Wynn Resorts (NASDAQ:WYNN) Hits New 1-Year High on Analyst Upgrade

Key Points

• Wynn Resorts shares reached a new 52-week high after Stifel Nicolaus raised their price target from $130 to $145, maintaining a buy rating.
• Multiple analysts have recently upgraded their ratings and price targets for Wynn Resorts, contributing to the positive momentum with a consensus target of $125.47.
• The company announced a quarterly dividend of $0.25 per share, which indicates a 0.8% yield, and it has an annualized payout ratio of approximately 30.03%.

Shares of Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report) hit a new 52-week high during mid-day trading on Thursday after Stifel Nicolaus raised their price target on the stock from $130.00 to $145.00. Stifel Nicolaus currently has a buy rating on the stock. Wynn Resorts traded as high as $129.01 and last traded at $128.68, with a volume of 1947914 shares traded. The stock had previously closed at $123.28.

Several other analysts have also recently weighed in on WYNN. Morgan Stanley lifted their price objective on shares of Wynn Resorts from $113.00 to $128.00 and gave the stock an "overweight" rating in a research note on Thursday, September 11th. Jefferies Financial Group raised their target price on shares of Wynn Resorts from $130.00 to $133.00 and gave the company a "buy" rating in a report on Monday, August 11th. 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 report on Friday, August 8th. Argus raised shares of Wynn Resorts from a "hold" rating to a "buy" rating and set a $145.00 target price on the stock in a report on Wednesday, September 3rd. Finally, Barclays lifted their price target on shares of Wynn Resorts from $101.00 to $127.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Fourteen equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $125.47.

Insider Activity

In related news, Director Patricia Mulroy sold 4,438 shares of the business's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total transaction of $554,750.00. Following the transaction, the director owned 3,066 shares in the company, valued at $383,250. The trade was a 59.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.52% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Dagco Inc. acquired a new position in shares of Wynn Resorts during the 1st quarter valued at $25,000. AlphaQuest LLC acquired a new position in Wynn Resorts during the first quarter worth $25,000. MUFG Securities EMEA plc acquired a new position in Wynn Resorts during the second quarter worth $25,000. Global X Japan Co. Ltd. raised its holdings in Wynn Resorts by 120.7% during the first quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator's stock worth $27,000 after buying an additional 175 shares during the last quarter. Finally, Manchester Capital Management LLC raised its holdings in Wynn Resorts by 1,500.0% during the second quarter. Manchester Capital Management LLC now owns 320 shares of the casino operator's stock worth $30,000 after buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 88.64% of the company's stock.

Wynn Resorts Price Performance

The company's fifty day simple moving average is $114.40 and its two-hundred day simple moving average is $96.05. The stock has a market cap of $13.38 billion, a price-to-earnings ratio of 38.64, a P/E/G ratio of 6.21 and a beta of 1.37.

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

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders 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 annualized dividend and a dividend yield of 0.8%. Wynn Resorts's dividend payout ratio is presently 30.03%.

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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