Wynn Resorts (NASDAQ:WYNN) Reaches New 52-Week High - Time to Buy?

Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report)'s stock price reached a new 52-week high on Monday . The company traded as high as $108.03 and last traded at $107.61, with a volume of 582075 shares. The stock had previously closed at $105.63.

Analyst Ratings Changes

A number of equities analysts have weighed in on WYNN shares. UBS Group reaffirmed a "neutral" rating and set a $101.00 target price (up previously from $83.00) on shares of Wynn Resorts in a report on Tuesday. Mizuho dropped their target price on shares of Wynn Resorts from $132.00 to $122.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. The Goldman Sachs Group started coverage on shares of Wynn Resorts in a report on Monday. They set a "buy" rating and a $122.00 target price for the company. Wall Street Zen lowered shares of Wynn Resorts from a "buy" rating to a "hold" rating in a report on Wednesday, March 12th. Finally, Argus lowered shares of Wynn Resorts from a "buy" rating to a "hold" rating in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $112.62.

Wynn Resorts Stock Up 1.8%

The stock's 50-day simple moving average is $90.56 and its 200 day simple moving average is $85.70. The company has a market cap of $11.57 billion, a price-to-earnings ratio of 30.73, a PEG ratio of 3.05 and a beta of 1.37.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The casino operator reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.17). The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a negative return on equity of 62.13% and a net margin of 6.17%. The firm'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 company posted $1.59 EPS. On average, sell-side analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a dividend of $0.25 per share. The ex-dividend date was Friday, May 16th. This represents a $1.00 annualized dividend and a dividend yield of 0.90%. Wynn Resorts's dividend payout ratio is presently 27.78%.

Insider Activity

In other news, Director Patricia Mulroy sold 2,262 shares of the stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $92.12, for a total transaction of $208,375.44. Following the sale, the director owned 3,066 shares of the company's stock, valued at approximately $282,439.92. This represents a 42.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.52% of the company's stock.

Institutional Trading of Wynn Resorts

Several hedge funds have recently added to or reduced their stakes in the company. Strs Ohio acquired a new stake in Wynn Resorts in the first quarter valued at approximately $7,515,000. Geneos Wealth Management Inc. increased its stake in Wynn Resorts by 69.0% in the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator's stock valued at $32,000 after purchasing an additional 156 shares during the last quarter. Glenview Trust co increased its stake in Wynn Resorts by 3.2% in the first quarter. Glenview Trust co now owns 23,665 shares of the casino operator's stock valued at $1,976,000 after purchasing an additional 725 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co purchased a new position in Wynn Resorts in the first quarter valued at approximately $1,253,000. Finally, Bayforest Capital Ltd purchased a new position in Wynn Resorts in the first quarter valued at approximately $365,000. 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.