Wynn Resorts (NASDAQ:WYNN) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of Wynn Resorts (NASDAQ:WYNN) from a hold rating to a buy rating in a research report report published on Wednesday morning.

Other equities analysts have also recently issued research reports about the stock. Wells Fargo & Company reduced their price target on shares of Wynn Resorts from $126.00 to $115.00 and set an overweight rating on the stock in a research report on Wednesday, August 7th. Citigroup increased their price target on shares of Wynn Resorts from $132.00 to $138.00 and gave the stock a buy rating in a research report on Wednesday, May 8th. Macquarie restated an outperform rating and set a $126.00 price objective on shares of Wynn Resorts in a research report on Wednesday, August 7th. Barclays raised their target price on shares of Wynn Resorts from $124.00 to $128.00 and gave the company an overweight rating in a research note on Thursday, May 9th. Finally, Stifel Nicolaus lifted their price objective on shares of Wynn Resorts from $135.00 to $138.00 and gave the stock a buy rating in a research note on Wednesday, May 8th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $116.07.

Wynn Resorts Stock Down 0.5 %

Wynn Resorts stock opened at $76.72 on Wednesday. The stock has a market cap of $8.52 billion, a P/E ratio of 10.51, a P/E/G ratio of 1.73 and a beta of 1.80. The company’s 50 day moving average price is $79.92 and its two-hundred day moving average price is $91.45. Wynn Resorts has a 52 week low of $71.63 and a 52 week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the prior year, the firm posted $0.91 earnings per share. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. On average, equities analysts anticipate that Wynn Resorts will post 5.55 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date was Monday, August 19th. Wynn Resorts’s payout ratio is currently 13.70%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in WYNN. Norges Bank bought a new stake in shares of Wynn Resorts during the 4th quarter valued at $157,305,000. Interval Partners LP raised its stake in Wynn Resorts by 999.0% in the first quarter. Interval Partners LP now owns 400,911 shares of the casino operator’s stock valued at $40,985,000 after buying an additional 364,432 shares during the period. Renaissance Technologies LLC increased its stake in Wynn Resorts by 29.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock worth $120,386,000 after acquiring an additional 303,033 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of Wynn Resorts by 6,720.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 257,537 shares of the casino operator’s stock valued at $23,050,000 after purchasing an additional 253,761 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Wynn Resorts by 22.2% during the 1st quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock valued at $115,082,000 after acquiring an additional 204,852 shares in the last quarter. 68.87% of the stock is owned by institutional investors.

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.