Barclays Cuts Wynn Resorts (NASDAQ:WYNN) Price Target to $99.00

Wynn Resorts (NASDAQ:WYNN) had its price target trimmed by Barclays from $116.00 to $99.00 in a report released on Tuesday morning, Marketbeat.com reports. The brokerage currently has an overweight rating on the casino operator’s stock.

A number of other analysts have also recently issued reports on the company. Mizuho lifted their price objective on Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, February 14th. Jefferies Financial Group upgraded Wynn Resorts from a “hold” rating to a “buy” rating and lifted their price target for the company from $105.00 to $118.00 in a report on Tuesday, February 18th. StockNews.com downgraded Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Stifel Nicolaus lifted their target price on shares of Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Finally, Morgan Stanley cut their price target on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wynn Resorts currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.17.

Wynn Resorts Stock Up 3.1 %

Shares of Wynn Resorts stock opened at $81.58 on Tuesday. Wynn Resorts has a 12 month low of $65.25 and a 12 month high of $107.81. The stock has a market cap of $8.66 billion, a PE ratio of 19.38, a price-to-earnings-growth ratio of 2.35 and a beta of 1.53. The business has a fifty day simple moving average of $82.24 and a 200-day simple moving average of $87.26.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, topping the consensus estimate of $1.27 by $1.15. The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. Analysts expect that Wynn Resorts will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.23%. Wynn Resorts’s dividend payout ratio (DPR) is presently 23.75%.

Insider Transactions at Wynn Resorts

In other news, major shareholder Tilman J. Fertitta acquired 5,025 shares of Wynn Resorts stock in a transaction on Friday, March 21st. The stock was bought at an average price of $80.99 per share, for a total transaction of $406,974.75. Following the transaction, the insider now owns 10,905,025 shares of the company’s stock, valued at $883,197,974.75. The trade was a 0.05 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Philip G. Satre purchased 22,200 shares of the stock in a transaction on Tuesday, February 18th. The stock was acquired at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the acquisition, the director now directly owns 34,195 shares in the company, valued at approximately $3,152,095.10. This trade represents a 185.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 438,700 shares of company stock worth $31,300,943. Insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Wynn Resorts by 190.9% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,798 shares of the casino operator’s stock valued at $1,706,000 after purchasing an additional 12,993 shares during the last quarter. Brandywine Global Investment Management LLC acquired a new position in shares of Wynn Resorts in the 4th quarter worth approximately $5,216,000. Alliancebernstein L.P. grew its position in Wynn Resorts by 12.4% during the 4th quarter. Alliancebernstein L.P. now owns 122,760 shares of the casino operator’s stock worth $10,577,000 after acquiring an additional 13,553 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Wynn Resorts during the 4th quarter valued at $75,872,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Wynn Resorts in the 4th quarter valued at $2,270,000. 88.64% of the stock is currently owned by institutional investors and hedge funds.

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.