Wynn Resorts, Limited (NASDAQ:WYNN) Receives $114.71 Consensus Target Price from Analysts

Shares of Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the fifteen research firms that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $114.71.

A number of equities analysts recently commented on WYNN shares. Mizuho reduced their price objective on shares of Wynn Resorts from $132.00 to $122.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. Citigroup reissued a "neutral" rating and issued a $114.00 price objective (up previously from $108.00) on shares of Wynn Resorts in a research note on Wednesday, July 9th. The Goldman Sachs Group started coverage on shares of Wynn Resorts in a report on Monday, July 7th. They issued a "buy" rating and a $122.00 price target on the stock. JPMorgan Chase & Co. started coverage on Wynn Resorts in a report on Monday, June 23rd. They set an "overweight" rating and a $109.00 price objective for the company. Finally, UBS Group reiterated a "neutral" rating and set a $101.00 price objective (up previously from $83.00) on shares of Wynn Resorts in a report on Tuesday, July 8th.

Wynn Resorts Stock Up 0.9%

NASDAQ:WYNN traded up $0.99 during midday trading on Friday, hitting $109.44. The stock had a trading volume of 1,463,424 shares, compared to its average volume of 1,911,695. Wynn Resorts has a one year low of $65.25 and a one year high of $112.36. The company has a market capitalization of $11.44 billion, a price-to-earnings ratio of 30.40, a PEG ratio of 3.00 and a beta of 1.37. The stock has a 50-day moving average of $96.51 and a 200 day moving average of $87.93.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The casino operator reported $1.07 EPS for the quarter, missing analysts' consensus estimates of $1.24 by ($0.17). The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a negative return on equity of 62.13% and a net margin of 6.17%. The business's quarterly revenue was down 8.7% on a year-over-year basis. During the same period last year, the firm earned $1.59 EPS. On average, sell-side analysts anticipate that Wynn Resorts will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, May 16th. This represents a $1.00 annualized dividend and a dividend yield of 0.91%. Wynn Resorts's payout ratio is currently 27.78%.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,262 shares of Wynn Resorts stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $92.12, for a total transaction of $208,375.44. Following the completion of the transaction, the director owned 3,066 shares in the company, valued at approximately $282,439.92. This trade represents a 42.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Wynn Resorts

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Wynn Resorts in the fourth quarter valued at about $117,352,000. Jericho Capital Asset Management L.P. acquired a new stake in shares of Wynn Resorts in the fourth quarter valued at about $101,375,000. DAVENPORT & Co LLC acquired a new stake in shares of Wynn Resorts in the first quarter valued at about $49,476,000. Nuveen LLC acquired a new stake in shares of Wynn Resorts in the first quarter valued at about $41,731,000. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Wynn Resorts by 18.4% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator's stock valued at $269,308,000 after buying an additional 485,204 shares during the last quarter. 88.64% of the stock is owned by hedge funds and other institutional investors.

About Wynn Resorts

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.