Brokerages Set Wynn Resorts, Limited (NASDAQ:WYNN) PT at $140.00

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) have been given a consensus rating of “Moderate Buy” by the eighteen brokerages that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $140.00.

A number of equities research analysts have recently weighed in on the stock. Bank of America cut their target price on shares of Wynn Resorts from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Jefferies Financial Group cut their target price on shares of Wynn Resorts from $161.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Mizuho cut their target price on shares of Wynn Resorts from $134.00 to $133.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 12th. Wells Fargo & Company set a $142.00 target price on shares of Wynn Resorts and gave the company an “overweight” rating in a research note on Sunday, May 10th. Finally, UBS Group reaffirmed a “buy” rating on shares of Wynn Resorts in a research note on Monday, February 23rd.

Institutional Investors Weigh In On Wynn Resorts

Large investors have recently modified their holdings of the stock. Hantz Financial Services Inc. boosted its stake in Wynn Resorts by 54.9% during the fourth quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock worth $30,000 after acquiring an additional 89 shares in the last quarter. Horizon Investments LLC boosted its stake in Wynn Resorts by 6.7% during the fourth quarter. Horizon Investments LLC now owns 1,500 shares of the casino operator’s stock worth $180,000 after acquiring an additional 94 shares in the last quarter. QRG Capital Management Inc. boosted its stake in Wynn Resorts by 4.9% during the first quarter. QRG Capital Management Inc. now owns 2,071 shares of the casino operator’s stock worth $210,000 after acquiring an additional 96 shares in the last quarter. Westside Investment Management Inc. boosted its stake in Wynn Resorts by 40.2% during the third quarter. Westside Investment Management Inc. now owns 338 shares of the casino operator’s stock worth $44,000 after acquiring an additional 97 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in Wynn Resorts by 21.6% during the third quarter. Parallel Advisors LLC now owns 563 shares of the casino operator’s stock worth $72,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 88.64% of the company’s stock.

Wynn Resorts Stock Down 1.3%

Shares of Wynn Resorts stock opened at $97.24 on Thursday. The firm has a market cap of $10.09 billion, a PE ratio of 29.03, a price-to-earnings-growth ratio of 0.88 and a beta of 1.01. Wynn Resorts has a 12-month low of $82.63 and a 12-month high of $134.72. The company’s fifty day simple moving average is $102.24 and its two-hundred day simple moving average is $112.54.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.82 billion. Wynn Resorts had a net margin of 5.14% and a negative return on equity of 42.03%. The company’s revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.07 EPS. As a group, sell-side analysts expect that Wynn Resorts will post 4.72 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Monday, May 18th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, May 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. Wynn Resorts’s payout ratio is presently 29.85%.

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.