Brokerages Set Wynn Resorts, Limited (NASDAQ:WYNN) Price Target at $119.58

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

A number of equities research analysts have recently issued reports on the stock. StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Mizuho boosted their price objective on shares of Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, February 14th. Stifel Nicolaus increased their target price on shares of Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Barclays lifted their price target on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Finally, Macquarie reissued an “outperform” rating and set a $115.00 price target on shares of Wynn Resorts in a research report on Friday, February 14th.

Wynn Resorts Stock Up 2.7 %

Wynn Resorts stock opened at $84.87 on Friday. The company’s 50-day moving average price is $85.78 and its two-hundred day moving average price is $89.06. The stock has a market cap of $9.01 billion, a P/E ratio of 20.16, a P/E/G ratio of 2.35 and a beta of 1.77. Wynn Resorts has a twelve month low of $71.63 and a twelve month high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $1.15. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. Equities analysts anticipate that Wynn Resorts will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders 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 1.18%. The ex-dividend date was Monday, February 24th. Wynn Resorts’s payout ratio is 23.75%.

Insider Activity

In other news, Director Philip G. Satre purchased 22,200 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was bought at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the purchase, the director now 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.52% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Wynn Resorts

A number of institutional investors and hedge funds have recently bought and sold shares of WYNN. Fisher Asset Management LLC raised its holdings in Wynn Resorts by 70.7% in the 3rd 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 last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Wynn Resorts by 18.4% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator’s stock worth $269,308,000 after purchasing an additional 485,204 shares during the period. Geode Capital Management LLC grew its stake in shares of Wynn Resorts by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 2,433,052 shares of the casino operator’s stock worth $209,120,000 after purchasing an additional 26,792 shares during the last quarter. Jefferies Financial Group Inc. grew its stake in shares of Wynn Resorts by 9.0% in the fourth quarter. Jefferies Financial Group Inc. now owns 1,683,600 shares of the casino operator’s stock worth $145,059,000 after purchasing an additional 139,270 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Wynn Resorts by 16.4% in the fourth quarter. Renaissance Technologies LLC now owns 1,616,756 shares of the casino operator’s stock valued at $139,300,000 after purchasing an additional 228,000 shares during the period. Institutional investors and hedge funds 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.