Wynn Resorts, Limited (NASDAQ:WYNN) Receives $134.19 Consensus Target Price from Brokerages

Wynn Resorts, Limited (NASDAQ:WYNN) has earned a consensus rating of “Moderate Buy” from the twenty brokerages that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $133.8235.

WYNN has been the topic of a number of research reports. Stifel Nicolaus set a $143.00 price target on Wynn Resorts in a research note on Wednesday, August 5th. Argus raised their price objective on Wynn Resorts from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Bank of America decreased their price objective on Wynn Resorts from $150.00 to $140.00 and set a “buy” rating for the company in a report on Monday, May 11th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $137.00 target price on shares of Wynn Resorts in a report on Friday, May 8th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Wynn Resorts from $135.00 to $134.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th.

Wynn Resorts Stock Up 1.0%

Wynn Resorts stock opened at $91.52 on Friday. The company has a market capitalization of $9.42 billion, a PE ratio of 22.71, a PEG ratio of 1.09 and a beta of 1.00. Wynn Resorts has a 12-month low of $89.44 and a 12-month high of $134.72. The firm’s fifty day moving average is $98.24 and its 200 day moving average is $101.86.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Tuesday, August 4th. The casino operator reported $1.24 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.25. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.83 billion. Wynn Resorts had a net margin of 6.05% and a negative return on equity of 46.52%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.09 earnings per share. Sell-side analysts expect that Wynn Resorts will post 4.55 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, August 14th. Wynn Resorts’s dividend payout ratio (DPR) is currently 24.81%.

Hedge Funds Weigh In On Wynn Resorts

Several large investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System boosted its position in shares of Wynn Resorts by 9,349.7% during the second quarter. California State Teachers Retirement System now owns 9,093,255 shares of the casino operator’s stock valued at $882,864,000 after buying an additional 8,997,027 shares during the last quarter. BlackRock Inc. bought a new position in Wynn Resorts during the 2nd quarter valued at $609,566,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Wynn Resorts during the 2nd quarter worth $321,402,000. Egerton Capital UK LLP purchased a new position in Wynn Resorts during the 4th quarter worth $249,053,000. Finally, Palidye Holdings Caymans Ltd bought a new stake in shares of Wynn Resorts in the 2nd quarter worth $104,629,000. Institutional investors own 88.64% of the company’s stock.

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.