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

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) have earned a consensus rating of “Moderate Buy” from the seventeen research firms that are covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $139.00.

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Wynn Resorts from $138.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, December 8th. The Goldman Sachs Group reissued a “buy” rating and issued a $148.00 price objective on shares of Wynn Resorts in a research report on Monday, December 15th. Macquarie Infrastructure restated an “outperform” rating and set a $143.00 price objective on shares of Wynn Resorts in a research note on Monday, December 8th. Jefferies Financial Group raised their target price on shares of Wynn Resorts from $146.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Finally, Morgan Stanley boosted their target price on Wynn Resorts from $132.00 to $139.00 and gave the stock an “overweight” rating in a report on Friday, January 16th.

Wynn Resorts Price Performance

Wynn Resorts stock opened at $113.39 on Tuesday. The company has a market cap of $11.79 billion, a price-to-earnings ratio of 37.80, a P/E/G ratio of 9.79 and a beta of 1.06. The firm has a 50-day moving average of $118.12 and a 200-day moving average of $120.30. Wynn Resorts has a one year low of $65.25 and a one year high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Thursday, February 12th. The casino operator reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.16). The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.85 billion. Wynn Resorts had a negative return on equity of 38.04% and a net margin of 4.59%.The business’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.42 EPS. As a group, sell-side analysts expect that Wynn Resorts will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Monday, February 23rd. Wynn Resorts’s payout ratio is currently 33.33%.

Institutional Trading of Wynn Resorts

Several hedge funds and other institutional investors have recently modified their holdings of WYNN. Capital World Investors raised its holdings in Wynn Resorts by 0.6% in the 4th quarter. Capital World Investors now owns 9,542,392 shares of the casino operator’s stock valued at $1,148,236,000 after acquiring an additional 61,209 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Wynn Resorts by 9.5% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,680,631 shares of the casino operator’s stock worth $442,890,000 after purchasing an additional 320,502 shares during the period. Egerton Capital UK LLP acquired a new stake in Wynn Resorts during the 4th quarter worth approximately $249,053,000. Bamco Inc. NY lifted its holdings in Wynn Resorts by 56.5% during the 2nd quarter. Bamco Inc. NY now owns 1,337,236 shares of the casino operator’s stock worth $125,259,000 after purchasing an additional 482,570 shares during the last quarter. Finally, Norges Bank bought a new stake in Wynn Resorts in the 2nd quarter valued at $106,289,000. Institutional investors own 88.64% of the company’s stock.

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.