Wynn Resorts, Limited (NASDAQ:WYNN) Given Consensus Rating of “Moderate Buy” by Brokerages
Wynn Resorts, Limited (NASDAQ:WYNN – Get Free Report) has been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $123.70.
A number of equities analysts have commented on the stock. HSBC assumed coverage on shares of Wynn Resorts in a research note on Monday, October 23rd. They issued a “buy” rating and a $111.00 price objective for the company. StockNews.com initiated coverage on shares of Wynn Resorts in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Morgan Stanley dropped their price target on shares of Wynn Resorts from $109.00 to $107.00 and set an “equal weight” rating for the company in a research note on Thursday, November 16th. Finally, Stifel Nicolaus dropped their price target on shares of Wynn Resorts from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, November 10th.
View Our Latest Report on Wynn Resorts
Insider Activity at Wynn Resorts
In related news, Director Patricia Mulroy sold 500 shares of Wynn Resorts stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $97.61, for a total transaction of $48,805.00. Following the completion of the sale, the director now owns 1,482 shares in the company, valued at approximately $144,658.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.62% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Wynn Resorts
Several large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Wynn Resorts by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 11,424,780 shares of the casino operator’s stock valued at $720,104,000 after purchasing an additional 100,246 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Wynn Resorts by 3.3% in the 2nd quarter. BlackRock Inc. now owns 6,958,745 shares of the casino operator’s stock valued at $734,913,000 after purchasing an additional 224,974 shares in the last quarter. State Street Corp raised its holdings in shares of Wynn Resorts by 4.8% in the 2nd quarter. State Street Corp now owns 3,910,031 shares of the casino operator’s stock valued at $412,938,000 after purchasing an additional 180,839 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Wynn Resorts by 71.3% in the 2nd quarter. Fisher Asset Management LLC now owns 3,795,297 shares of the casino operator’s stock valued at $400,821,000 after purchasing an additional 1,579,337 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Wynn Resorts by 2.9% in the 2nd quarter. Geode Capital Management LLC now owns 2,343,729 shares of the casino operator’s stock valued at $246,906,000 after purchasing an additional 65,207 shares in the last quarter. Institutional investors own 61.88% of the company’s stock.
Wynn Resorts Stock Up 0.9 %
Shares of NASDAQ:WYNN opened at $85.15 on Friday. Wynn Resorts has a 52 week low of $79.33 and a 52 week high of $117.86. The stock has a market capitalization of $9.62 billion, a P/E ratio of 1,064.51 and a beta of 1.92. The firm has a fifty day simple moving average of $89.23 and a two-hundred day simple moving average of $97.58.
Wynn Resorts (NASDAQ:WYNN – Get Free Report) last issued its quarterly earnings data on Thursday, November 9th. The casino operator reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.20. Wynn Resorts had a net margin of 0.58% and a negative return on equity of 6.80%. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same period last year, the company posted ($1.20) EPS. The business’s revenue was up 87.9% on a year-over-year basis. On average, analysts expect that Wynn Resorts will post 3.17 earnings per share for the current year.
Wynn Resorts Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Monday, November 20th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, November 17th. This represents a $1.00 dividend on an annualized basis and a yield of 1.17%. Wynn Resorts’s payout ratio is 1,250.16%.
Wynn Resorts Company Profile (Get Free Report
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.
Further Reading
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