Brokerages Set Wynn Resorts, Limited (NASDAQ:WYNN) Target Price at $127.33

Wynn Resorts, Limited (NASDAQ:WYNN) has received an average rating of “Moderate Buy” from the fifteen analysts that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $127.7143.

WYNN has been the topic of a number of research reports. Argus raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a research report on Wednesday, September 3rd. Morgan Stanley boosted their price objective on shares of Wynn Resorts from $113.00 to $128.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. Jefferies Financial Group upped their price target on shares of Wynn Resorts from $130.00 to $133.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. Mizuho upped their price target on shares of Wynn Resorts from $122.00 to $126.00 and gave the stock an “outperform” rating in a research report on Monday, August 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Wynn Resorts in a research report on Saturday, September 27th.

Insider Activity at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 4,438 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total value of $554,750.00. Following the transaction, the director directly owned 3,066 shares in the company, valued at $383,250. The trade was a 59.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.52% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Wynn Resorts

Several institutional investors and hedge funds have recently modified their holdings of WYNN. GAMMA Investing LLC grew its stake in shares of Wynn Resorts by 10.6% in the first quarter. GAMMA Investing LLC now owns 3,191 shares of the casino operator’s stock valued at $266,000 after acquiring an additional 306 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Wynn Resorts by 38.7% in the first quarter. SG Americas Securities LLC now owns 27,370 shares of the casino operator’s stock valued at $2,285,000 after acquiring an additional 7,640 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Wynn Resorts by 758.8% in the first quarter. Assenagon Asset Management S.A. now owns 386,721 shares of the casino operator’s stock valued at $32,291,000 after acquiring an additional 341,688 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Wynn Resorts by 7.2% in the first quarter. Fifth Third Bancorp now owns 2,341 shares of the casino operator’s stock valued at $195,000 after acquiring an additional 158 shares in the last quarter. Finally, Legacy Trust grew its stake in shares of Wynn Resorts by 1.9% in the first quarter. Legacy Trust now owns 41,219 shares of the casino operator’s stock valued at $3,442,000 after acquiring an additional 755 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Wynn Resorts Stock Down 3.0%

Shares of WYNN stock opened at $119.89 on Wednesday. The company’s fifty day simple moving average is $120.33 and its 200-day simple moving average is $100.99. The firm has a market cap of $12.47 billion, a PE ratio of 36.00, a P/E/G ratio of 6.00 and a beta of 1.31. Wynn Resorts has a 12 month low of $65.25 and a 12 month high of $134.23.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, August 7th. The casino operator reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.11). The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%.The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.12 EPS. On average, equities analysts predict that Wynn Resorts will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Monday, August 18th. Wynn Resorts’s payout ratio is currently 30.03%.

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.