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

Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the fourteen brokerages that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $112.82.

WYNN has been the subject of a number of recent analyst reports. Citigroup upgraded shares of Wynn Resorts from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. initiated coverage on Wynn Resorts in a research note on Monday, June 23rd. They set an "overweight" rating and a $109.00 target price for the company. Bank of America raised Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a research report on Wednesday, May 7th. Mizuho reduced their price objective on Wynn Resorts from $132.00 to $122.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. Finally, Barclays lowered their price objective on shares of Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd.

Insiders Place Their Bets

In other news, major shareholder Tilman J. Fertitta acquired 300,000 shares of the firm's stock in a transaction on Friday, April 4th. The shares were purchased at an average cost of $70.37 per share, with a total value of $21,111,000.00. Following the completion of the purchase, the insider now owns 12,900,000 shares of the company's stock, valued at $907,773,000. This represents a 2.38% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Patricia Mulroy sold 2,262 shares of Wynn Resorts stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $92.12, for a total transaction of $208,375.44. Following the completion of the transaction, the director now owns 3,066 shares of the company's stock, valued at $282,439.92. This trade represents a 42.45% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company's stock.

Hedge Funds Weigh In On Wynn Resorts

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Wynn Resorts in the fourth quarter valued at $117,352,000. Jericho Capital Asset Management L.P. bought a new stake in Wynn Resorts during the 4th quarter worth about $101,375,000. Raymond James Financial Inc. acquired a new stake in Wynn Resorts in the 4th quarter valued at about $75,872,000. DAVENPORT & Co LLC bought a new position in shares of Wynn Resorts in the first quarter worth about $49,476,000. Finally, Nuveen LLC acquired a new position in shares of Wynn Resorts during the first quarter worth approximately $41,731,000. Institutional investors and hedge funds own 88.64% of the company's stock.

Wynn Resorts Stock Performance

WYNN opened at $94.68 on Monday. The firm has a market cap of $9.90 billion, a P/E ratio of 26.30, a price-to-earnings-growth ratio of 2.67 and a beta of 1.37. The business has a 50 day moving average price of $87.70 and a 200 day moving average price of $85.15. Wynn Resorts has a twelve month low of $65.25 and a twelve month high of $107.81.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The casino operator reported $1.07 EPS for the quarter, missing analysts' consensus estimates of $1.24 by ($0.17). The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a net margin of 6.17% and a negative return on equity of 62.13%. The company's revenue for the quarter was down 8.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.59 EPS. As a group, 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 disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend was 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.

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