Wynn Resorts (NASDAQ:WYNN) Sets New 1-Year High on Analyst Upgrade

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Wynn Resorts, Limited (NASDAQ:WYNNGet Free Report) shares hit a new 52-week high on Thursday after Stifel Nicolaus raised their price target on the stock from $130.00 to $145.00. Stifel Nicolaus currently has a buy rating on the stock. Wynn Resorts traded as high as $129.01 and last traded at $128.68, with a volume of 1947914 shares changing hands. The stock had previously closed at $123.28.

A number of other equities research analysts have also weighed in on the stock. Jefferies Financial Group lifted their price objective on shares of Wynn Resorts from $130.00 to $133.00 and gave the company a “buy” rating in a report on Monday, August 11th. JPMorgan Chase & Co. assumed coverage on shares of Wynn Resorts in a report on Monday, June 23rd. They set an “overweight” rating and a $109.00 price objective for the company. Macquarie boosted their price target on shares of Wynn Resorts from $110.00 to $124.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Barclays boosted their price target on shares of Wynn Resorts from $101.00 to $127.00 and gave the company an “overweight” rating in a report on Friday, July 18th. Finally, Argus upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a report on Wednesday, September 3rd. Fourteen analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $125.47.

Get Our Latest Stock Report on WYNN

Insider Buying and Selling at Wynn Resorts

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In related news, Director Patricia Mulroy sold 4,438 shares of Wynn Resorts stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total value of $554,750.00. Following the completion of the transaction, the director owned 3,066 shares in the company, valued at approximately $383,250. The trade was a 59.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Wynn Resorts

Large investors have recently bought and sold shares of the company. MUFG Securities EMEA plc acquired a new position in shares of Wynn Resorts during the 2nd quarter worth $25,000. AlphaQuest LLC acquired a new position in shares of Wynn Resorts during the 1st quarter worth $25,000. Dagco Inc. acquired a new position in shares of Wynn Resorts during the 1st quarter worth $25,000. Global X Japan Co. Ltd. grew its stake in shares of Wynn Resorts by 120.7% during the 1st quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator’s stock worth $27,000 after purchasing an additional 175 shares during the period. Finally, Manchester Capital Management LLC grew its stake in shares of Wynn Resorts by 1,500.0% during the 2nd quarter. Manchester Capital Management LLC now owns 320 shares of the casino operator’s stock worth $30,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wynn Resorts Trading Up 0.7%

The firm has a market capitalization of $13.47 billion, a price-to-earnings ratio of 38.90, a PEG ratio of 6.55 and a beta of 1.37. The stock’s 50 day moving average price is $115.10 and its two-hundred day moving average price is $96.62.

Wynn Resorts (NASDAQ:WYNNGet Free Report) last issued its quarterly earnings data on Thursday, August 7th. The casino operator reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.11). The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. Wynn Resorts’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $1.12 earnings per share. On average, sell-side analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were issued a $0.25 dividend. The ex-dividend date was Monday, August 18th. This represents a $1.00 annualized dividend and a yield of 0.8%. Wynn Resorts’s dividend payout ratio (DPR) is presently 30.03%.

Wynn Resorts Company Profile

(Get Free Report)

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.

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