Brokerages Set Wynn Resorts, Limited (NASDAQ:WYNN) Target Price at $119.58

Wynn Resorts, Limited (NASDAQ:WYNN) has been given an average recommendation of “Buy” by the fourteen ratings firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $119.58.

Several analysts recently issued reports on the stock. StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Stifel Nicolaus raised their price target on Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Macquarie reissued an “outperform” rating and set a $115.00 price objective on shares of Wynn Resorts in a research report on Friday, February 14th. Morgan Stanley lowered their target price on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. Finally, Barclays upped their price target on Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a report on Friday, February 14th.

Insider Buying and Selling

In other news, Director Philip G. Satre bought 22,200 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the transaction, the director now directly owns 34,195 shares of the company’s stock, valued at $3,152,095.10. This trade represents a 185.08 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Tilman J. Fertitta purchased 11,475 shares of Wynn Resorts stock in a transaction on Monday, March 24th. The stock was purchased at an average price of $84.93 per share, for a total transaction of $974,571.75. Following the completion of the transaction, the insider now owns 12,600,000 shares of the company’s stock, valued at approximately $1,070,118,000. This represents a 0.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 38,700 shares of company stock valued at $3,427,943 over the last quarter. Corporate insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Thrivent Financial for Lutherans raised its position in Wynn Resorts by 49.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 11,683 shares of the casino operator’s stock valued at $1,120,000 after purchasing an additional 3,850 shares during the last quarter. Prospera Financial Services Inc raised its stake in shares of Wynn Resorts by 4.1% in the third quarter. Prospera Financial Services Inc now owns 4,616 shares of the casino operator’s stock worth $443,000 after acquiring an additional 181 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Wynn Resorts during the third quarter worth approximately $202,000. Eagle Asset Management Inc. bought a new stake in shares of Wynn Resorts during the third quarter valued at approximately $58,486,000. Finally, Cerity Partners LLC increased its holdings in shares of Wynn Resorts by 7.0% in the third quarter. Cerity Partners LLC now owns 53,711 shares of the casino operator’s stock valued at $5,150,000 after purchasing an additional 3,521 shares in the last quarter. Institutional investors own 88.64% of the company’s stock.

Wynn Resorts Price Performance

NASDAQ WYNN opened at $82.33 on Friday. The firm has a market cap of $8.74 billion, a P/E ratio of 19.56, a price-to-earnings-growth ratio of 2.35 and a beta of 1.77. The stock’s 50-day moving average is $85.96 and its two-hundred day moving average is $89.12. Wynn Resorts has a fifty-two week low of $71.63 and a fifty-two week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, topping the consensus estimate of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.78 billion. On average, equities analysts expect that Wynn Resorts will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a $0.25 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a yield of 1.21%. Wynn Resorts’s payout ratio is currently 23.75%.

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.