Brokerages Set Wynn Resorts, Limited (NASDAQ:WYNN) Price Target at $124.47

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.

Shares of Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the fifteen analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $125.4667.

WYNN has been the subject of a number of analyst reports. Macquarie raised their target price on shares of Wynn Resorts from $110.00 to $124.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. JPMorgan Chase & Co. initiated coverage on shares of Wynn Resorts in a research report on Monday, June 23rd. They issued an "overweight" rating and a $109.00 target price for the company. Barclays raised their target price on shares of Wynn Resorts from $101.00 to $127.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Morgan Stanley increased their price target on shares of Wynn Resorts from $113.00 to $128.00 and gave the company an "overweight" rating in a research note on Thursday, September 11th. Finally, UBS Group upgraded shares of Wynn Resorts from a "neutral" rating to a "buy" rating and increased their price target for the company from $101.00 to $147.00 in a research note on Thursday, August 28th.

Wynn Resorts Stock Performance

Wynn Resorts stock traded up $5.40 during mid-day trading on Friday, reaching $128.68. The company's stock had a trading volume of 1,952,259 shares, compared to its average volume of 1,866,411. The company has a market capitalization of $13.38 billion, a price-to-earnings ratio of 38.64, a price-to-earnings-growth ratio of 6.34 and a beta of 1.37. Wynn Resorts has a 12 month low of $65.25 and a 12 month high of $129.01. The business's 50 day simple moving average is $114.73 and its 200 day simple moving average is $96.32.

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

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were paid a $0.25 dividend. The ex-dividend date 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 (DPR) is currently 30.03%.

Insider Buying and Selling

In other Wynn Resorts news, Director Patricia Mulroy sold 4,438 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total value of $554,750.00. Following the completion of the sale, the director owned 3,066 shares in the company, valued at $383,250. This trade represents a 59.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.52% of the stock is currently owned by corporate insiders.

Institutional Trading of Wynn Resorts

A number of hedge funds have recently modified their holdings of the stock. Thrivent Financial for Lutherans lifted its stake in shares of Wynn Resorts by 6,391.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 748,769 shares of the casino operator's stock worth $70,138,000 after buying an additional 737,234 shares during the last quarter. Hudson Bay Capital Management LP lifted its stake in shares of Wynn Resorts by 1,848.5% during the 2nd quarter. Hudson Bay Capital Management LP now owns 83,982 shares of the casino operator's stock worth $7,867,000 after buying an additional 79,672 shares during the last quarter. Nomura Holdings Inc. lifted its stake in shares of Wynn Resorts by 2.6% during the 2nd quarter. Nomura Holdings Inc. now owns 15,811 shares of the casino operator's stock worth $1,481,000 after buying an additional 395 shares during the last quarter. Hollencrest Capital Management lifted its stake in shares of Wynn Resorts by 18.3% during the 2nd quarter. Hollencrest Capital Management now owns 1,537 shares of the casino operator's stock worth $144,000 after buying an additional 238 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its stake in shares of Wynn Resorts by 55.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 18,157 shares of the casino operator's stock worth $1,701,000 after buying an additional 6,481 shares during 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.