Wynn Resorts, Limited (NASDAQ:WYNN) Given Consensus Rating of "Buy" by Brokerages

Shares of Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report) have been given a consensus rating of "Buy" by the fourteen brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $119.58.

Several brokerages have commented on WYNN. Morgan Stanley dropped their price target on Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating on the stock in a research report on Monday, February 24th. Macquarie reissued an "outperform" rating and issued a $115.00 price target on shares of Wynn Resorts in a report on Friday, February 14th. Barclays boosted their price objective on shares of Wynn Resorts from $115.00 to $116.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Stifel Nicolaus increased their target price on shares of Wynn Resorts from $123.00 to $128.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Finally, StockNews.com lowered Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, March 12th.

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Insider Activity

In other Wynn Resorts news, Director Philip G. Satre acquired 22,200 shares of Wynn Resorts stock in a transaction on 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 completion of the purchase, the director now owns 34,195 shares in the company, valued at $3,152,095.10. This trade represents a 185.08 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Tilman J. Fertitta bought 11,475 shares of the stock in a transaction dated Monday, March 24th. The stock was acquired at an average price of $84.93 per share, with a total value of $974,571.75. Following the completion of the purchase, the insider now owns 12,600,000 shares of the company's stock, valued at $1,070,118,000. This represents a 0.09 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 38,700 shares of company stock worth $3,427,943. Insiders own 0.52% of the company's stock.

Hedge Funds Weigh In On Wynn Resorts

A number of large investors have recently modified their holdings of the stock. Fisher Asset Management LLC increased its stake in shares of Wynn Resorts by 70.7% in the 3rd quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator's stock valued at $380,821,000 after buying an additional 1,644,965 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Wynn Resorts by 18.4% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator's stock valued at $269,308,000 after acquiring an additional 485,204 shares during the last quarter. Geode Capital Management LLC increased its position in Wynn Resorts by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 2,433,052 shares of the casino operator's stock worth $209,120,000 after purchasing an additional 26,792 shares during the period. Jefferies Financial Group Inc. lifted its position in Wynn Resorts by 9.0% during the 4th quarter. Jefferies Financial Group Inc. now owns 1,683,600 shares of the casino operator's stock valued at $145,059,000 after purchasing an additional 139,270 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of Wynn Resorts by 16.4% in the 4th quarter. Renaissance Technologies LLC now owns 1,616,756 shares of the casino operator's stock valued at $139,300,000 after purchasing an additional 228,000 shares during the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Wynn Resorts Stock Performance

Shares of WYNN traded up $1.16 during trading hours on Friday, hitting $86.03. 4,475,328 shares of the company were exchanged, compared to its average volume of 2,289,260. The company has a market cap of $9.13 billion, a PE ratio of 20.43, a PEG ratio of 2.35 and a beta of 1.77. The firm's 50 day moving average is $85.78 and its 200-day moving average is $89.06. Wynn Resorts has a 52 week low of $71.63 and a 52 week high of $110.38.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 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 company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.78 billion. As a group, equities analysts forecast that Wynn Resorts will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, February 24th. This represents a $1.00 annualized dividend and a yield of 1.16%. Wynn Resorts's dividend payout ratio is 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.