Wynn Resorts, Limited (NASDAQ:WYNN) Given Average Recommendation of “Buy” by Brokerages

Wynn Resorts, Limited (NASDAQ:WYNN) has received a consensus recommendation of “Buy” from the fourteen brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $119.58.

Several brokerages have weighed in on WYNN. Morgan Stanley lowered their price target on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Barclays boosted their target price on shares of Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Stifel Nicolaus boosted their price objective on shares of Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a report on Friday, February 14th. Finally, Mizuho raised their target price on Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, February 14th.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, major shareholder Tilman J. Fertitta purchased 11,475 shares of Wynn Resorts stock in a transaction that occurred on Monday, March 24th. The stock was bought at an average price of $84.93 per share, with a total value of $974,571.75. Following the acquisition, the insider now owns 12,600,000 shares of the company’s stock, valued at $1,070,118,000. This trade represents a 0.09 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Philip G. Satre acquired 22,200 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was acquired at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the acquisition, the director now owns 34,195 shares of the company’s stock, valued at $3,152,095.10. This trade represents a 185.08 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 38,700 shares of company stock valued at $3,427,943. 0.52% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. IHT Wealth Management LLC lifted its holdings in Wynn Resorts by 1.7% during the third quarter. IHT Wealth Management LLC now owns 6,766 shares of the casino operator’s stock valued at $654,000 after purchasing an additional 112 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Wynn Resorts by 5.8% during the 4th quarter. Fifth Third Bancorp now owns 2,183 shares of the casino operator’s stock worth $188,000 after purchasing an additional 119 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in Wynn Resorts by 15.0% in the 4th quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator’s stock valued at $81,000 after buying an additional 122 shares in the last quarter. BOKF NA boosted its holdings in Wynn Resorts by 3.9% in the 4th quarter. BOKF NA now owns 3,557 shares of the casino operator’s stock worth $289,000 after buying an additional 132 shares during the last quarter. Finally, Snowden Capital Advisors LLC increased its stake in Wynn Resorts by 5.6% during the 4th quarter. Snowden Capital Advisors LLC now owns 2,589 shares of the casino operator’s stock worth $223,000 after buying an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wynn Resorts Stock Down 0.2 %

NASDAQ WYNN opened at $85.83 on Friday. Wynn Resorts has a 52 week low of $71.63 and a 52 week high of $110.38. The company has a 50 day moving average price of $85.93 and a 200 day moving average price of $89.10. The firm has a market cap of $9.11 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 2.35 and a beta of 1.77.

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

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts’s dividend payout ratio (DPR) is 23.75%.

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.