Wynn Resorts (NASDAQ:WYNN) Price Target Raised to $122.00

Wynn Resorts (NASDAQ:WYNN) had its target price hoisted by Susquehanna from $92.00 to $122.00 in a research report released on Friday, Benzinga reports. They currently have a positive rating on the casino operator’s stock.

A number of other equities research analysts have also recently issued reports on WYNN. StockNews.com cut Wynn Resorts from a buy rating to a hold rating in a research note on Tuesday, September 17th. Macquarie reiterated an outperform rating and issued a $126.00 target price on shares of Wynn Resorts in a research note on Wednesday, August 7th. UBS Group upgraded Wynn Resorts to a hold rating in a research note on Friday, August 23rd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Wynn Resorts from $131.00 to $122.00 and set a buy rating on the stock in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Wynn Resorts from $110.00 to $101.00 and set an overweight rating on the stock in a research note on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $115.20.

Wynn Resorts Price Performance

Wynn Resorts stock opened at $103.95 on Friday. The company has a market cap of $11.65 billion, a PE ratio of 14.24, a P/E/G ratio of 2.67 and a beta of 1.81. The company has a fifty day moving average price of $83.53 and a two-hundred day moving average price of $89.29. Wynn Resorts has a 12 month low of $71.63 and a 12 month 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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The company 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 quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.91 earnings per share. Equities research analysts anticipate that Wynn Resorts will post 5.44 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, August 19th. This represents a $1.00 annualized dividend and a yield of 0.96%. Wynn Resorts’s dividend payout ratio (DPR) is presently 13.70%.

Insider Buying and Selling at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,650 shares of Wynn Resorts stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the sale, the director now directly owns 5,689 shares in the company, valued at $447,894.97. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Wynn Resorts

Institutional investors have recently made changes to their positions in the company. Empirical Finance LLC lifted its holdings in shares of Wynn Resorts by 3.7% during the first quarter. Empirical Finance LLC now owns 3,220 shares of the casino operator’s stock worth $329,000 after buying an additional 114 shares during the last quarter. EntryPoint Capital LLC grew its position in Wynn Resorts by 7.2% in the first quarter. EntryPoint Capital LLC now owns 1,738 shares of the casino operator’s stock valued at $178,000 after acquiring an additional 117 shares during the period. Fifth Third Bancorp grew its position in Wynn Resorts by 8.5% in the second quarter. Fifth Third Bancorp now owns 1,536 shares of the casino operator’s stock valued at $137,000 after acquiring an additional 120 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in Wynn Resorts by 2.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,540 shares of the casino operator’s stock valued at $496,000 after acquiring an additional 149 shares during the period. Finally, Garde Capital Inc. grew its position in Wynn Resorts by 10.1% in the first quarter. Garde Capital Inc. now owns 1,737 shares of the casino operator’s stock valued at $177,000 after acquiring an additional 160 shares during the period. 68.87% of the stock is currently owned by institutional investors and hedge funds.

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.