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

Key Points

• Analysts remain broadly bullish on Wynn Resorts: 16 analysts rate the stock a buy and one rates it a strong buy, versus two hold ratings. The average 12-month price target is $134.19, well above the recent $95.26 share price.
• Institutional ownership is high and recently expanded: Hedge funds and other institutions own 88.64% of Wynn Resorts, with major additions from California State Teachers’ Retirement System and new stakes from BlackRock and other firms.
• Quarterly results exceeded expectations: Wynn reported $1.24 in EPS and $1.86 billion in revenue, surpassing estimates and marking 6.9% year-over-year revenue growth. The company also declared a quarterly dividend of $0.25, equivalent to a 1.0% annualized yield.

Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the nineteen analysts that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $134.1875.

Several research analysts have recently weighed in on WYNN shares. Wells Fargo & Company reduced their target price on Wynn Resorts from $141.00 to $131.00 and set an "overweight" rating for the company in a research note on Wednesday, August 5th. Barclays raised their target price on shares of Wynn Resorts from $134.00 to $136.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 5th. Stifel Nicolaus set a $143.00 price target on Wynn Resorts in a report on Wednesday, August 5th. JPMorgan Chase & Co. cut their price target on shares of Wynn Resorts from $135.00 to $134.00 and set an "overweight" rating for the company in a report on Wednesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $137.00 price target on shares of Wynn Resorts in a research report on Friday, May 8th.

Institutional Trading of Wynn Resorts

Several institutional investors and hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System boosted its stake in Wynn Resorts by 9,349.7% during the second quarter. California State Teachers Retirement System now owns 9,093,255 shares of the casino operator's stock worth $882,864,000 after buying an additional 8,997,027 shares during the period. BlackRock Inc. acquired a new stake in shares of Wynn Resorts during the second quarter valued at about $609,566,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Wynn Resorts in the 2nd quarter valued at approximately $321,402,000. Egerton Capital UK LLP purchased a new stake in Wynn Resorts in the fourth quarter valued at approximately $249,053,000. Finally, Palidye Holdings Caymans Ltd acquired a new stake in shares of Wynn Resorts in the second quarter valued at $104,629,000. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Wynn Resorts Trading Up 1.8%

Shares of WYNN stock opened at $95.26 on Friday. The stock has a market cap of $9.81 billion, a P/E ratio of 23.64, a P/E/G ratio of 0.82 and a beta of 1.01. The stock has a 50 day moving average of $99.00 and a 200 day moving average of $102.44. Wynn Resorts has a twelve month low of $92.52 and a twelve month high of $134.72.

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, topping analysts' consensus estimates 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 the consensus estimate of $1.83 billion. During the same period in the prior year, the firm posted $1.09 earnings per share. The firm's quarterly revenue was up 6.9% compared to the same quarter last year. On average, research analysts predict that Wynn Resorts will post 4.65 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, August 14th. Wynn Resorts's dividend payout ratio is 24.81%.

About Wynn Resorts

Wynn Resorts, Limited NASDAQ: WYNN is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.

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