Wynn Resorts, Limited (NASDAQ:WYNN) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Wynn Resorts, Limited (NASDAQ:WYNN) has been given a consensus recommendation of “Moderate Buy” by the twenty research firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, seventeen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $133.35.

A number of equities research analysts recently issued reports on WYNN shares. Barclays upped their price target on shares of Wynn Resorts from $134.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Morgan Stanley restated an “overweight” rating and issued a $128.00 target price on shares of Wynn Resorts in a report on Wednesday, July 22nd. Wolfe Research assumed coverage on shares of Wynn Resorts in a research report on Wednesday, September 2nd. They set an “outperform” rating and a $128.00 target price on the stock. Wells Fargo & Company lowered their price target on shares of Wynn Resorts from $141.00 to $131.00 and set an “overweight” rating for the company in a report on Wednesday, August 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Wynn Resorts in a research report on Monday, September 21st.

Wynn Resorts Price Performance

NASDAQ WYNN opened at $81.12 on Wednesday. The stock has a market capitalization of $8.35 billion, a PE ratio of 20.13, a P/E/G ratio of 0.98 and a beta of 1.00. The business has a 50 day simple moving average of $94.38 and a two-hundred day simple moving average of $99.17. Wynn Resorts has a 1-year low of $77.06 and a 1-year high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Tuesday, August 4th. The casino operator reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.25. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%.The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same period in the prior year, the firm earned $1.09 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, analysts anticipate that Wynn Resorts will post 4.55 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were issued a $0.25 dividend. The ex-dividend date was Friday, August 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. Wynn Resorts’s payout ratio is 24.81%.

Institutional Trading of Wynn Resorts

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in Wynn Resorts in the second quarter worth about $609,566,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Wynn Resorts during the second quarter valued at approximately $321,402,000. Egerton Capital UK LLP purchased a new stake in shares of Wynn Resorts in the fourth quarter worth approximately $249,053,000. Alyeska Investment Group L.P. purchased a new stake in shares of Wynn Resorts in the second quarter worth approximately $99,277,000. Finally, Norges Bank bought a new stake in shares of Wynn Resorts during the 4th quarter worth approximately $122,696,000. Hedge funds and other institutional investors own 88.64% of the company’s stock.

About Wynn Resorts

Wynn Resorts, Ltd. is a global luxury hospitality and entertainment company that develops and operates integrated resorts. Its properties combine casino gaming with hotel accommodations, fine dining, retail shopping, nightlife, entertainment, spas and meeting facilities.

The company operates Wynn Las Vegas and Encore Las Vegas in Nevada, Encore Boston Harbor in Massachusetts, and Wynn Macau and Encore Macau in Macau. These properties serve leisure and business travelers, gaming customers and convention guests across the United States and Asia.

Founded in 2002 by casino executive Steve Wynn, Wynn Resorts has expanded its portfolio through destination resorts focused on premium service and design.