Jefferies Financial Group Trims Wynn Resorts (NASDAQ:WYNN) Target Price to $96.00

Wynn Resorts (NASDAQ:WYNN) had its price target decreased by Jefferies Financial Group from $111.00 to $96.00 in a research report report published on Thursday morning, Benzinga reports. Jefferies Financial Group currently has a hold rating on the casino operator’s stock.

WYNN has been the subject of a number of other research reports. Barclays upped their price target on Wynn Resorts from $124.00 to $128.00 and gave the stock an overweight rating in a research report on Thursday, May 9th. StockNews.com cut Wynn Resorts from a buy rating to a hold rating in a report on Wednesday. Citigroup upped their price objective on shares of Wynn Resorts from $132.00 to $138.00 and gave the company a buy rating in a report on Wednesday, May 8th. Morgan Stanley increased their target price on Wynn Resorts from $107.00 to $114.00 and gave the stock an equal weight rating in a research note on Tuesday, April 9th. Finally, Argus raised shares of Wynn Resorts from a hold rating to a buy rating and set a $110.00 price objective for the company in a report on Thursday, May 23rd. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Wynn Resorts currently has an average rating of Moderate Buy and a consensus price target of $119.53.

Wynn Resorts Price Performance

Wynn Resorts stock opened at $85.83 on Thursday. The company’s 50 day simple moving average is $91.81 and its 200 day simple moving average is $96.58. The firm has a market capitalization of $9.62 billion, a price-to-earnings ratio of 11.76 and a beta of 1.82. Wynn Resorts has a fifty-two week low of $81.65 and a fifty-two week high of $112.25.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Tuesday, May 7th. The casino operator reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.16. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Wynn Resorts had a negative return on equity of 46.04% and a net margin of 12.36%. Wynn Resorts’s revenue for the quarter was up 30.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.29 EPS. As a group, analysts predict that Wynn Resorts will post 5.63 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.00 dividend on an annualized basis and a yield of 1.17%. Wynn Resorts’s dividend payout ratio is currently 13.70%.

Insider Buying and Selling

In other Wynn Resorts news, Director Betsy S. Atkins sold 2,446 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $94.39, for a total value of $230,877.94. Following the sale, the director now owns 9,226 shares in the company, valued at approximately $870,842.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.52% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Wynn Resorts

Institutional investors have recently modified their holdings of the company. Blue Trust Inc. boosted its position in shares of Wynn Resorts by 3,000.0% during the 4th quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock valued at $25,000 after purchasing an additional 270 shares in the last quarter. ICA Group Wealth Management LLC acquired a new position in shares of Wynn Resorts during the fourth quarter valued at about $27,000. Sunbelt Securities Inc. lifted its holdings in shares of Wynn Resorts by 4,285.7% in the third quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock valued at $28,000 after purchasing an additional 300 shares in the last quarter. Register Financial Advisors LLC purchased a new position in Wynn Resorts during the 1st quarter worth $37,000. Finally, GAMMA Investing LLC bought a new stake in Wynn Resorts in the 4th quarter worth about $38,000. 68.87% of the stock is owned by institutional investors.

Wynn Resorts Company Profile

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.