Wynn Resorts (NASDAQ:WYNN) Now Covered by The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of Wynn Resorts (NASDAQ:WYNN) in a research report report published on Monday, Marketbeat.com reports. The firm issued a buy rating and a $122.00 price target on the casino operator’s stock.

A number of other research firms also recently weighed in on WYNN. Argus downgraded Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, April 23rd. Mizuho reduced their target price on Wynn Resorts from $132.00 to $122.00 and set an “outperform” rating on the stock in a research note on Thursday, May 8th. JPMorgan Chase & Co. started coverage on Wynn Resorts in a research note on Monday, June 23rd. They set an “overweight” rating and a $109.00 target price on the stock. Barclays lowered their price objective on Wynn Resorts from $116.00 to $99.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Finally, Wall Street Zen cut Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $112.71.

Wynn Resorts Price Performance

NASDAQ:WYNN opened at $110.08 on Monday. The business has a 50 day moving average of $91.73 and a 200 day moving average of $86.04. The company has a market capitalization of $11.51 billion, a price-to-earnings ratio of 30.58, a PEG ratio of 3.19 and a beta of 1.37. Wynn Resorts has a 1-year low of $65.25 and a 1-year high of $111.57.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Tuesday, May 6th. The casino operator reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.17). The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a negative return on equity of 62.13% and a net margin of 6.17%. The business’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.59 EPS. As a group, sell-side analysts anticipate that Wynn Resorts will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend was Friday, May 16th. Wynn Resorts’s payout ratio is currently 27.78%.

Insider Activity at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,262 shares of Wynn Resorts stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $92.12, for a total value of $208,375.44. Following the completion of the sale, the director owned 3,066 shares of the company’s stock, valued at $282,439.92. The trade was a 42.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.52% of the stock is owned by insiders.

Institutional Trading of Wynn Resorts

Several large investors have recently modified their holdings of WYNN. Dagco Inc. bought a new stake in shares of Wynn Resorts in the first quarter worth $25,000. AlphaQuest LLC bought a new stake in shares of Wynn Resorts in the first quarter worth $25,000. Global X Japan Co. Ltd. grew its holdings in shares of Wynn Resorts by 120.7% in the first quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator’s stock worth $27,000 after acquiring an additional 175 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of Wynn Resorts by 69.0% in the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after acquiring an additional 156 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Wynn Resorts by 3,408.3% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 421 shares of the casino operator’s stock worth $35,000 after acquiring an additional 409 shares during the period. 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.