Stifel Nicolaus reissued their hold rating on shares of Wynn Resorts, Limited (NASDAQ:WYNN) in a research report report published on Wednesday, July 26th. Stifel Nicolaus currently has a $134.00 target price on the casino operator’s stock, up from their previous target price of $128.00.
Several other research analysts have also commented on the stock. Union Gaming Research upgraded shares of Wynn Resorts, Limited from a hold rating to a buy rating in a research note on Wednesday, April 26th. Zacks Investment Research upgraded shares of Wynn Resorts, Limited from a hold rating to a strong-buy rating and set a $144.00 price target on the stock in a research note on Friday, April 28th. Instinet restated a neutral rating on shares of Wynn Resorts, Limited in a research note on Monday, July 17th. Aegis reaffirmed a buy rating and issued a $132.00 price objective (up from $121.00) on shares of Wynn Resorts, Limited in a report on Saturday, April 29th. Finally, Sanford C. Bernstein reaffirmed an outperform rating on shares of Wynn Resorts, Limited in a report on Wednesday, May 24th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. The stock has an average rating of Hold and a consensus price target of $125.62.
Shares of Wynn Resorts, Limited (NASDAQ:WYNN) opened at 127.51 on Wednesday. Wynn Resorts, Limited has a one year low of $82.51 and a one year high of $139.67. The firm has a 50 day moving average price of $133.80 and a 200-day moving average price of $117.30. The firm has a market cap of $13.00 billion, a P/E ratio of 47.72 and a beta of 1.72.
Wynn Resorts, Limited (NASDAQ:WYNN) last posted its quarterly earnings data on Tuesday, July 25th. The casino operator reported $1.18 EPS for the quarter, topping the consensus estimate of $1.16 by $0.02. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.47 billion. Wynn Resorts, Limited had a net margin of 5.02% and a return on equity of 205.76%. Wynn Resorts, Limited’s revenue was up 44.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.07 EPS. Analysts forecast that Wynn Resorts, Limited will post $4.92 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 22nd. Stockholders of record on Thursday, August 10th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Tuesday, August 8th. Wynn Resorts, Limited’s payout ratio is 74.91%.
In related news, President Matt Maddox sold 44,309 shares of Wynn Resorts, Limited stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $134.35, for a total value of $5,952,914.15. Following the completion of the transaction, the president now owns 344,895 shares in the company, valued at $46,336,643.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John J. Hagenbuch sold 1,150 shares of Wynn Resorts, Limited stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $128.40, for a total transaction of $147,660.00. Following the completion of the transaction, the director now owns 11,662 shares of the company’s stock, valued at approximately $1,497,400.80. The disclosure for this sale can be found here. In the last three months, insiders sold 73,309 shares of company stock valued at $9,693,891. Insiders own 13.20% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its stake in Wynn Resorts, Limited by 83.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,017 shares of the casino operator’s stock worth $117,000 after buying an additional 462 shares during the last quarter. FNY Partners Fund LP boosted its stake in Wynn Resorts, Limited by 5,400.0% in the first quarter. FNY Partners Fund LP now owns 1,100 shares of the casino operator’s stock worth $126,000 after buying an additional 1,080 shares during the last quarter. Mercer Capital Advisers Inc. bought a new stake in Wynn Resorts, Limited during the first quarter worth $143,000. Reilly Financial Advisors LLC boosted its stake in Wynn Resorts, Limited by 1,000.0% in the second quarter. Reilly Financial Advisors LLC now owns 1,100 shares of the casino operator’s stock worth $148,000 after buying an additional 1,000 shares during the last quarter. Finally, Financial Architects Inc boosted its stake in Wynn Resorts, Limited by 4.2% in the second quarter. Financial Architects Inc now owns 1,250 shares of the casino operator’s stock worth $168,000 after buying an additional 50 shares during the last quarter. 75.33% of the stock is currently owned by institutional investors.
About Wynn Resorts, Limited
Wynn Resorts, Limited (Wynn Resorts) is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company’s segments include Macau Operations and Las Vegas Operations.
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