Wynn Resorts, Limited (NASDAQ:WYNN) Receives $138.87 Average Price Target from Analysts

Wynn Resorts, Limited (NASDAQ:WYNN) has been assigned a consensus recommendation of “Moderate Buy” from the seventeen research firms that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong 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 $138.8667.

WYNN has been the topic of several recent research reports. Jefferies Financial Group lifted their target price on Wynn Resorts from $146.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, December 8th. Stifel Nicolaus reduced their target price on shares of Wynn Resorts from $160.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Wells Fargo & Company reduced their price objective on shares of Wynn Resorts from $152.00 to $147.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. Macquarie Infrastructure reaffirmed an “outperform” rating and set a $143.00 price target on shares of Wynn Resorts in a research note on Monday, December 8th. Finally, Mizuho raised their price target on Wynn Resorts from $131.00 to $134.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th.

Wynn Resorts Stock Performance

NASDAQ:WYNN opened at $102.03 on Wednesday. Wynn Resorts has a 1-year low of $65.25 and a 1-year high of $134.72. The stock has a market capitalization of $10.62 billion, a PE ratio of 34.01, a P/E/G ratio of 8.67 and a beta of 1.04. The firm has a fifty day simple moving average of $106.87 and a 200 day simple moving average of $117.26.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Thursday, February 12th. The casino operator reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.16). Wynn Resorts had a negative return on equity of 39.05% and a net margin of 4.59%.The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter last year, the business posted $2.42 EPS. Wynn Resorts’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, equities analysts predict that Wynn Resorts will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, February 23rd were paid a $0.25 dividend. The ex-dividend date was Monday, February 23rd. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. Wynn Resorts’s payout ratio is presently 33.33%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Capital World Investors raised its holdings in shares of Wynn Resorts by 0.6% during the 4th quarter. Capital World Investors now owns 9,542,392 shares of the casino operator’s stock worth $1,148,236,000 after acquiring an additional 61,209 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Wynn Resorts by 9.5% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,680,631 shares of the casino operator’s stock valued at $442,890,000 after purchasing an additional 320,502 shares during the last quarter. Egerton Capital UK LLP acquired a new stake in Wynn Resorts during the fourth quarter valued at $249,053,000. Invesco Ltd. lifted its position in shares of Wynn Resorts by 14.2% during the 4th quarter. Invesco Ltd. now owns 2,011,462 shares of the casino operator’s stock valued at $242,039,000 after buying an additional 249,704 shares in the last quarter. Finally, Bamco Inc. NY boosted its stake in Wynn Resorts by 56.5% during the 2nd quarter. Bamco Inc. NY now owns 1,337,236 shares of the casino operator’s stock worth $125,259,000 after purchasing an additional 482,570 shares during the last quarter. 88.64% of the stock is owned by hedge funds and other institutional investors.

Wynn Resorts Company Profile

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.