Wynn Resorts, Limited (NASDAQ:WYNN) Given Consensus Rating of “Moderate Buy” by Brokerages

Wynn Resorts, Limited (NASDAQ:WYNN) has received a consensus rating of “Moderate Buy” from the sixteen ratings firms that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $140.1538.

WYNN has been the subject of several research reports. Texas Capital upgraded shares of Wynn Resorts to a “strong-buy” rating in a research report on Thursday, January 8th. Morgan Stanley raised their price target on shares of Wynn Resorts from $132.00 to $139.00 and gave the company an “overweight” rating in a report on Friday, January 16th. Zacks Research cut shares of Wynn Resorts from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th. JPMorgan Chase & Co. increased their price objective on Wynn Resorts from $138.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, December 8th. Finally, Jefferies Financial Group boosted their target price on Wynn Resorts from $146.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, December 8th.

Institutional Investors Weigh In On Wynn Resorts

A number of institutional investors and hedge funds have recently modified their holdings of WYNN. Root Financial Partners LLC acquired a new position in Wynn Resorts in the third quarter valued at approximately $26,000. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Wynn Resorts during the 3rd quarter valued at $31,000. Atlantic Edge Private Wealth Management LLC lifted its stake in shares of Wynn Resorts by 400.0% in the 3rd quarter. Atlantic Edge Private Wealth Management LLC now owns 250 shares of the casino operator’s stock valued at $32,000 after purchasing an additional 200 shares during the period. Cromwell Holdings LLC boosted its position 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 worth $31,000 after purchasing an additional 103 shares during the last quarter. Finally, MUFG Securities EMEA plc acquired a new stake in shares of Wynn Resorts during the second quarter worth $25,000. 88.64% of the stock is owned by institutional investors.

Wynn Resorts Stock Performance

Shares of WYNN opened at $115.06 on Friday. The company has a market cap of $11.96 billion, a price-to-earnings ratio of 25.74, a PEG ratio of 14.62 and a beta of 1.08. The stock has a fifty day moving average price of $122.31 and a two-hundred day moving average price of $119.74. Wynn Resorts has a 52-week low of $65.25 and a 52-week high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Thursday, November 6th. The casino operator reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.23). Wynn Resorts had a net margin of 7.09% and a negative return on equity of 54.88%. The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the business posted $0.90 earnings per share. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, research analysts predict that Wynn Resorts will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Monday, November 17th were given a dividend of $0.25 per share. The ex-dividend date was Monday, November 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. Wynn Resorts’s dividend payout ratio is presently 22.37%.

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.