Wynn Resorts, Limited (NASDAQ:WYNN) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Wynn Resorts has received an average consensus rating of "Moderate Buy" from 16 brokerages, with 14 analysts recommending a buy and 2 suggesting a hold.
• The average 12-month target price for Wynn Resorts stock among analysts is $127.33, with various firms adjusting their target prices upward in recent months.
• The company recently declared a quarterly dividend of $0.25, resulting in an annualized yield of 0.8%, signaling confidence in its financial position despite a recent earnings miss.

Shares of Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the sixteen ratings firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $127.3333.

A number of research analysts have issued reports on WYNN shares. JPMorgan Chase & Co. started coverage on Wynn Resorts in a research note on Monday, June 23rd. They issued an "overweight" rating and a $109.00 target price for the company. Barclays boosted their target price on Wynn Resorts from $101.00 to $127.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Stifel Nicolaus boosted their target price on Wynn Resorts from $130.00 to $145.00 and gave the company a "buy" rating in a research note on Thursday, September 18th. Weiss Ratings reissued a "hold (c)" rating on shares of Wynn Resorts in a research note on Saturday, September 27th. Finally, Jefferies Financial Group boosted their price target on Wynn Resorts from $130.00 to $133.00 and gave the company a "buy" rating in a report on Monday, August 11th.

Insider Activity at Wynn Resorts

In other news, Director Patricia Mulroy sold 4,438 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total value of $554,750.00. Following the sale, the director directly owned 3,066 shares in the company, valued at $383,250. The trade was a 59.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.52% of the stock is currently owned by company insiders.

Institutional Trading of Wynn Resorts

Institutional investors have recently modified their holdings of the company. Dagco Inc. bought a new stake in Wynn Resorts during the first quarter worth about $25,000. AlphaQuest LLC bought a new stake in Wynn Resorts during the first quarter worth about $25,000. MUFG Securities EMEA plc bought a new stake in Wynn Resorts during the second quarter worth about $25,000. Global X Japan Co. Ltd. raised its holdings in Wynn Resorts by 120.7% during the first quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator's stock worth $27,000 after acquiring an additional 175 shares in the last quarter. Finally, Manchester Capital Management LLC raised its holdings in Wynn Resorts by 1,500.0% during the second quarter. Manchester Capital Management LLC now owns 320 shares of the casino operator's stock worth $30,000 after acquiring an additional 300 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors.

Wynn Resorts Trading Down 1.3%

WYNN stock opened at $122.91 on Wednesday. Wynn Resorts has a 1-year low of $65.25 and a 1-year high of $134.23. The firm has a market cap of $12.78 billion, a PE ratio of 36.91, a P/E/G ratio of 6.24 and a beta of 1.31. The business's 50-day moving average price is $119.56 and its two-hundred day moving average price is $100.14.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its earnings results on Thursday, August 7th. The casino operator reported $1.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.20 by ($0.11). Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period in the previous year, the firm posted $1.12 earnings per share. The firm's revenue was up .6% on a year-over-year basis. On average, analysts forecast that Wynn Resorts will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Monday, August 18th. Wynn Resorts's payout ratio is 30.03%.

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.

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