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

Shares of Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the fourteen analysts that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $113.18.

A number of research analysts have issued reports on WYNN shares. Stifel Nicolaus set a $113.00 target price on Wynn Resorts in a research report on Wednesday, May 7th. Macquarie reaffirmed an "outperform" rating and issued a $115.00 price objective on shares of Wynn Resorts in a research note on Friday, February 14th. Barclays lowered their price objective on Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Citigroup raised Wynn Resorts from a "neutral" rating to a "buy" rating in a research note on Wednesday, May 7th. Finally, Wall Street Zen downgraded Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, March 12th.

Insider Activity at Wynn Resorts

In other Wynn Resorts news, major shareholder Tilman J. Fertitta purchased 5,025 shares of the business's stock in a transaction on Friday, March 21st. The shares were purchased at an average cost of $80.99 per share, for a total transaction of $406,974.75. Following the acquisition, the insider now owns 10,905,025 shares of the company's stock, valued at approximately $883,197,974.75. This represents a 0.05% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patricia Mulroy sold 2,262 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $92.12, for a total value of $208,375.44. Following the transaction, the director now owns 3,066 shares in the company, valued at $282,439.92. The trade was a 42.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have purchased 416,500 shares of company stock worth $29,254,547 over the last ninety days. Insiders own 0.52% of the company's stock.

Hedge Funds Weigh In On Wynn Resorts

Institutional investors and hedge funds have recently modified their holdings of the business. State of Tennessee Department of Treasury boosted its holdings in shares of Wynn Resorts by 73.0% during the 4th quarter. State of Tennessee Department of Treasury now owns 23,791 shares of the casino operator's stock worth $2,050,000 after buying an additional 10,041 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Wynn Resorts by 190.9% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,798 shares of the casino operator's stock worth $1,706,000 after buying an additional 12,993 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Wynn Resorts during the 4th quarter worth approximately $2,296,000. Brandywine Global Investment Management LLC bought a new position in shares of Wynn Resorts during the 4th quarter worth approximately $5,216,000. Finally, Alliancebernstein L.P. raised its position in shares of Wynn Resorts by 12.4% during the fourth quarter. Alliancebernstein L.P. now owns 122,760 shares of the casino operator's stock worth $10,577,000 after purchasing an additional 13,553 shares during the period. 88.64% of the stock is currently owned by institutional investors.

Wynn Resorts Stock Performance

Shares of NASDAQ WYNN traded down $2.90 during mid-day trading on Thursday, reaching $83.24. The company had a trading volume of 3,423,387 shares, compared to its average volume of 2,582,749. Wynn Resorts has a one year low of $65.25 and a one year high of $107.81. The firm has a market cap of $8.70 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 2.35 and a beta of 1.33. The business's 50-day simple moving average is $82.99 and its 200 day simple moving average is $85.89.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its earnings results on Tuesday, May 6th. The casino operator reported $1.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.24 by ($0.17). Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the firm earned $1.59 EPS. The business's revenue was down 8.7% on a year-over-year basis. On average, sell-side analysts anticipate that Wynn Resorts will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend was Friday, May 16th. Wynn Resorts's payout ratio is presently 27.78%.

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.