Wynn Resorts (NASDAQ:WYNN) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of Wynn Resorts (NASDAQ:WYNN) from an equal weight rating to an overweight rating in a research note published on Friday morning, Marketbeat.com reports. They currently have $104.00 price target on the casino operator’s stock, up from their previous price target of $97.00.

Several other analysts have also recently weighed in on the stock. Stifel Nicolaus decreased their price objective on shares of Wynn Resorts from $121.00 to $103.00 and set a buy rating on the stock in a research note on Friday, September 13th. StockNews.com cut shares of Wynn Resorts from a buy rating to a hold rating in a research note on Tuesday, September 17th. UBS Group upgraded shares of Wynn Resorts to a hold rating in a research report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Wynn Resorts from $131.00 to $122.00 and set a buy rating on the stock in a research report on Wednesday, August 7th. Finally, Seaport Res Ptn upgraded shares of Wynn Resorts from a hold rating to a strong-buy rating in a research report on Thursday, May 30th. Four investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $114.20.

Wynn Resorts Stock Performance

NASDAQ:WYNN opened at $97.62 on Friday. The company has a market cap of $10.94 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 2.17 and a beta of 1.80. The firm’s 50-day moving average is $78.63 and its 200-day moving average is $89.09. Wynn Resorts has a 52-week low of $71.63 and a 52-week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results 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). The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The business’s revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.91 EPS. Equities analysts predict that Wynn Resorts will post 5.44 EPS for the current year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.00 annualized dividend and a yield of 1.02%. Wynn Resorts’s dividend payout ratio is presently 13.70%.

Insider Buying and Selling

In other news, Director Patricia Mulroy sold 2,650 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the transaction, the director now owns 5,689 shares in the company, valued at approximately $447,894.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.52% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. grew its stake in shares of Wynn Resorts by 3.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,192 shares of the casino operator’s stock worth $929,000 after acquiring an additional 336 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Wynn Resorts by 15.1% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 20,669 shares of the casino operator’s stock worth $1,883,000 after acquiring an additional 2,707 shares in the last quarter. Advisory Services Network LLC grew its stake in shares of Wynn Resorts by 285.4% in the 4th quarter. Advisory Services Network LLC now owns 5,885 shares of the casino operator’s stock worth $536,000 after acquiring an additional 4,358 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of Wynn Resorts by 10.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 26,559 shares of the casino operator’s stock worth $2,420,000 after acquiring an additional 2,425 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of Wynn Resorts by 199.6% in the 4th quarter. Parallel Advisors LLC now owns 776 shares of the casino operator’s stock worth $71,000 after acquiring an additional 517 shares in the last quarter. Institutional investors and hedge funds own 68.87% of the company’s stock.

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.