Wynn Resorts (NASDAQ:WYNN) Lifted to "Buy" at StockNews.com

StockNews.com upgraded shares of Wynn Resorts (NASDAQ:WYNN - Free Report) from a hold rating to a buy rating in a report issued on Thursday.

A number of other equities research analysts have also recently commented on the stock. UBS Group decreased their target price on shares of Wynn Resorts from $117.00 to $108.00 and set a neutral rating on the stock in a research note on Tuesday, February 6th. Macquarie lifted their price objective on shares of Wynn Resorts from $122.00 to $128.00 and gave the company an outperform rating in a research report on Friday, February 9th. 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. Morgan Stanley lifted their price objective on shares of Wynn Resorts from $99.00 to $107.00 and gave the company an equal weight rating in a research report on Tuesday, February 13th. Finally, Barclays lifted their price objective on shares of Wynn Resorts from $108.00 to $117.00 and gave the company an overweight rating in a research report on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Wynn Resorts currently has a consensus rating of Moderate Buy and an average price target of $120.43.

Wynn Resorts Trading Down 0.3 %

NASDAQ:WYNN traded down $0.30 on Thursday, reaching $106.12. 2,407,734 shares of the stock traded hands, compared to its average volume of 1,870,717. The company has a market capitalization of $11.89 billion, a price-to-earnings ratio of 17.75 and a beta of 1.93. Wynn Resorts has a 12 month low of $81.65 and a 12 month high of $117.86. The company's fifty day simple moving average is $101.47 and its 200 day simple moving average is $94.08.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The casino operator reported $1.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.15 by $0.76. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a net margin of 11.18% and a negative return on equity of 31.17%. The business's quarterly revenue was up 83.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.23) EPS. Equities analysts anticipate that Wynn Resorts will post 5.27 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Tuesday, February 20th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.94%. Wynn Resorts's dividend payout ratio is presently 16.72%.

Insiders Place Their Bets

In other Wynn Resorts news, EVP Ellen F. Whittemore sold 654 shares of the firm's stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $93.90, for a total transaction of $61,410.60. Following the completion of the transaction, the executive vice president now directly owns 90,025 shares of the company's stock, valued at approximately $8,453,347.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Ellen F. Whittemore sold 654 shares of Wynn Resorts stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $93.90, for a total value of $61,410.60. Following the sale, the executive vice president now owns 90,025 shares of the company's stock, valued at approximately $8,453,347.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Craig Scott Billings sold 19,235 shares of Wynn Resorts stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $108.00, for a total transaction of $2,077,380.00. Following the completion of the sale, the chief executive officer now directly owns 307,904 shares in the company, valued at approximately $33,253,632. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,828 shares of company stock worth $7,345,942. 0.52% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Campbell Capital Management Inc. purchased a new position in shares of Wynn Resorts during the 1st quarter worth $4,633,000. PNC Financial Services Group Inc. raised its holdings in Wynn Resorts by 3.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,192 shares of the casino operator's stock valued at $929,000 after buying an additional 336 shares during the period. Vanguard Group Inc. raised its holdings in Wynn Resorts by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 10,862,024 shares of the casino operator's stock valued at $989,639,000 after buying an additional 41,251 shares during the period. ICA Group Wealth Management LLC purchased a new stake in Wynn Resorts in the 4th quarter valued at about $27,000. Finally, Fisher Asset Management LLC raised its holdings in Wynn Resorts by 0.4% in the 4th quarter. Fisher Asset Management LLC now owns 3,928,031 shares of the casino operator's stock valued at $357,883,000 after buying an additional 16,799 shares during the period. Hedge funds and other institutional investors own 68.87% of the company's stock.

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.