Macquarie Reaffirms Outperform Rating for Wynn Resorts (NASDAQ:WYNN)

Macquarie reissued their outperform rating on shares of Wynn Resorts (NASDAQ:WYNN) in a research report report published on Wednesday morning, Benzinga reports. They currently have a $126.00 target price on the casino operator’s stock.

Several other equities research analysts have also recently weighed in on the company. Stifel Nicolaus upped their target price on Wynn Resorts from $135.00 to $138.00 and gave the stock a buy rating in a report on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft lowered their target price on Wynn Resorts from $132.00 to $131.00 and set a buy rating for the company in a report on Thursday, July 11th. Citigroup upped their price objective on Wynn Resorts from $132.00 to $138.00 and gave the stock a buy rating in a research note on Wednesday, May 8th. Morgan Stanley decreased their price objective on Wynn Resorts from $115.00 to $107.00 and set an equal weight rating for the company in a research note on Friday, July 12th. Finally, Seaport Res Ptn upgraded Wynn Resorts from a hold rating to a strong-buy rating in a research note on Thursday, May 30th. Five 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. According to MarketBeat.com, Wynn Resorts has an average rating of Moderate Buy and a consensus target price of $116.73.

Wynn Resorts Stock Down 2.6 %

WYNN traded down $2.02 during trading hours on Wednesday, reaching $74.63. 2,417,886 shares of the company’s stock traded hands, compared to its average volume of 1,904,753. The firm has a 50-day moving average price of $85.68 and a 200 day moving average price of $94.76. Wynn Resorts has a 52-week low of $71.63 and a 52-week high of $110.38. The firm has a market capitalization of $8.36 billion, a PE ratio of 10.22 and a beta of 1.82.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). Wynn Resorts had a net margin of 12.22% and a negative return on equity of 50.07%. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the previous year, the firm earned $0.91 EPS. Wynn Resorts’s revenue was up 8.4% compared to the same quarter last year. Equities analysts predict that Wynn Resorts will post 5.62 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Monday, August 19th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Monday, August 19th. Wynn Resorts’s dividend payout ratio is presently 13.70%.

Insider Activity

In other news, Director Betsy S. Atkins sold 2,446 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $94.39, for a total value of $230,877.94. Following the sale, the director now owns 9,226 shares in the company, valued at $870,842.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.52% of the company’s stock.

Institutional Trading of Wynn Resorts

A number of hedge funds have recently modified their holdings of WYNN. Arizona State Retirement System boosted its stake in shares of Wynn Resorts by 0.9% in the fourth quarter. Arizona State Retirement System now owns 28,182 shares of the casino operator’s stock worth $2,568,000 after buying an additional 241 shares during the last quarter. International Assets Investment Management LLC boosted its position in Wynn Resorts by 4,067.4% during the fourth quarter. International Assets Investment Management LLC now owns 7,668 shares of the casino operator’s stock worth $699,000 after purchasing an additional 7,484 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Wynn Resorts by 0.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 27,904 shares of the casino operator’s stock worth $2,542,000 after purchasing an additional 109 shares in the last quarter. Cerity Partners LLC boosted its position in Wynn Resorts by 996.0% during the fourth quarter. Cerity Partners LLC now owns 27,445 shares of the casino operator’s stock worth $2,500,000 after purchasing an additional 24,941 shares in the last quarter. Finally, Friedenthal Financial purchased a new position in Wynn Resorts during the fourth quarter worth approximately $46,000. Hedge funds and other institutional investors own 68.87% 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.