Wynn Resorts (NASDAQ:WYNN) Reaches New 12-Month High - Time to Buy?

Key Points

• Shares of Wynn Resorts reached a new 52-week high of $112.91, with the current trading price at $112.83 and a volume of nearly 2 million shares exchanged.
• Analysts show overall confidence with twelve giving a "Buy" rating and a price target average of $118.64, while Barclays set a more optimistic target of $127.00.
• The company declared a quarterly dividend of $0.25 per share, representing a 0.9% annual yield, with insider transactions showing a director reducing their holdings.

Shares of Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $112.91 and last traded at $112.83, with a volume of 1919581 shares changing hands. The stock had previously closed at $108.15.

Analyst Ratings Changes

A number of equities research analysts have issued reports on WYNN shares. UBS Group reaffirmed a "neutral" rating and issued a $101.00 price target (up previously from $83.00) on shares of Wynn Resorts in a research report on Tuesday, July 8th. Barclays increased their price target on Wynn Resorts from $101.00 to $127.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. began coverage on Wynn Resorts in a research report on Monday, June 23rd. They issued an "overweight" rating and a $109.00 price target on the stock. Bank of America raised Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a research report on Wednesday, May 7th. Finally, Stifel Nicolaus increased their price target on shares of Wynn Resorts from $113.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Twelve research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $118.64.

Wynn Resorts Trading Up 4.3%

The firm has a 50 day simple moving average of $102.79 and a two-hundred day simple moving average of $90.79. The company has a market capitalization of $11.73 billion, a PE ratio of 33.88, a P/E/G ratio of 5.82 and a beta of 1.41.

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

Wynn Resorts Announces Dividend

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

Insider Activity

In other news, Director Patricia Mulroy sold 2,262 shares of Wynn Resorts 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 transaction, the director owned 3,066 shares of the company's stock, valued at $282,439.92. The trade was a 42.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.52% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Dagco Inc. purchased a new stake in shares of Wynn Resorts in the first quarter valued at $25,000. AlphaQuest LLC purchased a new stake in Wynn Resorts in the 1st quarter valued at about $25,000. MUFG Securities EMEA plc purchased a new stake in Wynn Resorts in the 2nd quarter valued at about $25,000. Global X Japan Co. Ltd. grew its holdings in Wynn Resorts by 120.7% in the 1st quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator's stock valued at $27,000 after buying an additional 175 shares during the period. Finally, Manchester Capital Management LLC grew its holdings in Wynn Resorts by 1,500.0% in the 2nd quarter. Manchester Capital Management LLC now owns 320 shares of the casino operator's stock valued at $30,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 88.64% of the company's stock.

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.

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