Wynn Resorts (NASDAQ:WYNN - Free Report ) had its price objective raised by Barclays from $124.00 to $128.00 in a research report report published on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the casino operator's stock.
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Other equities analysts have also issued research reports about the company. Wells Fargo & Company raised their price target on Wynn Resorts from $125.00 to $128.00 and gave the stock an overweight rating in a report on Wednesday. Bank Of America (Bofa) lifted 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. Susquehanna raised their target price on shares of Wynn Resorts from $105.00 to $115.00 and gave the stock a positive rating in a research note on Thursday, February 8th. UBS Group cut their price target on shares of Wynn Resorts from $117.00 to $108.00 and set a neutral rating for the company in a report on Tuesday, February 6th. Finally, Morgan Stanley lifted their price objective on Wynn Resorts from $107.00 to $114.00 and gave the company an equal weight rating in a report on Tuesday, April 9th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Wynn Resorts presently has an average rating of Moderate Buy and an average price target of $122.93.
Read Our Latest Stock Report on Wynn Resorts
Wynn Resorts Stock Performance Shares of WYNN stock traded up $1.44 during mid-day trading on Thursday, hitting $97.19. 2,039,396 shares of the stock were exchanged, compared to its average volume of 1,824,634. The stock has a market capitalization of $10.89 billion, a price-to-earnings ratio of 16.35 and a beta of 1.91. Wynn Resorts has a 12-month low of $81.65 and a 12-month high of $113.50. The stock's fifty day simple moving average is $100.24 and its two-hundred day simple moving average is $95.39.
Wynn Resorts (NASDAQ:WYNN - Get Free Report ) last released its quarterly earnings results on Tuesday, May 7th. The casino operator reported $1.59 EPS for the quarter, topping the consensus estimate of $1.43 by $0.16. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.80 billion. Wynn Resorts had a negative return on equity of 31.17% and a net margin of 11.18%. The firm's revenue was up 30.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 earnings per share. On average, research analysts expect that Wynn Resorts will post 5.37 earnings per share for the current fiscal year.
Wynn Resorts Announces Dividend The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Monday, May 20th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, May 17th. Wynn Resorts's dividend payout ratio is currently 16.72%.
Insider Buying and Selling In other Wynn Resorts news, CFO Julie Cameron-Doe sold 6,383 shares of the company's stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $105.27, for a total value of $671,938.41. Following the sale, the chief financial officer now owns 78,150 shares of the company's stock, valued at $8,226,850.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website . In other news, Director Patricia Mulroy sold 960 shares of Wynn Resorts stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $105.17, for a total transaction of $100,963.20. Following the completion of the sale, the director now directly owns 522 shares in the company, valued at $54,898.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this link . Also, CFO Julie Cameron-Doe sold 6,383 shares of the firm's stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $105.27, for a total value of $671,938.41. Following the completion of the sale, the chief financial officer now directly owns 78,150 shares in the company, valued at $8,226,850.50. The disclosure for this sale can be found here . Insiders own 0.52% of the company's stock.
Institutional Inflows and Outflows A number of hedge funds and other institutional investors have recently bought and sold shares of WYNN. Nisa Investment Advisors LLC raised its holdings in shares of Wynn Resorts by 0.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 27,904 shares of the casino operator's stock worth $2,542,000 after purchasing an additional 109 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Wynn Resorts by 8.5% in the 1st quarter. Fifth Third Bancorp now owns 1,416 shares of the casino operator's stock worth $145,000 after purchasing an additional 111 shares during the last quarter. Empirical Finance LLC boosted its position in Wynn Resorts by 3.7% during the 1st quarter. Empirical Finance LLC now owns 3,220 shares of the casino operator's stock valued at $329,000 after purchasing an additional 114 shares during the period. Federated Hermes Inc. increased its position in Wynn Resorts by 47.5% in the fourth quarter. Federated Hermes Inc. now owns 435 shares of the casino operator's stock worth $40,000 after buying an additional 140 shares during the period. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Wynn Resorts by 36.3% during the first quarter. Venturi Wealth Management LLC now owns 597 shares of the casino operator's stock valued at $61,000 after acquiring an additional 159 shares during the period. 68.87% of the stock is owned by institutional investors and hedge funds.
About Wynn Resorts (
Get Free Report )
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.
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