Wynn Resorts, Limited (NASDAQ:WYNN) Given Consensus Rating of “Buy” by Brokerages

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) have been assigned a consensus rating of “Buy” from the fourteen ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $119.58.

WYNN has been the subject of several research reports. Mizuho boosted their price objective 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. StockNews.com lowered Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Macquarie reiterated an “outperform” rating and issued a $115.00 target price on shares of Wynn Resorts in a research note on Friday, February 14th. Stifel Nicolaus upped their price target on Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Finally, Barclays lifted their price objective on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Friday, February 14th.

Insider Buying and Selling at Wynn Resorts

In related news, major shareholder Tilman J. Fertitta bought 100,000 shares of the firm’s stock in a transaction on Monday, April 7th. The stock was bought at an average cost of $67.62 per share, for a total transaction of $6,762,000.00. Following the completion of the purchase, the insider now directly owns 13,000,000 shares in the company, valued at approximately $879,060,000. The trade was a 0.78 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Philip G. Satre bought 22,200 shares of the stock in a transaction dated Tuesday, February 18th. The shares were bought at an average cost of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the acquisition, the director now directly owns 34,195 shares of the company’s stock, valued at approximately $3,152,095.10. The trade was a 185.08 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 438,700 shares of company stock worth $31,300,943 over the last 90 days. Insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Wynn Resorts

Several institutional investors have recently modified their holdings of WYNN. Janney Montgomery Scott LLC boosted its stake in Wynn Resorts by 404.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 47,566 shares of the casino operator’s stock valued at $3,972,000 after purchasing an additional 38,144 shares during the period. Bank Pictet & Cie Europe AG acquired a new position in shares of Wynn Resorts during the first quarter worth approximately $270,000. Exchange Traded Concepts LLC grew its holdings in Wynn Resorts by 37.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 18,979 shares of the casino operator’s stock worth $1,585,000 after buying an additional 5,168 shares in the last quarter. Legacy Trust increased its position in Wynn Resorts by 1.9% in the 1st quarter. Legacy Trust now owns 41,219 shares of the casino operator’s stock valued at $3,442,000 after acquiring an additional 755 shares during the period. Finally, Fifth Third Bancorp boosted its position in Wynn Resorts by 7.2% during the 1st quarter. Fifth Third Bancorp now owns 2,341 shares of the casino operator’s stock worth $195,000 after acquiring an additional 158 shares during the period. Institutional investors own 88.64% of the company’s stock.

Wynn Resorts Stock Up 1.4 %

Shares of WYNN opened at $74.77 on Wednesday. The firm has a market cap of $7.94 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 2.35 and a beta of 1.53. The company’s fifty day moving average is $82.72 and its two-hundred day moving average is $87.78. Wynn Resorts has a fifty-two week low of $65.25 and a fifty-two week high of $107.81.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $1.15. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. As a group, equities research analysts anticipate that Wynn Resorts will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.34%. The ex-dividend date was Monday, February 24th. Wynn Resorts’s dividend payout ratio (DPR) is presently 23.75%.

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.