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

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) have received a consensus rating of “Buy” from the fourteen ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $119.58.

Several research analysts have recently issued reports on WYNN shares. StockNews.com lowered Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Mizuho boosted their target price on Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, February 14th. Morgan Stanley cut their price target on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Macquarie restated an “outperform” rating and set a $115.00 price objective on shares of Wynn Resorts in a report on Friday, February 14th. Finally, Jefferies Financial Group upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and increased their target price for the stock from $105.00 to $118.00 in a report on Tuesday, February 18th.

Insiders Place Their Bets

In other news, Director Philip G. Satre acquired 22,200 shares of Wynn Resorts stock in a transaction dated Tuesday, February 18th. The stock was bought at an average cost of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the transaction, the director now directly owns 34,195 shares of the company’s stock, valued at approximately $3,152,095.10. This represents a 185.08 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Tilman J. Fertitta bought 11,475 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was purchased at an average cost of $84.93 per share, for a total transaction of $974,571.75. Following the transaction, the insider now owns 12,600,000 shares in the company, valued at $1,070,118,000. The trade was a 0.09 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 38,700 shares of company stock worth $3,427,943. Corporate insiders own 0.52% of the company’s stock.

Institutional Trading of Wynn Resorts

A number of institutional investors have recently made changes to their positions in WYNN. Thrivent Financial for Lutherans increased its stake in Wynn Resorts by 49.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 11,683 shares of the casino operator’s stock valued at $1,120,000 after buying an additional 3,850 shares during the last quarter. Prospera Financial Services Inc boosted its stake in shares of Wynn Resorts by 4.1% during the 3rd quarter. Prospera Financial Services Inc now owns 4,616 shares of the casino operator’s stock worth $443,000 after buying an additional 181 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Wynn Resorts in the 3rd quarter valued at about $202,000. Eagle Asset Management Inc. acquired a new stake in shares of Wynn Resorts in the third quarter valued at about $58,486,000. Finally, Cerity Partners LLC raised its holdings in Wynn Resorts by 7.0% during the third quarter. Cerity Partners LLC now owns 53,711 shares of the casino operator’s stock worth $5,150,000 after acquiring an additional 3,521 shares in the last quarter. Institutional investors own 88.64% of the company’s stock.

Wynn Resorts Trading Down 4.4 %

Shares of NASDAQ:WYNN opened at $82.33 on Friday. The stock has a market capitalization of $8.74 billion, a P/E ratio of 19.56, a P/E/G ratio of 2.35 and a beta of 1.77. Wynn Resorts has a 1-year low of $71.63 and a 1-year high of $110.38. The business has a 50-day moving average price of $85.96 and a two-hundred day moving average price of $89.12.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, beating the consensus estimate of $1.27 by $1.15. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. As a group, equities analysts predict that Wynn Resorts will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts’s payout ratio is presently 23.75%.

About Wynn Resorts

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.