Wynn Resorts (NASDAQ:WYNN) Given New $116.00 Price Target at Barclays

Wynn Resorts (NASDAQ:WYNN - Free Report) had its target price hoisted by Barclays from $115.00 to $116.00 in a report released on Friday,Benzinga reports. The firm currently has an overweight rating on the casino operator's stock.

A number of other research analysts have also commented on WYNN. JPMorgan Chase & Co. increased their price objective on Wynn Resorts from $101.00 to $113.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Wells Fargo & Company dropped their price target on shares of Wynn Resorts from $125.00 to $122.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 5th. Mizuho upped their price objective on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an "outperform" rating in a report on Friday. Morgan Stanley raised their target price on shares of Wynn Resorts from $112.00 to $115.00 and gave the company an "overweight" rating in a research note on Tuesday, October 22nd. Finally, Jefferies Financial Group cut their target price on shares of Wynn Resorts from $109.00 to $105.00 and set a "hold" rating for the company in a research report on Friday, January 3rd. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $120.58.

Wynn Resorts Stock Up 2.7 %

WYNN stock traded up $2.39 during trading hours on Friday, hitting $91.21. The company's stock had a trading volume of 5,185,612 shares, compared to its average volume of 2,918,731. The stock has a 50 day moving average price of $85.45 and a two-hundred day moving average price of $87.06. Wynn Resorts has a 12 month low of $71.63 and a 12 month high of $110.38. The company has a market capitalization of $10.02 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 2.32 and a beta of 1.76.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.78 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. Sell-side analysts expect that Wynn Resorts will post 4.69 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.00 annualized dividend and a yield of 1.10%. Wynn Resorts's dividend payout ratio is 12.33%.

Institutional Trading of Wynn Resorts

Hedge funds have recently modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of 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 purchasing an additional 485,204 shares in the last quarter. Worldquant Millennium Advisors LLC bought a new position in shares of Wynn Resorts during the 4th quarter worth approximately $14,413,000. Woodline Partners LP bought a new position in shares of Wynn Resorts during the 4th quarter worth approximately $479,000. Twinbeech Capital LP acquired a new stake in Wynn Resorts in the 4th quarter valued at $363,000. Finally, Snowden Capital Advisors LLC raised its stake in Wynn Resorts by 5.6% during the fourth quarter. Snowden Capital Advisors LLC now owns 2,589 shares of the casino operator's stock worth $223,000 after acquiring an additional 138 shares in the last quarter. Institutional investors own 88.64% of the company's stock.

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.