Wynn Resorts, Limited (NASDAQ:WYNN – Get Free Report) has been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $120.91.
Several equities analysts have weighed in on the company. Morgan Stanley reduced their price objective on Wynn Resorts from $113.00 to $109.00 and set an “equal weight” rating for the company in a report on Friday, October 13th. Barclays increased their price target on Wynn Resorts from $135.00 to $136.00 and gave the stock an “overweight” rating in a research note on Friday, July 21st. StockNews.com assumed coverage on shares of Wynn Resorts in a report on Thursday, October 5th. They set a “hold” rating on the stock. Stifel Nicolaus reduced their target price on shares of Wynn Resorts from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, November 10th. Finally, HSBC started coverage on shares of Wynn Resorts in a research note on Monday, October 23rd. They set a “buy” rating and a $111.00 price target on the stock.
Check Out Our Latest Stock Report on WYNN
Insider Activity at Wynn Resorts
In other news, Director Patricia Mulroy sold 500 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $97.61, for a total value of $48,805.00. Following the completion of the transaction, the director now directly owns 1,482 shares in the company, valued at approximately $144,658.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.48% of the stock is owned by insiders.
Institutional Investors Weigh In On Wynn Resorts
Institutional investors have recently made changes to their positions in the business. Bartlett & Co. LLC boosted its stake in shares of Wynn Resorts by 66.7% during the second quarter. Bartlett & Co. LLC now owns 250 shares of the casino operator’s stock valued at $26,000 after purchasing an additional 100 shares during the period. James Investment Research Inc. bought a new stake in shares of Wynn Resorts during the 1st quarter valued at $29,000. Kistler Tiffany Companies LLC boosted its holdings in shares of Wynn Resorts by 66.7% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 375 shares of the casino operator’s stock valued at $40,000 after buying an additional 150 shares in the last quarter. Garda Capital Partners LP purchased a new stake in shares of Wynn Resorts in the 1st quarter worth about $43,000. Finally, Riggs Asset Managment Co. Inc. bought a new position in shares of Wynn Resorts in the 1st quarter worth about $44,000. Hedge funds and other institutional investors own 61.88% of the company’s stock.
Wynn Resorts Price Performance
NASDAQ WYNN opened at $87.12 on Wednesday. The business’s fifty day moving average is $91.43 and its 200-day moving average is $99.62. The stock has a market capitalization of $9.84 billion, a price-to-earnings ratio of 1,089.14 and a beta of 2.01. Wynn Resorts has a one year low of $72.73 and a one year high of $117.86.
Wynn Resorts (NASDAQ:WYNN – Get Free Report) last announced its quarterly earnings data on Thursday, November 9th. The casino operator reported $0.99 EPS for the quarter, topping the consensus estimate of $0.79 by $0.20. Wynn Resorts had a net margin of 0.58% and a negative return on equity of 6.80%. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the firm posted ($1.20) earnings per share. The company’s revenue for the quarter was up 87.9% on a year-over-year basis. Research analysts expect that Wynn Resorts will post 3.23 EPS for the current fiscal year.
Wynn Resorts Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Monday, November 20th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend is Friday, November 17th. Wynn Resorts’s dividend payout ratio is currently 1,250.16%.
About Wynn Resorts
(Get Free Report
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.
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