Wynn Resorts (NASDAQ:WYNN) Price Target Raised to $122.00

Wynn Resorts (NASDAQ:WYNN) had its price target upped by Susquehanna from $92.00 to $122.00 in a research report report published on Friday, Benzinga reports. They currently have a positive rating on the casino operator’s stock.

WYNN has been the subject of a number of other reports. JPMorgan Chase & Co. dropped their target price on shares of Wynn Resorts from $110.00 to $101.00 and set an overweight rating for the company in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft cut their price target on Wynn Resorts from $131.00 to $122.00 and set a buy rating on the stock in a research note on Wednesday, August 7th. Macquarie reiterated an outperform rating and issued a $126.00 price objective on shares of Wynn Resorts in a research report on Wednesday, August 7th. Jefferies Financial Group cut their target price on shares of Wynn Resorts from $111.00 to $96.00 and set a hold rating on the stock in a research report on Thursday, July 11th. Finally, Wells Fargo & Company lowered their price target on shares of Wynn Resorts from $126.00 to $115.00 and set an overweight rating for the company in a research report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Wynn Resorts presently has an average rating of Moderate Buy and an average target price of $115.20.

Wynn Resorts Price Performance

NASDAQ WYNN opened at $104.75 on Friday. The stock’s 50 day simple moving average is $82.92 and its 200 day simple moving average is $89.45. Wynn Resorts has a one year low of $71.63 and a one year high of $110.38. The firm has a market cap of $11.63 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 2.67 and a beta of 1.81.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Tuesday, August 6th. The casino operator reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the previous year, the company posted $0.91 EPS. Wynn Resorts’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, equities analysts expect that Wynn Resorts will post 5.44 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Monday, August 19th. Wynn Resorts’s payout ratio is presently 13.57%.

Insiders Place Their Bets

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction dated Monday, September 16th. The stock was 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 in the company, valued at $447,894.97. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Wynn Resorts

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Wynn Resorts by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock valued at $1,127,456,000 after acquiring an additional 166,594 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Wynn Resorts by 0.4% in the fourth quarter. Fisher Asset Management LLC now owns 3,928,031 shares of the casino operator’s stock valued at $357,883,000 after acquiring an additional 16,799 shares during the last quarter. Renaissance Technologies LLC raised its stake in Wynn Resorts by 29.1% during the second quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock worth $120,386,000 after buying an additional 303,033 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Wynn Resorts by 22.2% in 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 purchasing an additional 204,852 shares during the period. Finally, Bamco Inc. NY boosted its holdings in shares of Wynn Resorts by 5.1% during the 1st quarter. Bamco Inc. NY now owns 788,335 shares of the casino operator’s stock worth $80,591,000 after buying an additional 38,160 shares in the last quarter. 68.87% of the stock is currently owned by institutional investors and hedge funds.

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.