Wynn Resorts (NASDAQ:WYNN) Price Target Raised to $145.00

by · The Cerbat Gem

Wynn Resorts (NASDAQ:WYNN – Free Report) had its price target increased by JPMorgan Chase & Co. from $138.00 to $145.00 in a research report report published on Monday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the casino operator’s stock.

A number of other analysts have also commented on the stock. Jefferies Financial Group boosted their price target on shares of Wynn Resorts from $146.00 to $155.00 and gave the company a “buy” rating in a research note on Monday. UBS Group upgraded shares of Wynn Resorts from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $101.00 to $147.00 in a report on Thursday, August 28th. Barclays boosted their target price on shares of Wynn Resorts from $127.00 to $141.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Wynn Resorts in a research report on Monday, December 1st. Finally, Zacks Research downgraded Wynn Resorts from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.15.

Get Our Latest Research Report on Wynn Resorts

Wynn Resorts Stock Performance

WYNN stock opened at $123.60 on Monday. The stock’s 50 day simple moving average is $123.38 and its 200 day simple moving average is $113.47. The company has a market cap of $12.85 billion, a P/E ratio of 27.65, a price-to-earnings-growth ratio of 8.52 and a beta of 1.10. Wynn Resorts has a fifty-two week low of $65.25 and a fifty-two week high of $134.72.

Wynn Resorts (NASDAQ:WYNN – Get Free Report) last announced its quarterly earnings data on Thursday, November 6th. The casino operator reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.23). Wynn Resorts had a net margin of 7.09% and a negative return on equity of 54.88%. The firm had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same period last year, the business posted $0.90 EPS. The company’s revenue was up 8.3% on a year-over-year basis. Equities analysts predict that Wynn Resorts will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Monday, November 17th were paid a $0.25 dividend. The ex-dividend date was Monday, November 17th. This represents a $1.00 annualized dividend and a yield of 0.8%. Wynn Resorts’s dividend payout ratio (DPR) is 22.37%.

Hedge Funds Weigh In On Wynn Resorts

A number of hedge funds and other institutional investors have recently modified their holdings of WYNN. Dagco Inc. purchased a new stake in shares of Wynn Resorts during the first quarter valued at approximately $25,000. AlphaQuest LLC bought a new position in Wynn Resorts in the 1st quarter valued at $25,000. MUFG Securities EMEA plc bought a new position in Wynn Resorts in the 2nd quarter valued at $25,000. Root Financial Partners LLC purchased a new stake in shares of Wynn Resorts during the 3rd quarter valued at $26,000. Finally, Manchester Capital Management LLC increased its position 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 valued at $30,000 after purchasing an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

About Wynn Resorts

(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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