Wynn Resorts, Limited (WYNN) PT Raised to $155.00

Wynn Resorts, Limited (NASDAQ:WYNN) had its price target boosted by Barclays PLC from $148.00 to $155.00 in a report released on Friday, October 27th, Marketbeat.com reports. The brokerage currently has an overweight rating on the casino operator’s stock.

WYNN has been the topic of several other research reports. Stifel Nicolaus reaffirmed a hold rating and set a $134.00 price target (up previously from $128.00) on shares of Wynn Resorts, Limited in a research report on Wednesday, July 26th. BidaskClub cut shares of Wynn Resorts, Limited from a buy rating to a hold rating in a report on Wednesday, July 19th. Bank of America Corporation reissued a neutral rating and issued a $140.00 target price (up previously from $135.00) on shares of Wynn Resorts, Limited in a report on Friday, July 21st. UBS AG cut shares of Wynn Resorts, Limited from a buy rating to a hold rating in a report on Wednesday, July 26th. Finally, Citigroup Inc. raised their target price on shares of Wynn Resorts, Limited to $161.00 and gave the stock a buy rating in a report on Monday, October 16th. Eleven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Wynn Resorts, Limited currently has an average rating of Buy and a consensus price target of $148.11.

Wynn Resorts, Limited (NASDAQ WYNN) opened at $154.03 on Friday. The company has a debt-to-equity ratio of 24.54, a current ratio of 1.72 and a quick ratio of 1.68. The firm has a market cap of $15,831.59, a PE ratio of 34.69 and a beta of 1.72. Wynn Resorts, Limited has a 12-month low of $82.51 and a 12-month high of $154.67.

Wynn Resorts, Limited (NASDAQ:WYNN) last issued its quarterly earnings results on Thursday, October 26th. The casino operator reported $1.52 EPS for the quarter, topping the consensus estimate of $1.28 by $0.24. Wynn Resorts, Limited had a net margin of 6.57% and a return on equity of 106.21%. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter last year, the company posted $0.74 earnings per share. The company’s quarterly revenue was up 45.3% compared to the same quarter last year. equities research analysts predict that Wynn Resorts, Limited will post 5.34 earnings per share for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Investors of record on Thursday, November 16th will be issued a $0.50 dividend. The ex-dividend date is Wednesday, November 15th. This represents a $2.00 annualized dividend and a yield of 1.30%. Wynn Resorts, Limited’s dividend payout ratio (DPR) is presently 55.25%.

In other news, President Matt Maddox sold 42,900 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $143.44, for a total transaction of $6,153,576.00. Following the transaction, the president now owns 350,586 shares in the company, valued at approximately $50,288,055.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Alvin V. Shoemaker sold 15,000 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $151.74, for a total transaction of $2,276,100.00. Following the transaction, the director now owns 19,162 shares in the company, valued at approximately $2,907,641.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,146 shares of company stock worth $14,671,932. Insiders own 13.20% of the company’s stock.

Several institutional investors have recently modified their holdings of WYNN. Vanguard Group Inc. boosted its position in Wynn Resorts, Limited by 3.1% in the second quarter. Vanguard Group Inc. now owns 8,264,810 shares of the casino operator’s stock valued at $1,108,476,000 after buying an additional 246,476 shares in the last quarter. Maverick Capital Ltd. boosted its position in Wynn Resorts, Limited by 36.9% in the second quarter. Maverick Capital Ltd. now owns 1,260,248 shares of the casino operator’s stock valued at $169,024,000 after buying an additional 339,550 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Wynn Resorts, Limited by 8.0% in the third quarter. Bank of New York Mellon Corp now owns 877,781 shares of the casino operator’s stock valued at $130,719,000 after buying an additional 65,335 shares in the last quarter. American Century Companies Inc. boosted its position in Wynn Resorts, Limited by 2.1% in the second quarter. American Century Companies Inc. now owns 875,121 shares of the casino operator’s stock valued at $117,371,000 after buying an additional 18,400 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Wynn Resorts, Limited by 128.1% in the second quarter. JPMorgan Chase & Co. now owns 819,007 shares of the casino operator’s stock valued at $109,845,000 after buying an additional 459,916 shares in the last quarter. Institutional investors and hedge funds own 70.67% of the company’s stock.

About Wynn Resorts, Limited

Wynn Resorts, Limited (Wynn Resorts) is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company’s segments include Macau Operations and Las Vegas Operations.

Analyst Recommendations for Wynn Resorts, Limited (NASDAQ:WYNN)

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