Wynn Resorts (NASDAQ:WYNN) Stock Price Up 4.4% – Time to Buy?

by · The Markets Daily

Shares of Wynn Resorts, Limited (NASDAQ:WYNNGet Free Report) were up 4.4% during trading on Monday . The stock traded as high as $134.20 and last traded at $134.3780. Approximately 669,984 shares traded hands during trading, a decline of 70% from the average daily volume of 2,241,303 shares. The stock had previously closed at $128.68.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. 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 research report on Wednesday, September 3rd. Wells Fargo & Company assumed coverage on shares of Wynn Resorts in a research note on Tuesday, November 18th. They set an “overweight” rating and a $151.00 price objective on the stock. Barclays boosted their target price on shares of Wynn Resorts from $127.00 to $141.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Stifel Nicolaus lifted their price objective on shares of Wynn Resorts from $130.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, September 18th. Finally, JPMorgan Chase & Co. boosted their price target on Wynn Resorts from $136.00 to $138.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Wynn Resorts currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.31.

Get Our Latest Analysis on WYNN

Wynn Resorts Price Performance

The company has a market cap of $13.67 billion, a P/E ratio of 29.44, a price-to-earnings-growth ratio of 9.08 and a beta of 1.10. The stock has a fifty day moving average price of $123.70 and a two-hundred day moving average price of $112.19.

Wynn Resorts (NASDAQ:WYNNGet Free Report) last released its quarterly earnings results on Thursday, November 6th. The casino operator reported $0.86 earnings per share 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 for the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the business earned $0.90 earnings per share. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. Equities analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Monday, November 17th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.8%. Wynn Resorts’s dividend payout ratio is currently 22.37%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. CIBC Private Wealth Group LLC raised its stake in shares of Wynn Resorts by 54.6% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,384 shares of the casino operator’s stock worth $178,000 after purchasing an additional 489 shares during the period. CIBC Bancorp USA Inc. purchased a new position in Wynn Resorts in the third quarter valued at approximately $1,106,000. Sunbelt Securities Inc. increased its position in Wynn Resorts by 23.8% in the third quarter. Sunbelt Securities Inc. now owns 3,364 shares of the casino operator’s stock worth $432,000 after buying an additional 647 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of Wynn Resorts during the 3rd quarter valued at $70,000. Finally, Armistice Capital LLC increased its holdings in Wynn Resorts by 160.7% in the 3rd quarter. Armistice Capital LLC now owns 116,944 shares of the casino operator’s stock worth $15,000,000 after acquiring an additional 72,087 shares during the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

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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