Wynn Resorts, Limited (NASDAQ:WYNN) Stock Has Average Price Target of $130.12 According to Brokerages

Key Points

• Analysts maintain a moderately bullish view: Twenty analysts give Wynn Resorts an average “Moderate Buy” rating, with an average 12-month price target of $130.12 versus the reported share price of $75.60.
• Recent quarterly results beat expectations: Wynn reported adjusted earnings of $1.24 per share, exceeding the $0.99 consensus estimate, while revenue rose 6.9% year over year to $1.86 billion.
• Institutional ownership is high and the company pays a dividend: Institutional investors own 88.64% of the stock, and Wynn’s quarterly dividend of $0.25 equates to a $1.00 annualized payout and approximately a 1.3% yield.

Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the twenty analysts that are currently covering the stock, 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 12-month price objective among analysts that have issued ratings on the stock in the last year is $130.12.

Several equities analysts have recently issued reports on WYNN shares. Wells Fargo & Company decreased their price target on shares of Wynn Resorts from $141.00 to $131.00 and set an "overweight" rating for the company in a report on Wednesday, August 5th. Stifel Nicolaus set a $143.00 price objective on Wynn Resorts in a research note on Wednesday, August 5th. The Goldman Sachs Group set a $102.00 target price on Wynn Resorts in a report on Tuesday. Argus boosted their target price on Wynn Resorts from $115.00 to $130.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Finally, Barclays decreased their target price on Wynn Resorts from $136.00 to $128.00 and set an "overweight" rating for the company in a research note on Friday, October 9th.

Institutional Trading of Wynn Resorts

A number of institutional investors have recently made changes to their positions in WYNN. SHP Wealth Management bought a new position in Wynn Resorts in the fourth quarter valued at $32,000. Operose Advisors LLC increased its stake in Wynn Resorts by 400.0% in the 2nd quarter. Operose Advisors LLC now owns 500 shares of the casino operator's stock valued at $49,000 after buying an additional 400 shares during the last quarter. Parallel Advisors LLC lifted its position in Wynn Resorts by 18.5% during the 1st quarter. Parallel Advisors LLC now owns 756 shares of the casino operator's stock worth $77,000 after buying an additional 118 shares in the last quarter. Optiver Holding B.V. bought a new stake in Wynn Resorts during the 1st quarter worth about $90,000. Finally, GKV Capital Management Co. Inc. bought a new stake in Wynn Resorts during the 1st quarter worth about $102,000. Institutional investors own 88.64% of the company's stock.

Wynn Resorts Trading Down 1.8%

Shares of WYNN opened at $75.60 on Friday. Wynn Resorts has a 1 year low of $73.07 and a 1 year high of $134.72. The stock has a market cap of $7.78 billion, a P/E ratio of 18.76, a price-to-earnings-growth ratio of 0.91 and a beta of 0.96. The stock's 50-day moving average price is $87.79 and its two-hundred day moving average price is $96.62.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its earnings results on Tuesday, August 4th. The casino operator reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.25. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.83 billion. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%. The company's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.09 EPS. As a group, equities analysts forecast 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. Shareholders of record on Friday, August 14th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. Wynn Resorts's dividend payout ratio (DPR) is currently 24.81%.

Wynn Resorts Company Profile

Wynn Resorts, Ltd. is a developer and operator of luxury integrated resorts that combine casino gaming, hotel accommodations, fine dining, entertainment, retail, and convention facilities. Its properties are designed to serve leisure travelers, convention visitors, and gaming customers.

The company operates Wynn and Encore resorts in Las Vegas, Nevada; Wynn Macau and Wynn Palace in Macau; and Encore Boston Harbor in Everett, Massachusetts. These properties offer casino floors, guest rooms and suites, restaurants, spas, theaters and other amenities, with operations serving customers from the United States, China and international markets.

Wynn Resorts was founded in 2002 by Steve Wynn, who previously helped develop major casino resorts in Las Vegas and Macau.

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