JPMorgan Chase & Co. Issues Positive Forecast for Wynn Resorts (NASDAQ:WYNN) Stock Price

Wynn Resorts (NASDAQ:WYNN) had its price objective hoisted by JPMorgan Chase & Co. from $136.00 to $138.00 in a research note published on Friday,Benzinga reports. They currently have an overweight rating on the casino operator’s stock.

A number of other analysts have also commented on WYNN. The Goldman Sachs Group boosted their price objective on shares of Wynn Resorts from $124.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Stifel Nicolaus increased their price objective on shares of Wynn Resorts from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, September 18th. Jefferies Financial Group raised their price objective on Wynn Resorts from $130.00 to $133.00 and gave the company a “buy” rating in a report on Monday, August 11th. Argus upgraded Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a report on Wednesday, September 3rd. Finally, Barclays raised their price target on Wynn Resorts from $127.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $132.58.

Wynn Resorts Stock Performance

NASDAQ WYNN traded up $3.60 on Friday, reaching $126.14. The company had a trading volume of 3,200,148 shares, compared to its average volume of 2,291,193. The company’s fifty day moving average is $123.52 and its 200-day moving average is $107.26. The firm has a market capitalization of $13.12 billion, a price-to-earnings ratio of 37.88, a price-to-earnings-growth ratio of 4.94 and a beta of 1.32. Wynn Resorts has a 1-year low of $65.25 and a 1-year high of $134.23.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Thursday, November 6th. The casino operator reported $0.86 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.23). The firm had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.76 billion. Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%.The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.90 earnings per share. On average, research analysts forecast that Wynn Resorts will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Monday, November 17th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Monday, November 17th. Wynn Resorts’s dividend payout ratio is 30.03%.

Insider Buying and Selling

In other Wynn Resorts news, Director Patricia Mulroy sold 4,438 shares of Wynn Resorts stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total transaction of $554,750.00. Following the completion of the transaction, the director directly owned 3,066 shares of the company’s stock, 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 SEC, which is available through this hyperlink. 0.52% of the stock is currently owned by company insiders.

Institutional Trading of Wynn Resorts

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Dagco Inc. bought a new position in Wynn Resorts in the 1st quarter valued at about $25,000. AlphaQuest LLC acquired a new position in shares of Wynn Resorts in the first quarter valued at approximately $25,000. MUFG Securities EMEA plc bought a new position in shares of Wynn Resorts during the second quarter worth approximately $25,000. Root Financial Partners LLC acquired a new stake in Wynn Resorts during the 3rd quarter worth approximately $26,000. Finally, Manchester Capital Management LLC boosted its stake in Wynn Resorts by 1,500.0% in the 2nd quarter. Manchester Capital Management LLC now owns 320 shares of the casino operator’s stock valued at $30,000 after purchasing an additional 300 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.