Wynn Resorts (NASDAQ:WYNN) Price Target Raised to $125.00 at Barclays

Wynn Resorts (NASDAQ:WYNN) had its price objective boosted by Barclays from $108.00 to $125.00 in a research report released on Thursday, Benzinga reports. Barclays currently has an overweight rating on the casino operator’s stock.

Several other research analysts have also commented on WYNN. UBS Group raised shares of Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. Stifel Nicolaus dropped their price target on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research note on Friday, September 13th. Wells Fargo & Company cut their price target on shares of Wynn Resorts from $126.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Finally, JPMorgan Chase & Co. cut their target price on Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $115.67.

Wynn Resorts Trading Up 1.5 %

Shares of NASDAQ WYNN opened at $99.44 on Thursday. Wynn Resorts has a 12-month low of $71.63 and a 12-month high of $110.38. The firm’s 50-day moving average price is $85.42 and its 200-day moving average price is $89.25. The stock has a market capitalization of $11.14 billion, a price-to-earnings ratio of 13.62, a P/E/G ratio of 2.57 and a beta of 1.81.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the company earned $0.91 earnings per share. On average, equities analysts predict that Wynn Resorts will post 5.42 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Monday, August 19th. Wynn Resorts’s payout ratio is 13.70%.

Insider Activity

In related news, Director Patricia Mulroy sold 2,650 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the completion of the sale, the director now directly owns 5,689 shares of the company’s stock, valued at $447,894.97. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Wynn Resorts

A number of large investors have recently bought and sold shares of WYNN. Empirical Finance LLC boosted its position in Wynn Resorts by 3.7% during the 1st quarter. Empirical Finance LLC now owns 3,220 shares of the casino operator’s stock valued at $329,000 after acquiring an additional 114 shares in the last quarter. EntryPoint Capital LLC boosted its position in Wynn Resorts by 7.2% during the first quarter. EntryPoint Capital LLC now owns 1,738 shares of the casino operator’s stock valued at $178,000 after purchasing an additional 117 shares in the last quarter. Fifth Third Bancorp grew its stake in Wynn Resorts by 8.5% in the second quarter. Fifth Third Bancorp now owns 1,536 shares of the casino operator’s stock valued at $137,000 after purchasing an additional 120 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Wynn Resorts by 2.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,540 shares of the casino operator’s stock worth $496,000 after purchasing an additional 149 shares in the last quarter. Finally, Garde Capital Inc. lifted its position in shares of Wynn Resorts by 10.1% during the first quarter. Garde Capital Inc. now owns 1,737 shares of the casino operator’s stock valued at $177,000 after buying an additional 160 shares during the last quarter. Institutional investors own 68.87% 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.