Wynn Resorts (WYNN) Rating Increased to Buy at ValuEngine

ValuEngine upgraded shares of Wynn Resorts (NASDAQ:WYNN) from a hold rating to a buy rating in a research note published on Wednesday, May 2nd.

WYNN has been the subject of several other research reports. Morgan Stanley reiterated a hold rating and set a $194.00 price target (up previously from $193.00) on shares of Wynn Resorts in a report on Thursday, March 15th. Jefferies Group reiterated a positive rating and set a $220.00 price target on shares of Wynn Resorts in a report on Tuesday, January 23rd. Nomura upped their price target on Wynn Resorts from $210.00 to $215.00 and gave the stock a buy rating in a report on Wednesday, April 25th. UBS downgraded Wynn Resorts from a buy rating to a neutral rating and set a $174.00 price target for the company. in a report on Monday, January 29th. Finally, JPMorgan Chase upgraded Wynn Resorts from a neutral rating to an overweight rating in a research note on Wednesday, February 7th. Eight research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Wynn Resorts presently has a consensus rating of Buy and an average price target of $199.94.

Wynn Resorts traded up $2.33, hitting $192.51, during trading on Wednesday, MarketBeat reports. 1,671,694 shares of the company were exchanged, compared to its average volume of 3,680,835. Wynn Resorts has a 52 week low of $189.45 and a 52 week high of $191.93. The company has a market capitalization of $20.81 billion, a P/E ratio of 35.26 and a beta of 1.39. The company has a current ratio of 1.17, a quick ratio of 1.13 and a debt-to-equity ratio of 11.97.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Tuesday, April 24th. The casino operator reported $2.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.32. Wynn Resorts had a return on equity of 101.01% and a net margin of 6.75%. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the prior year, the company posted $1.24 earnings per share. Wynn Resorts’s revenue was up 20.5% compared to the same quarter last year. analysts predict that Wynn Resorts will post 8.62 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 29th. Stockholders of record on Thursday, May 17th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Wednesday, May 16th. This is a boost from Wynn Resorts’s previous quarterly dividend of $0.50. Wynn Resorts’s dividend payout ratio is currently 36.63%.

In other news, Director Robert Jos Miller sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 2nd. The stock was sold at an average price of $191.73, for a total transaction of $1,917,300.00. Following the transaction, the director now owns 19,162 shares of the company’s stock, valued at approximately $3,673,930.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Stephen A. Wynn sold 4,104,999 shares of the company’s stock in a transaction on Wednesday, March 21st. The shares were sold at an average price of $180.00, for a total value of $738,899,820.00. The disclosure for this sale can be found here. Insiders have sold a total of 4,133,449 shares of company stock worth $744,342,731 in the last ninety days. Insiders own 0.95% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Silvant Capital Management LLC purchased a new stake in Wynn Resorts during the 1st quarter worth about $104,000. Synovus Financial Corp purchased a new stake in Wynn Resorts during the 1st quarter worth about $147,000. Calton & Associates Inc. purchased a new stake in Wynn Resorts during the 4th quarter worth about $178,000. Mckinley Capital Management LLC Delaware purchased a new stake in Wynn Resorts during the 4th quarter worth about $171,000. Finally, Smithfield Trust Co. lifted its holdings in Wynn Resorts by 1,818.2% during the 1st quarter. Smithfield Trust Co. now owns 1,055 shares of the casino operator’s stock worth $193,000 after purchasing an additional 1,000 shares in the last quarter. 65.63% of the stock is currently owned by hedge funds and other institutional investors.

About Wynn Resorts

Wynn Resorts, Limited develops, owns, and operates destination casino resorts. As of February 15, 2018, the company's Wynn Macau segment had approximately 273,000 square feet of casino space, which offered 316 table games and 988 slot machines, private gaming salons, sky casinos, and a poker pit; 2 luxury hotel towers with a total of 1,008 guest rooms and suites; 8 food and beverage outlets; 59,000 square feet of retail space; 31,000 square feet of meeting and convention space; recreation and leisure facilities comprising 2 health clubs, spas, a salon, and a pool; and a rotunda show, a Chinese zodiac-inspired ceiling.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Wynn Resorts (NASDAQ:WYNN)

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