Wynn Resorts (NASDAQ:WYNN) Upgraded at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Wynn Resorts (NASDAQ:WYNN) from a hold rating to a buy rating in a report published on Tuesday morning, Marketbeat.com reports. Jefferies Financial Group currently has $118.00 target price on the casino operator’s stock, up from their prior target price of $105.00.

Other analysts also recently issued reports about the stock. Barclays lifted their price objective on shares of Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Morgan Stanley boosted their price target on shares of Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Mizuho boosted their price target on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, February 14th. Finally, Stifel Nicolaus boosted their price target on shares of Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $120.58.

Wynn Resorts Price Performance

Shares of NASDAQ:WYNN opened at $93.47 on Tuesday. The firm has a fifty day moving average price of $85.39 and a two-hundred day moving average price of $87.14. Wynn Resorts has a one year low of $71.63 and a one year high of $110.38. The company has a market cap of $9.95 billion, a price-to-earnings ratio of 22.20, a PEG ratio of 2.64 and a beta of 1.76.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS 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 firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. Equities research analysts expect that Wynn Resorts will post 4.87 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Monday, February 24th. Wynn Resorts’s payout ratio is 23.75%.

Insider Buying and Selling at Wynn Resorts

In related news, Director Philip G. Satre purchased 22,200 shares of Wynn Resorts stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average price of $92.18 per share, for a total transaction 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 $3,152,095.10. This represents a 185.08 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Wynn Resorts

Several hedge funds and other institutional investors have recently modified their holdings of WYNN. Fisher Asset Management LLC increased its position in shares of Wynn Resorts by 70.7% during the third quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock valued at $380,821,000 after buying an additional 1,644,965 shares during the period. Norges Bank purchased a new position in shares of Wynn Resorts during the fourth quarter valued at about $117,352,000. Jericho Capital Asset Management L.P. purchased a new position in shares of Wynn Resorts during the fourth quarter valued at about $101,375,000. Raymond James Financial Inc. purchased a new position in shares of Wynn Resorts during the fourth quarter valued at about $75,872,000. Finally, Holocene Advisors LP increased its position in shares of Wynn Resorts by 27,868.5% during the third quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock valued at $72,672,000 after buying an additional 755,236 shares during the period. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wynn Resorts Company Profile

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.