Vetr upgraded shares of Wynn Resorts, Limited (NASDAQ:WYNN) from a buy rating to a strong-buy rating in a research report released on Thursday. Vetr currently has $146.26 price objective on the casino operator’s stock.

Several other analysts have also recently commented on the company. Stifel Nicolaus reiterated a hold rating and issued a $134.00 target price (up from $128.00) on shares of Wynn Resorts, Limited in a report on Wednesday, July 26th. UBS AG cut Wynn Resorts, Limited from a buy rating to a hold rating in a report on Wednesday, July 26th. Union Gaming Research reiterated a hold rating on shares of Wynn Resorts, Limited in a report on Wednesday, July 26th. Telsey Advisory Group cut Wynn Resorts, Limited from an outperform rating to a market perform rating and set a $150.00 target price on the stock. in a report on Wednesday, July 26th. Finally, Bank of America Corporation restated a neutral rating and set a $140.00 price target (up from $135.00) on shares of Wynn Resorts, Limited in a report on Friday, July 21st. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $125.62.

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) opened at 128.60 on Thursday. The firm has a market capitalization of $13.11 billion, a P/E ratio of 48.13 and a beta of 1.73. The firm’s 50-day moving average is $133.87 and its 200 day moving average is $116.42. Wynn Resorts, Limited has a one year low of $82.51 and a one year high of $139.67.

Wynn Resorts, Limited (NASDAQ:WYNN) last announced its earnings results on Tuesday, July 25th. The casino operator reported $1.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.02. Wynn Resorts, Limited had a return on equity of 205.76% and a net margin of 5.02%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same period in the prior year, the business posted $1.07 earnings per share. The firm’s revenue was up 44.5% on a year-over-year basis. Equities research analysts predict that Wynn Resorts, Limited will post $4.80 earnings per share for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 22nd. Investors of record on Thursday, August 10th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Tuesday, August 8th. Wynn Resorts, Limited’s payout ratio is currently 74.91%.

In related news, President Matt Maddox sold 44,309 shares of the stock in a transaction on Friday, June 16th. The stock was sold at an average price of $134.35, for a total value of $5,952,914.15. Following the completion of the sale, the president now directly owns 344,895 shares of the company’s stock, valued at approximately $46,336,643.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Patricia Mulroy sold 2,226 shares of the stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $128.08, for a total value of $285,106.08. Following the completion of the sale, the director now directly owns 8,011 shares of the company’s stock, valued at $1,026,048.88. The disclosure for this sale can be found here. Insiders sold a total of 70,309 shares of company stock valued at $9,306,891 over the last three months. 13.20% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. raised its stake in Wynn Resorts, Limited by 0.5% in the first quarter. Sunbelt Securities Inc. now owns 2,042 shares of the casino operator’s stock worth $234,000 after buying an additional 11 shares during the last quarter. Xact Kapitalforvaltning AB raised its stake in Wynn Resorts, Limited by 0.6% in the second quarter. Xact Kapitalforvaltning AB now owns 6,367 shares of the casino operator’s stock worth $854,000 after buying an additional 39 shares during the last quarter. M&T Bank Corp raised its stake in Wynn Resorts, Limited by 1.3% in the first quarter. M&T Bank Corp now owns 3,883 shares of the casino operator’s stock worth $445,000 after buying an additional 48 shares during the last quarter. Financial Architects Inc raised its stake in Wynn Resorts, Limited by 4.2% in the second quarter. Financial Architects Inc now owns 1,250 shares of the casino operator’s stock worth $168,000 after buying an additional 50 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its stake in Wynn Resorts, Limited by 0.6% in the second quarter. Meeder Asset Management Inc. now owns 8,901 shares of the casino operator’s stock worth $1,194,000 after buying an additional 51 shares during the last quarter. 75.33% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts, Limited Company Profile

Wynn Resorts, Limited (Wynn Resorts) is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company’s segments include Macau Operations and Las Vegas Operations.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Wynn Resorts, Limited (NASDAQ:WYNN)

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