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

Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the fifteen analysts that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $112.92.

A number of brokerages have recently issued reports on WYNN. Jefferies Financial Group upgraded shares of Wynn Resorts from a "hold" rating to a "buy" rating and increased their price target for the company from $105.00 to $118.00 in a report on Tuesday, February 18th. Macquarie reaffirmed an "outperform" rating and issued a $115.00 target price on shares of Wynn Resorts in a report on Friday, February 14th. Argus downgraded shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, April 23rd. StockNews.com lowered Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, March 12th. Finally, Bank of America raised Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a research note on Wednesday, May 7th.

Insider Buying and Selling at Wynn Resorts

In other news, major shareholder Tilman J. Fertitta bought 100,000 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The shares were purchased at an average price of $67.62 per share, for a total transaction of $6,762,000.00. Following the completion of the transaction, the insider now owns 13,000,000 shares in the company, valued at $879,060,000. The trade was a 0.78% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Philip G. Satre bought 22,200 shares of the stock in a transaction on Tuesday, February 18th. The stock was purchased at an average cost of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the purchase, the director now directly owns 34,195 shares in the company, valued at $3,152,095.10. This trade represents a 185.08% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 438,700 shares of company stock worth $31,300,943. Corporate insiders own 0.52% of the company's stock.

Institutional Investors Weigh In On Wynn Resorts

Several hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. lifted its position in Wynn Resorts by 12.7% during the first quarter. Raymond James Financial Inc. now owns 992,022 shares of the casino operator's stock worth $82,834,000 after buying an additional 111,428 shares during the period. Oder Investment Management LLC acquired a new position in shares of Wynn Resorts during the 1st quarter valued at about $715,000. Brandywine Global Investment Management LLC lifted its holdings in shares of Wynn Resorts by 5.7% during the 1st quarter. Brandywine Global Investment Management LLC now owns 63,989 shares of the casino operator's stock worth $5,343,000 after acquiring an additional 3,447 shares during the period. Cookson Peirce & Co. Inc. boosted its position in shares of Wynn Resorts by 73.3% in the first quarter. Cookson Peirce & Co. Inc. now owns 58,618 shares of the casino operator's stock worth $4,895,000 after acquiring an additional 24,790 shares during the last quarter. Finally, Regal Partners Ltd grew its holdings in Wynn Resorts by 21.5% in the first quarter. Regal Partners Ltd now owns 1,091,578 shares of the casino operator's stock valued at $91,147,000 after purchasing an additional 192,873 shares during the period. Institutional investors and hedge funds own 88.64% of the company's stock.

Wynn Resorts Price Performance

NASDAQ WYNN traded up $1.63 on Friday, hitting $96.79. 2,519,422 shares of the company's stock were exchanged, compared to its average volume of 2,503,066. The firm has a market cap of $10.12 billion, a price-to-earnings ratio of 22.99, a P/E/G ratio of 2.35 and a beta of 1.33. The firm's 50-day moving average price is $80.74 and its two-hundred day moving average price is $85.70. Wynn Resorts has a fifty-two week low of $65.25 and a fifty-two week high of $107.81.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The casino operator reported $1.07 earnings per share 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 analysts' expectations of $1.74 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The firm's quarterly revenue was down 8.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.59 earnings per share. On average, research analysts predict that Wynn Resorts will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.03%. The ex-dividend date is Friday, May 16th. Wynn Resorts's payout ratio is 27.78%.

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.