Barclays Boosts Wynn Resorts (NASDAQ:WYNN) Price Target to $117.00

Wynn Resorts (NASDAQ:WYNNFree Report) had its target price hoisted by Barclays from $108.00 to $117.00 in a report released on Thursday, Benzinga reports. The firm currently has an overweight rating on the casino operator’s stock.

A number of other research firms have also commented on WYNN. Wells Fargo & Company lifted their price target on shares of Wynn Resorts from $122.00 to $124.00 and gave the company an overweight rating in a research report on Thursday. Susquehanna lifted their price target on shares of Wynn Resorts from $105.00 to $115.00 and gave the company a positive rating in a research report on Thursday. Morgan Stanley dropped their price target on shares of Wynn Resorts from $109.00 to $107.00 and set an equal weight rating on the stock in a research report on Thursday, November 16th. Stifel Nicolaus dropped their price target on shares of Wynn Resorts from $135.00 to $125.00 and set a buy rating on the stock in a research report on Friday, November 10th. Finally, Macquarie raised shares of Wynn Resorts from a neutral rating to an outperform rating and lifted their price target for the company from $115.00 to $122.00 in a research report on Wednesday, January 17th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Wynn Resorts has a consensus rating of Moderate Buy and a consensus price target of $119.23.

View Our Latest Stock Report on Wynn Resorts

Wynn Resorts Stock Performance

NASDAQ:WYNN opened at $105.60 on Thursday. The stock’s 50 day moving average price is $92.68 and its 200 day moving average price is $93.27. Wynn Resorts has a 52 week low of $81.65 and a 52 week high of $117.86. The company has a market capitalization of $11.93 billion, a P/E ratio of 17.66 and a beta of 1.93.

Wynn Resorts (NASDAQ:WYNNGet Free Report) last released its quarterly earnings data on Wednesday, February 7th. The casino operator reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.76. Wynn Resorts had a negative return on equity of 28.70% and a net margin of 11.18%. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the company posted ($1.23) earnings per share. The firm’s revenue was up 83.1% on a year-over-year basis. As a group, sell-side analysts forecast that Wynn Resorts will post 4.79 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 29th. Shareholders of record on Tuesday, February 20th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, February 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.95%. Wynn Resorts’s dividend payout ratio is currently 16.72%.

Insiders Place Their Bets

In other news, CFO Julie Cameron-Doe sold 4,407 shares of the business’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $95.26, for a total value of $419,810.82. Following the sale, the chief financial officer now owns 67,380 shares in the company, valued at approximately $6,418,618.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Julie Cameron-Doe sold 4,407 shares of the business’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $95.26, for a total value of $419,810.82. Following the sale, the chief financial officer now owns 67,380 shares in the company, valued at approximately $6,418,618.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ellen F. Whittemore sold 4,180 shares of the business’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $95.26, for a total transaction of $398,186.80. Following the completion of the sale, the executive vice president now owns 74,144 shares in the company, valued at approximately $7,062,957.44. The disclosure for this sale can be found here. Insiders have sold 47,250 shares of company stock worth $4,495,661 over the last 90 days. Corporate insiders own 0.62% of the company’s stock.

Institutional Investors Weigh In On Wynn Resorts

Several institutional investors and hedge funds have recently made changes to their positions in WYNN. Vanguard Group Inc. raised its holdings in shares of Wynn Resorts by 0.9% in the third quarter. Vanguard Group Inc. now owns 11,424,780 shares of the casino operator’s stock valued at $720,104,000 after buying an additional 100,246 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Wynn Resorts by 3.3% in the second quarter. BlackRock Inc. now owns 6,958,745 shares of the casino operator’s stock valued at $734,913,000 after buying an additional 224,974 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Wynn Resorts by 0.5% in the fourth quarter. Fisher Asset Management LLC now owns 3,931,323 shares of the casino operator’s stock valued at $358,183,000 after buying an additional 20,091 shares during the last quarter. State Street Corp raised its holdings in shares of Wynn Resorts by 4.8% in the second quarter. State Street Corp now owns 3,910,031 shares of the casino operator’s stock valued at $412,938,000 after buying an additional 180,839 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Wynn Resorts by 2.9% in the second quarter. Geode Capital Management LLC now owns 2,343,729 shares of the casino operator’s stock valued at $246,906,000 after buying an additional 65,207 shares during the last quarter. Institutional investors and hedge funds own 61.88% of the company’s stock.

About Wynn Resorts

(Get Free Report)

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.

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