Wynn Resorts, Limited (NASDAQ:WYNN) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) have been given an average recommendation of “Moderate Buy” by the twenty research firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $124.88.

Several research analysts have recently issued reports on WYNN shares. Zacks Research upgraded shares of Wynn Resorts from a “strong sell” rating to a “hold” rating in a research note on Monday, August 10th. Wolfe Research assumed coverage on shares of Wynn Resorts in a research report on Wednesday, September 2nd. They set an “outperform” rating and a $128.00 target price for the company. Argus increased their target price on shares of Wynn Resorts from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Wynn Resorts in a report on Monday, September 21st. Finally, Truist Financial dropped their price target on Wynn Resorts from $125.00 to $110.00 and set a “buy” rating on the stock in a research note on Tuesday.

Institutional Trading of Wynn Resorts

A number of hedge funds have recently modified their holdings of the stock. QRG Capital Management Inc. lifted its stake in shares of Wynn Resorts by 4.9% in the 1st quarter. QRG Capital Management Inc. now owns 2,071 shares of the casino operator’s stock valued at $210,000 after purchasing an additional 96 shares during the period. Parallel Advisors LLC boosted its position in shares of Wynn Resorts by 18.5% during the 1st quarter. Parallel Advisors LLC now owns 756 shares of the casino operator’s stock valued at $77,000 after acquiring an additional 118 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Wynn Resorts by 1.4% in the first quarter. PNC Financial Services Group Inc. now owns 11,093 shares of the casino operator’s stock valued at $1,127,000 after buying an additional 150 shares during the last quarter. Wedmont Private Capital increased its holdings in Wynn Resorts by 5.7% in the 2nd quarter. Wedmont Private Capital now owns 2,845 shares of the casino operator’s stock valued at $284,000 after purchasing an additional 154 shares during the last quarter. Finally, Mufg Securities Americas Inc. lifted its position in shares of Wynn Resorts by 8.1% during the second quarter. Mufg Securities Americas Inc. now owns 2,526 shares of the casino operator’s stock worth $245,000 after purchasing an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wynn Resorts Stock Down 0.8%

Shares of WYNN opened at $75.13 on Friday. The stock has a market capitalization of $7.74 billion, a P/E ratio of 18.64, a PEG ratio of 0.89 and a beta of 0.96. Wynn Resorts has a twelve month low of $73.07 and a twelve month high of $134.72. The firm has a fifty day simple moving average of $85.62 and a two-hundred day simple moving average of $95.89.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Tuesday, August 4th. The casino operator reported $1.24 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.25. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same period in the previous year, the firm posted $1.09 EPS. The business’s revenue was up 6.9% on a year-over-year basis. Sell-side analysts expect that Wynn Resorts will post 4.35 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, August 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. Wynn Resorts’s dividend payout ratio (DPR) is presently 24.81%.

Wynn Resorts Company Profile

Wynn Resorts, Ltd. is a developer and operator of luxury integrated resorts, with a focus on destination casinos, hotels, restaurants, entertainment venues, retail, and convention facilities. Its properties are designed to combine gaming with premium hospitality and leisure experiences.

The company operates Wynn Las Vegas and Encore Las Vegas in Nevada, Encore Boston Harbor in Massachusetts, and Wynn Macau and Wynn Palace in Macau. These resorts serve visitors in the United States and international markets, offering accommodations, casino gaming, dining, nightlife, retail, spas, entertainment, and meeting and convention services.

Wynn Resorts was founded in 2002 by casino executive Steve Wynn.