Wynn Resorts, Limited (NASDAQ:WYNN) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) have been assigned an average recommendation of “Moderate Buy” from the eighteen analysts that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, fifteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $140.00.

A number of research firms recently weighed in on WYNN. JPMorgan Chase & Co. lowered their price target on shares of Wynn Resorts from $140.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Bank of America reduced their target price on shares of Wynn Resorts from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Citigroup reduced their target price on shares of Wynn Resorts from $145.00 to $132.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Mizuho reduced their target price on shares of Wynn Resorts from $134.00 to $133.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 12th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $137.00 target price on shares of Wynn Resorts in a research note on Friday, May 8th.

Wynn Resorts Stock Performance

WYNN opened at $105.53 on Monday. The firm has a market capitalization of $10.95 billion, a PE ratio of 31.50, a PEG ratio of 0.98 and a beta of 0.98. Wynn Resorts has a twelve month low of $87.11 and a twelve month high of $134.72. The firm’s 50-day moving average price is $103.35 and its 200 day moving average price is $109.76.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.82 billion. Wynn Resorts had a net margin of 5.14% and a negative return on equity of 42.03%. Wynn Resorts’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.07 earnings per share. As a group, analysts predict that Wynn Resorts will post 4.61 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. Wynn Resorts’s payout ratio is 29.85%.

Institutional Investors Weigh In On Wynn Resorts

Institutional investors and hedge funds have recently made changes to their positions in the stock. Hantz Financial Services Inc. raised its stake in shares of Wynn Resorts by 54.9% in the 4th quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock valued at $30,000 after acquiring an additional 89 shares during the period. Cromwell Holdings LLC raised its stake in shares of Wynn Resorts by 68.2% in the 4th quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock valued at $31,000 after acquiring an additional 103 shares during the period. MUFG Securities EMEA plc purchased a new stake in shares of Wynn Resorts in the 2nd quarter valued at approximately $25,000. SHP Wealth Management purchased a new stake in shares of Wynn Resorts in the 4th quarter valued at approximately $32,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Wynn Resorts in the 4th quarter valued at approximately $34,000. 88.64% of the stock is owned by hedge funds and other 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.