Zacks Investment Research upgraded shares of Wynn Resorts (NASDAQ:WYNN) from a hold rating to a buy rating in a research note published on Thursday morning. They currently have $182.00 price target on the casino operator’s stock.
According to Zacks, “Wynn Resorts posted solid fourth-quarter 2017 results with both the top and the bottom lines surpassing the Zacks Consensus Estimate. Both the top and the bottom lines improved year over year driven by strength in Macau operations (Wynn Palace and Wynn Macau) operations. Macau revenues increased owing to higher casino as well as non-casino revenues.Revenues from Las Vegas operations, however, decreased due lower casino and non-casino revenues. Wynn Resorts’ shares have outperformed its industry in the last year. Also, earnings estimates for the current quarter and year have gone up in the past 60 days. However, a high-debt burden and increased competition remain potent headwinds for the company.”
Several other research firms also recently issued reports on WYNN. Gabelli restated a buy rating and set a $230.00 price objective on shares of Wynn Resorts in a report on Tuesday, January 23rd. Citigroup set a $228.00 price objective on shares of Wynn Resorts and gave the stock a buy rating in a report on Tuesday, January 23rd. BidaskClub upgraded shares of Wynn Resorts from a hold rating to a buy rating in a report on Tuesday, January 23rd. Bank of America restated a hold rating and set a $200.00 price objective on shares of Wynn Resorts in a report on Tuesday, January 23rd. Finally, Stifel Nicolaus restated a hold rating and set a $201.00 price objective (up previously from $153.00) on shares of Wynn Resorts in a report on Tuesday, January 23rd. Eleven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $177.25.
Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Monday, January 22nd. The casino operator reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.07. Wynn Resorts had a net margin of 11.85% and a return on equity of 148.17%. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the previous year, the firm posted $0.50 EPS. The business’s revenue was up 29.9% compared to the same quarter last year. equities research analysts forecast that Wynn Resorts will post 7.62 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Thursday, February 15th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $2.00 dividend on an annualized basis and a yield of 1.22%. Wynn Resorts’s payout ratio is currently 50.38%.
Institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio grew its stake in Wynn Resorts by 28.6% during the second quarter. Public Employees Retirement System of Ohio now owns 46,525 shares of the casino operator’s stock worth $6,240,000 after buying an additional 10,335 shares during the last quarter. Toronto Dominion Bank grew its stake in Wynn Resorts by 26.0% during the second quarter. Toronto Dominion Bank now owns 27,068 shares of the casino operator’s stock worth $3,629,000 after buying an additional 5,593 shares during the last quarter. Gotham Asset Management LLC bought a new stake in Wynn Resorts during the second quarter worth about $528,000. Oakbrook Investments LLC grew its stake in Wynn Resorts by 78.3% during the fourth quarter. Oakbrook Investments LLC now owns 6,845 shares of the casino operator’s stock worth $1,154,000 after buying an additional 3,005 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in Wynn Resorts by 84.3% during the third quarter. Cubist Systematic Strategies LLC now owns 28,371 shares of the casino operator’s stock worth $4,225,000 after buying an additional 12,981 shares during the last quarter. 72.10% of the stock is currently owned by hedge funds and other institutional investors.
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Wynn Resorts Company Profile
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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