Wynn Resorts, Limited (NASDAQ:WYNN) Given Average Recommendation of "Buy" by Brokerages

Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report) has received a consensus rating of "Buy" from the fourteen ratings firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $119.58.

A number of equities research analysts have weighed in on WYNN shares. Morgan Stanley decreased their price target on shares of Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating on the stock in a research note on Monday, February 24th. Barclays upped their target price on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. StockNews.com downgraded Wynn Resorts from a "buy" rating to a "hold" rating in a report on Wednesday, March 12th. Mizuho increased their target price on Wynn Resorts from $118.00 to $132.00 and gave the stock an "outperform" rating in a report on Friday, February 14th. Finally, Stifel Nicolaus raised their target price on Wynn Resorts from $123.00 to $128.00 and gave the stock a "buy" rating in a research report on Friday, February 14th.

Insider Activity

In other Wynn Resorts news, Director Philip G. Satre bought 22,200 shares of Wynn Resorts stock in a transaction dated Tuesday, February 18th. The shares were bought at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the purchase, the director now owns 34,195 shares of the company's stock, valued at $3,152,095.10. This trade represents a 185.08 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Tilman J. Fertitta purchased 5,025 shares of the company's stock in a transaction that occurred on Friday, March 21st. The shares were acquired at an average cost of $80.99 per share, with a total value of $406,974.75. Following the completion of the purchase, the insider now owns 10,905,025 shares of the company's stock, valued at $883,197,974.75. The trade was a 0.05 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 438,700 shares of company stock valued at $31,300,943 over the last three months. 0.52% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Brandywine Global Investment Management LLC bought a new stake in Wynn Resorts in the fourth quarter valued at about $5,216,000. Alliancebernstein L.P. increased its stake in shares of Wynn Resorts by 12.4% in the 4th quarter. Alliancebernstein L.P. now owns 122,760 shares of the casino operator's stock valued at $10,577,000 after acquiring an additional 13,553 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Wynn Resorts in the 4th quarter valued at approximately $75,872,000. Dynamic Technology Lab Private Ltd bought a new position in Wynn Resorts during the 4th quarter worth approximately $2,270,000. Finally, Empirical Asset Management LLC acquired a new position in Wynn Resorts during the fourth quarter valued at approximately $903,000. Institutional investors and hedge funds own 88.64% of the company's stock.

Wynn Resorts Stock Performance

Shares of NASDAQ:WYNN traded up $1.04 on Wednesday, hitting $74.77. 1,559,528 shares of the company were exchanged, compared to its average volume of 2,464,838. The company's 50 day moving average price is $82.72 and its two-hundred day moving average price is $87.98. Wynn Resorts has a one year low of $65.25 and a one year high of $107.81. The firm has a market capitalization of $7.94 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 2.35 and a beta of 1.53.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. Research analysts predict that Wynn Resorts will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date was Monday, February 24th. Wynn Resorts's dividend payout ratio is presently 23.75%.

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.