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

Key Points

• Wynn Resorts has received an average rating of "Moderate Buy" from analysts, with fourteen out of fifteen brokerages recommending to buy the stock.
• The stock is currently valued at around $121.45, with a projected 12-month target price averaging $124.47 among analysts.
• Wynn recently reported a quarterly earnings miss with $1.09 EPS, below the expected $1.20, despite revenue matching analyst predictions at $1.74 billion.

Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report) has been given an average rating of "Moderate Buy" by the fifteen brokerages that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $124.4667.

Several brokerages have recently issued reports on WYNN. Jefferies Financial Group boosted their price objective on Wynn Resorts from $130.00 to $133.00 and gave the company a "buy" rating in a report on Monday, August 11th. Barclays upped their price target on Wynn Resorts from $101.00 to $127.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Macquarie upped their price target on Wynn Resorts from $110.00 to $124.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Stifel Nicolaus upped their price target on Wynn Resorts from $113.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Finally, Morgan Stanley upped their price target on Wynn Resorts from $113.00 to $128.00 and gave the stock an "overweight" rating in a report on Thursday.

Wynn Resorts Stock Down 1.9%

Shares of WYNN stock opened at $121.45 on Friday. The stock has a market cap of $12.63 billion, a PE ratio of 36.47, a price-to-earnings-growth ratio of 6.37 and a beta of 1.37. The business has a 50-day simple moving average of $113.64 and a 200-day simple moving average of $95.37. Wynn Resorts has a 52-week low of $65.25 and a 52-week high of $128.53.

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

Wynn Resorts Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Patricia Mulroy sold 4,438 shares of the company'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 completion of the transaction, the director owned 3,066 shares of the company's stock, valued at approximately $383,250. This represents a 59.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.52% of the company's stock.

Hedge Funds Weigh In On Wynn Resorts

Hedge funds have recently made changes to their positions in the company. Barrow Hanley Mewhinney & Strauss LLC grew 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 purchasing an additional 485,204 shares in the last quarter. Bamco Inc. NY grew its position in shares of Wynn Resorts by 56.5% in the second quarter. Bamco Inc. NY now owns 1,337,236 shares of the casino operator's stock valued at $125,259,000 after purchasing an additional 482,570 shares in the last quarter. Norges Bank purchased a new stake in shares of Wynn Resorts in the second quarter valued at approximately $106,289,000. Palidye Holdings Caymans Ltd purchased a new stake in shares of Wynn Resorts in the second quarter valued at approximately $104,629,000. Finally, Regal Partners Ltd grew its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 88.64% 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.

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