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

Shares of Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report) have been given an average recommendation of "Moderate Buy" by the fourteen analysts that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $117.23.

Several research analysts have recently issued reports on the stock. Jefferies Financial Group dropped their price objective on shares of Wynn Resorts from $109.00 to $105.00 and set a "hold" rating on the stock in a report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft lowered their price target on Wynn Resorts from $122.00 to $118.00 and set a "buy" rating on the stock in a research note on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price objective on Wynn Resorts from $101.00 to $113.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Macquarie restated an "outperform" rating and issued a $120.00 target price on shares of Wynn Resorts in a research note on Tuesday, November 5th. Finally, Barclays reduced their target price on Wynn Resorts from $125.00 to $119.00 and set an "overweight" rating for the company in a research report on Tuesday, November 5th.

Wynn Resorts Price Performance

Shares of NASDAQ WYNN traded down $2.93 during trading hours on Friday, hitting $86.68. 1,709,245 shares of the company's stock were exchanged, compared to its average volume of 2,265,587. The stock has a market capitalization of $9.52 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 2.42 and a beta of 1.77. The company's 50-day moving average price is $88.21 and its 200-day moving average price is $86.93. Wynn Resorts has a 1-year low of $71.63 and a 1-year high of $110.38.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.11). Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the company posted $0.99 earnings per share. The firm's revenue was up 1.3% compared to the same quarter last year. On average, research analysts expect that Wynn Resorts will post 4.69 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Friday, November 15th. Wynn Resorts's dividend payout ratio (DPR) is currently 12.33%.

Institutional Investors Weigh In On Wynn Resorts

A number of hedge funds and other institutional investors have recently bought and sold shares of WYNN. Public Sector Pension Investment Board bought a new stake in shares of Wynn Resorts during the second quarter worth $258,000. Marshall Wace LLP bought a new stake in Wynn Resorts during the 2nd quarter worth about $1,869,000. Mackenzie Financial Corp lifted its position in Wynn Resorts by 312.1% during the 2nd quarter. Mackenzie Financial Corp now owns 15,752 shares of the casino operator's stock valued at $1,410,000 after purchasing an additional 11,930 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Wynn Resorts by 32.7% in the 2nd quarter. NewEdge Advisors LLC now owns 16,926 shares of the casino operator's stock valued at $1,515,000 after purchasing an additional 4,167 shares during the last quarter. Finally, Truist Financial Corp grew its position in shares of Wynn Resorts by 43.7% during the 2nd quarter. Truist Financial Corp now owns 22,057 shares of the casino operator's stock worth $1,974,000 after buying an additional 6,711 shares during the period. 88.64% of the stock is 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.