Wynn Resorts (NASDAQ:WYNN) Given New $138.00 Price Target at Stifel Nicolaus

Wynn Resorts (NASDAQ:WYNN) had its price target decreased by Stifel Nicolaus from $139.00 to $138.00 in a research report released on Thursday, Stock Target Advisor reports. Stifel Nicolaus currently has a buy rating on the casino operator’s stock.

Several other equities analysts also recently weighed in on the company. Jefferies Financial Group lifted their target price on Wynn Resorts from $160.00 to $165.00 and gave the company a buy rating in a research report on Thursday, July 11th. Standpoint Research assumed coverage on Wynn Resorts in a research report on Wednesday, September 4th. They set a buy rating on the stock. Barclays lowered their target price on Wynn Resorts from $157.00 to $150.00 and set an overweight rating on the stock in a research report on Thursday, September 12th. Goldman Sachs Group upgraded Wynn Resorts from a neutral rating to a buy rating and lifted their target price for the company from $140.00 to $155.00 in a research report on Tuesday, September 24th. Finally, Deutsche Bank set a $150.00 target price on Wynn Resorts and gave the company a buy rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $137.59.

WYNN stock traded up $0.98 on Thursday, reaching $126.47. 1,396,900 shares of the company traded hands, compared to its average volume of 2,073,250. The company has a market cap of $13.62 billion, a P/E ratio of 19.34, a price-to-earnings-growth ratio of 2.43 and a beta of 2.07. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.00 and a quick ratio of 0.95. The firm has a fifty day simple moving average of $114.45 and a 200-day simple moving average of $120.37. Wynn Resorts has a one year low of $90.06 and a one year high of $151.50.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Wednesday, November 6th. The casino operator reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.73). The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Wynn Resorts had a net margin of 12.41% and a return on equity of 34.98%. Wynn Resorts’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.68 earnings per share. On average, sell-side analysts forecast that Wynn Resorts will post 5.21 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, November 14th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $4.00 dividend on an annualized basis and a yield of 3.16%. Wynn Resorts’s dividend payout ratio is presently 61.16%.

In other Wynn Resorts news, CEO Matt Maddox sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $110.24, for a total transaction of $2,756,000.00. Following the sale, the chief executive officer now directly owns 432,731 shares of the company’s stock, valued at $47,704,265.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 75,000 shares of company stock worth $8,750,250. Insiders own 0.58% of the company’s stock.

A number of large investors have recently bought and sold shares of WYNN. Egerton Capital UK LLP raised its holdings in Wynn Resorts by 51.4% during the second quarter. Egerton Capital UK LLP now owns 3,487,638 shares of the casino operator’s stock valued at $432,432,000 after acquiring an additional 1,184,251 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Wynn Resorts by 9.9% in the second quarter. Price T Rowe Associates Inc. MD now owns 8,857,209 shares of the casino operator’s stock worth $1,098,205,000 after purchasing an additional 801,270 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Wynn Resorts in the second quarter worth about $54,333,000. Hoplite Capital Management L.P. bought a new stake in shares of Wynn Resorts in the second quarter worth about $29,677,000. Finally, Polaris Greystone Financial Group LLC bought a new stake in shares of Wynn Resorts in the second quarter worth about $27,823,000. 75.66% of the stock is currently owned by institutional investors and hedge funds.

Wynn Resorts Company Profile

Wynn Resorts, Limited owns and operates destination casino resorts. As of February 20, 2019, the company's Wynn Palace segment had approximately 424,000 square feet of casino space, which offered 320 table games and 1,041 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas; 13 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities comprising a gondola ride, health club, spa, salon, and pool; and public attractions, such as performance lake and floral art displays.

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Analyst Recommendations for Wynn Resorts (NASDAQ:WYNN)

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