Brokerages Set Wynn Resorts, Limited (NASDAQ:WYNN) Target Price at $119.62

Wynn Resorts, Limited (NASDAQ:WYNN) has been assigned an average recommendation of “Moderate Buy” from the twelve analysts that are presently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $119.62.

WYNN has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price objective on shares of Wynn Resorts from $122.00 to $124.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Bank Of America (Bofa) boosted their price objective on shares of Wynn Resorts from $95.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 17th. Morgan Stanley boosted their price objective on shares of Wynn Resorts from $99.00 to $107.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 13th. Macquarie boosted their target price on shares of Wynn Resorts from $122.00 to $128.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. Finally, StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday.

Wynn Resorts Price Performance

Wynn Resorts stock opened at $98.84 on Tuesday. Wynn Resorts has a 12-month low of $81.65 and a 12-month high of $117.86. The company has a market capitalization of $11.08 billion, a price-to-earnings ratio of 16.53 and a beta of 1.94. The firm’s fifty day moving average price is $99.44 and its 200 day moving average price is $93.65.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Wednesday, February 7th. The casino operator reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.76. Wynn Resorts had a net margin of 11.18% and a negative return on equity of 31.17%. 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 previous year, the firm posted ($1.23) EPS. The firm’s quarterly revenue was up 83.1% on a year-over-year basis. Analysts forecast that Wynn Resorts will post 5.28 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Tuesday, February 20th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Friday, February 16th. Wynn Resorts’s dividend payout ratio is presently 16.72%.

Insider Activity at Wynn Resorts

In other news, CEO Craig Scott Billings sold 19,235 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $108.00, for a total transaction of $2,077,380.00. Following the sale, the chief executive officer now owns 307,904 shares in the company, valued at $33,253,632. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Wynn Resorts news, EVP Ellen F. Whittemore sold 654 shares of the company’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $93.90, for a total value of $61,410.60. Following the transaction, the executive vice president now owns 90,025 shares in the company, valued at approximately $8,453,347.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Craig Scott Billings sold 19,235 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $108.00, for a total transaction of $2,077,380.00. Following the completion of the transaction, the chief executive officer now owns 307,904 shares in the company, valued at approximately $33,253,632. The disclosure for this sale can be found here. Insiders sold a total of 73,828 shares of company stock valued at $7,345,942 over the last ninety days. Insiders own 0.62% of the company’s stock.

Institutional Trading of Wynn Resorts

Several large investors have recently added to or reduced their stakes in WYNN. Norges Bank bought a new stake in Wynn Resorts in the fourth quarter worth approximately $157,305,000. Sequoia Financial Advisors LLC grew its position in Wynn Resorts by 20,031.9% in the third quarter. Sequoia Financial Advisors LLC now owns 506,519 shares of the casino operator’s stock worth $46,807,000 after acquiring an additional 504,003 shares in the last quarter. Balyasny Asset Management LLC bought a new stake in Wynn Resorts in the third quarter worth approximately $26,471,000. Point72 Asset Management L.P. grew its position in Wynn Resorts by 133.9% in the fourth quarter. Point72 Asset Management L.P. now owns 661,671 shares of the casino operator’s stock worth $54,568,000 after acquiring an additional 378,775 shares in the last quarter. Finally, Holocene Advisors LP boosted its holdings in shares of Wynn Resorts by 176.2% during the 2nd quarter. Holocene Advisors LP now owns 566,379 shares of the casino operator’s stock worth $59,815,000 after buying an additional 361,319 shares during the period. 61.88% of the stock is owned by institutional investors.

About Wynn Resorts

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.