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

Key Points

• Wynn Resorts has a consensus analyst rating of “Moderate Buy”, based on 19 brokerage opinions. The average 12-month price target is $138.75.
• Recent analyst actions were mixed but mostly positive, with firms such as Citigroup, Barclays, Morgan Stanley, Truist, and Jefferies maintaining or assigning buy/overweight ratings while trimming their price targets.
• The company also posted a strong quarter, reporting $1.25 EPS and $1.86 billion in revenue, both above expectations, while revenue rose 9.2% year over year.

Shares of Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report) have earned an average recommendation of "Moderate Buy" from the nineteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $138.75.

Several analysts recently weighed in on the company. Citigroup cut their price target on Wynn Resorts from $145.00 to $132.00 and set a "buy" rating on the stock in a research note on Friday, May 8th. Barclays dropped their target price on Wynn Resorts from $139.00 to $134.00 and set an "overweight" rating on the stock in a report on Thursday. Morgan Stanley cut their target price on Wynn Resorts from $136.00 to $133.00 and set an "overweight" rating on the stock in a research note on Thursday, May 14th. Truist Financial began coverage on Wynn Resorts in a report on Wednesday. They set a "buy" rating and a $125.00 price target for the company. Finally, Jefferies Financial Group lowered their price target on Wynn Resorts from $161.00 to $150.00 and set a "buy" rating for the company in a research report on Monday, April 6th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in WYNN. Hantz Financial Services Inc. boosted its stake in Wynn Resorts by 54.9% during the 4th quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator's stock valued at $30,000 after purchasing an additional 89 shares during the last quarter. Horizon Investments LLC lifted its stake in Wynn Resorts by 6.7% during the 4th quarter. Horizon Investments LLC now owns 1,500 shares of the casino operator's stock valued at $180,000 after acquiring an additional 94 shares during the period. QRG Capital Management Inc. lifted its stake in Wynn Resorts by 4.9% during the 1st quarter. QRG Capital Management Inc. now owns 2,071 shares of the casino operator's stock valued at $210,000 after acquiring an additional 96 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Wynn Resorts by 21.6% during the 3rd quarter. Parallel Advisors LLC now owns 563 shares of the casino operator's stock valued at $72,000 after acquiring an additional 100 shares during the last quarter. Finally, Cromwell Holdings LLC boosted its holdings in shares of Wynn Resorts by 68.2% during the 4th quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator's stock valued at $31,000 after acquiring an additional 103 shares during the last quarter. Institutional investors own 88.64% of the company's stock.

Wynn Resorts Price Performance

NASDAQ:WYNN opened at $98.83 on Friday. The firm has a market capitalization of $10.26 billion, a P/E ratio of 29.50, a PEG ratio of 0.91 and a beta of 0.99. Wynn Resorts has a one year low of $93.15 and a one year high of $134.72. The company's 50-day simple moving average is $101.32 and its 200 day simple moving average is $106.88.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.18 by $0.07. Wynn Resorts had a net margin of 5.14% and a negative return on equity of 42.03%. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter last year, the firm earned $1.07 earnings per share. The business's revenue for the quarter was up 9.2% on a year-over-year basis. On average, equities research analysts expect that Wynn Resorts will post 4.61 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Monday, May 18th. Wynn Resorts's dividend payout ratio (DPR) is currently 29.85%.

Wynn Resorts Company Profile

Wynn Resorts, Limited NASDAQ: WYNN is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.

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