Wynn Resorts (NASDAQ:WYNN) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Wynn Resorts (NASDAQ:WYNN - Free Report) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning.

Several other research firms have also recently weighed in on WYNN. Morgan Stanley increased their price target 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. Barclays increased their price target 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. Jefferies Financial Group raised shares of Wynn Resorts from a "hold" rating to a "buy" rating and increased their price target for the company from $105.00 to $118.00 in a research note on Tuesday. Macquarie reissued an "outperform" rating and issued a $115.00 price target on shares of Wynn Resorts in a research note on Friday, February 14th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Wynn Resorts from $122.00 to $118.00 and set a "buy" rating on the stock in a report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $120.58.

Wynn Resorts Stock Down 2.9 %

Shares of Wynn Resorts stock traded down $2.71 during trading hours on Tuesday, reaching $90.76. 2,961,032 shares of the company's stock were exchanged, compared to its average volume of 2,922,238. Wynn Resorts has a 1 year low of $71.63 and a 1 year high of $110.38. The company has a market capitalization of $9.66 billion, a P/E ratio of 21.56, a price-to-earnings-growth ratio of 2.32 and a beta of 1.76. The business has a fifty day moving average of $85.31 and a two-hundred day moving average of $87.26.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $1.78 billion. As a group, research analysts predict that Wynn Resorts will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The firm also recently announced 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. This represents a $1.00 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Monday, February 24th. Wynn Resorts's payout ratio is currently 23.75%.

Insider Buying and Selling

In other Wynn Resorts news, Director Philip G. Satre bought 22,200 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average cost of $92.18 per share, with a total value of $2,046,396.00. Following the purchase, the director now directly owns 34,195 shares in the company, valued at approximately $3,152,095.10. This represents a 185.08 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.52% of the stock is owned by insiders.

Hedge Funds Weigh In On Wynn Resorts

Hedge funds and other institutional investors have recently made changes to their positions in the stock. New Wave Wealth Advisors LLC purchased a new position in shares of Wynn Resorts in the 4th quarter valued at about $26,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Wynn Resorts in the 3rd quarter valued at about $31,000. SBI Securities Co. Ltd. purchased a new position in shares of Wynn Resorts in the 4th quarter valued at about $36,000. Spire Wealth Management increased its holdings in Wynn Resorts by 116.4% in the fourth quarter. Spire Wealth Management now owns 435 shares of the casino operator's stock valued at $37,000 after buying an additional 234 shares during the last quarter. Finally, Canada Post Corp Registered Pension Plan acquired a new stake in Wynn Resorts in the fourth quarter valued at $45,000. Hedge funds and other 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.