Wynn Resorts, Limited (NASDAQ:WYNN) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a positive outlook: Twenty brokerages give Wynn Resorts a consensus “Moderate Buy” rating, including 17 buys, two holds and one strong buy. The average 12-month price target is $133.35.
• Institutional ownership is substantial: Major investors including BlackRock, Barrow Hanley, Egerton Capital and Norges Bank recently initiated positions, with institutions collectively owning 88.64% of Wynn’s shares.
• Recent financial results exceeded expectations: Wynn reported quarterly EPS of $1.24 versus the $0.99 consensus estimate and revenue of $1.86 billion, up 6.9% year over year. The company also pays a quarterly dividend of $0.25 per share, representing a 1.2% yield.

Shares of Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report) have been given a consensus rating of "Moderate Buy" by the twenty brokerages that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $133.3529.

Several research firms recently issued reports on WYNN. Wolfe Research started coverage on shares of Wynn Resorts in a research report on Wednesday, September 2nd. They issued an "outperform" rating and a $128.00 price target for the company. JPMorgan Chase & Co. lowered their price objective on Wynn Resorts from $135.00 to $134.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 15th. The Goldman Sachs Group set a $120.00 target price on Wynn Resorts in a report on Wednesday, July 15th. Weiss Ratings reiterated a "hold (c)" rating on shares of Wynn Resorts in a research report on Wednesday, June 24th. Finally, Stifel Nicolaus set a $143.00 price objective on Wynn Resorts in a research note on Wednesday, August 5th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of WYNN. BlackRock Inc. bought a new position in Wynn Resorts in the 2nd quarter valued at $609,566,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Wynn Resorts during the second quarter worth $321,402,000. Egerton Capital UK LLP acquired a new position in shares of Wynn Resorts during the fourth quarter valued at $249,053,000. Alyeska Investment Group L.P. acquired a new position in shares of Wynn Resorts during the second quarter valued at $99,277,000. Finally, Norges Bank bought a new position in Wynn Resorts in the fourth quarter valued at about $122,696,000. Institutional investors own 88.64% of the company's stock.

Wynn Resorts Price Performance

Shares of WYNN stock opened at $82.51 on Wednesday. Wynn Resorts has a one year low of $81.35 and a one year high of $134.72. The stock has a fifty day moving average price of $95.36 and a 200 day moving average price of $99.63. The stock has a market cap of $8.50 billion, a P/E ratio of 20.47, a price-to-earnings-growth ratio of 1.00 and a beta of 1.00.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The casino operator reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.25. Wynn Resorts had a net margin of 6.05% and a negative return on equity of 46.52%. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the previous year, the firm posted $1.09 EPS. The business's revenue for the quarter was up 6.9% on a year-over-year basis. Equities research analysts anticipate that Wynn Resorts will post 4.55 EPS for the current year.

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 14th. Wynn Resorts's dividend payout ratio (DPR) is currently 24.81%.

Wynn Resorts Company Profile

Wynn Resorts, Ltd. is a global luxury hospitality and entertainment company that develops and operates integrated resorts. Its properties combine casino gaming with hotel accommodations, fine dining, retail shopping, nightlife, entertainment, spas and meeting facilities.

The company operates Wynn Las Vegas and Encore Las Vegas in Nevada, Encore Boston Harbor in Massachusetts, and Wynn Macau and Encore Macau in Macau. These properties serve leisure and business travelers, gaming customers and convention guests across the United States and Asia.

Founded in 2002 by casino executive Steve Wynn, Wynn Resorts has expanded its portfolio through destination resorts focused on premium service and design.

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