Wynn Resorts, Limited (NASDAQ:WYNN) Receives $140.69 Average Target Price from Analysts

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) have received a consensus recommendation of “Moderate Buy” from the sixteen analysts that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $140.1538.

WYNN has been the subject of several analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Wynn Resorts in a research note on Monday, December 29th. JPMorgan Chase & Co. lifted their price objective on shares of Wynn Resorts from $138.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, December 8th. Texas Capital upgraded shares of Wynn Resorts to a “strong-buy” rating in a research report on Thursday, January 8th. Wells Fargo & Company initiated coverage on Wynn Resorts in a research report on Tuesday, November 18th. They set an “overweight” rating and a $151.00 target price on the stock. Finally, Stifel Nicolaus lifted their price target on Wynn Resorts from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, December 8th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in WYNN. Capital World Investors raised its position in Wynn Resorts by 0.7% during the third quarter. Capital World Investors now owns 9,481,183 shares of the casino operator’s stock worth $1,216,151,000 after acquiring an additional 69,793 shares during the period. Bamco Inc. NY increased its stake in shares of Wynn Resorts by 56.5% during the second quarter. Bamco Inc. NY now owns 1,337,236 shares of the casino operator’s stock worth $125,259,000 after purchasing an additional 482,570 shares in the last quarter. Norges Bank purchased a new stake in shares of Wynn Resorts during the second quarter worth about $106,289,000. Palidye Holdings Caymans Ltd acquired a new position in shares of Wynn Resorts during the 2nd quarter worth about $104,629,000. Finally, Raymond James Financial Inc. lifted its stake in Wynn Resorts by 5.3% in the 3rd quarter. Raymond James Financial Inc. now owns 1,111,574 shares of the casino operator’s stock valued at $142,582,000 after buying an additional 55,555 shares in the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wynn Resorts Stock Down 2.6%

Shares of WYNN opened at $114.33 on Friday. The company has a market capitalization of $11.89 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 14.80 and a beta of 1.08. Wynn Resorts has a 52 week low of $65.25 and a 52 week high of $134.72. The stock’s 50-day moving average price is $123.28 and its 200-day moving average price is $119.71.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Thursday, November 6th. The casino operator reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.23). Wynn Resorts had a net margin of 7.09% and a negative return on equity of 54.88%. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same period in the previous year, the firm posted $0.90 earnings per share. The company’s revenue was up 8.3% compared to the same quarter last year. As a group, equities analysts anticipate that Wynn Resorts will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Monday, November 17th were given a $0.25 dividend. The ex-dividend date was Monday, November 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. Wynn Resorts’s payout ratio is 22.37%.

About Wynn Resorts

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.