts from $133.00 to $127.00 and set a “positive” rating on the stock in a research note on Thursday, April 16th. JPMorgan Chase & Co. cut their price objective on Wynn Resorts from $140.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Finally, Wells Fargo & Company set a $142.00 target price on Wynn Resorts and gave the stock an “overweight” rating in a report on Sunday, May 10th.

Wynn Resorts Price Performance

Wynn Resorts stock opened at $101.22 on Thursday. The stock’s 50 day moving average is $102.17 and its 200 day moving average is $111.94. The firm has a market cap of $10.51 billion, a P/E ratio of 30.22, a P/E/G ratio of 0.89 and a beta of 1.01. Wynn Resorts has a one year low of $82.63 and a one year high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Thursday, May 7th. The casino operator reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.82 billion. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The firm’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.07 earnings per share. Equities analysts anticipate that Wynn Resorts will post 4.72 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 Friday, May 29th. Shareholders of record on Monday, May 18th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Monday, May 18th. Wynn Resorts’s payout ratio is presently 29.85%.

Institutional Investors Weigh In On Wynn Resorts

Hedge funds have recently added to or reduced their stakes in the business. MUFG Securities EMEA plc bought a new stake in Wynn Resorts in the second quarter worth approximately $25,000. Root Financial Partners LLC bought a new stake in Wynn Resorts in the third quarter worth approximately $26,000. Hantz Financial Services Inc. increased its holdings in Wynn Resorts by 54.9% in the fourth quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock worth $30,000 after purchasing an additional 89 shares in the last quarter. Cromwell Holdings LLC increased its holdings in Wynn Resorts by 68.2% in the fourth quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock worth $31,000 after purchasing an additional 103 shares in the last quarter. Finally, SHP Wealth Management bought a new stake in Wynn Resorts in the fourth quarter worth approximately $32,000. 88.64% of the stock is currently owned by institutional investors.

About Wynn Resorts

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.