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

Key Points

• Wynn Resorts has received an average recommendation of "Moderate Buy" from fifteen brokerages, with twelve giving a buy recommendation and three a hold recommendation.
• The company's stock opened at $108.15, and analysts have set an average 12-month price target of $118.64.
• Wynn Resorts is set to pay a quarterly dividend of $0.25 per share on August 29th, representing an annualized yield of 0.9%.

Shares of Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the fifteen brokerages that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $118.6429.

Several research analysts recently issued reports on the company. Morgan Stanley increased their price objective on Wynn Resorts from $111.00 to $113.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 12th. The Goldman Sachs Group assumed coverage on Wynn Resorts in a research note on Monday, July 7th. They issued a "buy" rating and a $122.00 price objective on the stock. Argus cut Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, April 23rd. Bank of America raised Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 price objective on the stock in a research note on Wednesday, May 7th. Finally, Citigroup reissued a "neutral" rating and issued a $114.00 price objective (up previously from $108.00) on shares of Wynn Resorts in a research note on Wednesday, July 9th.

Wynn Resorts Stock Performance

WYNN opened at $108.15 on Tuesday. The stock has a market cap of $11.25 billion, a price-to-earnings ratio of 32.48, a P/E/G ratio of 5.82 and a beta of 1.41. The stock's 50 day moving average price is $102.79 and its 200-day moving average price is $90.79. Wynn Resorts has a one year low of $65.25 and a one year high of $112.57.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its earnings results on Thursday, August 7th. The casino operator reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.20 by ($0.11). The business had revenue of $1.74 billion for 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 company's quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.12 EPS. As a group, analysts predict that Wynn Resorts will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, August 18th. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. Wynn Resorts's dividend payout ratio is currently 30.03%.

Insiders Place Their Bets

In other news, Director Patricia Mulroy sold 2,262 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $92.12, for a total transaction of $208,375.44. Following the completion of the sale, the director owned 3,066 shares in the company, valued at approximately $282,439.92. This represents a 42.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.52% of the stock is currently owned by corporate insiders.

Institutional Trading of Wynn Resorts

Several hedge funds and other institutional investors have recently made changes to their positions in WYNN. American Assets Inc. raised its stake in Wynn Resorts by 52.2% in the 4th quarter. American Assets Inc. now owns 10,200 shares of the casino operator's stock worth $879,000 after acquiring an additional 3,500 shares during the last quarter. Jump Financial LLC raised its stake in Wynn Resorts by 122.4% in the 4th quarter. Jump Financial LLC now owns 5,127 shares of the casino operator's stock worth $442,000 after acquiring an additional 2,822 shares during the last quarter. Commerce Bank raised its stake in Wynn Resorts by 4.2% in the 4th quarter. Commerce Bank now owns 9,802 shares of the casino operator's stock worth $845,000 after acquiring an additional 399 shares during the last quarter. First Trust Advisors LP raised its stake in Wynn Resorts by 2.7% in the 4th quarter. First Trust Advisors LP now owns 85,083 shares of the casino operator's stock worth $7,331,000 after acquiring an additional 2,251 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Wynn Resorts by 2.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 613,343 shares of the casino operator's stock worth $52,845,000 after acquiring an additional 13,100 shares during the last quarter. Hedge funds and other institutional investors own 88.64% of the company's stock.

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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