Wynn Resorts (NASDAQ:WYNN) Raised to “Strong-Buy” at BidaskClub

BidaskClub upgraded shares of Wynn Resorts (NASDAQ:WYNN) from a buy rating to a strong-buy rating in a research note issued to investors on Tuesday, April 16th, BidAskClub reports.

Other analysts have also recently issued research reports about the stock. Deutsche Bank upped their target price on shares of Wynn Resorts from $123.00 to $130.00 and gave the company a buy rating in a research report on Monday, January 7th. Goldman Sachs Group began coverage on shares of Wynn Resorts in a research report on Wednesday, April 10th. They set a neutral rating and a $132.00 target price for the company. Stifel Nicolaus upped their price objective on shares of Wynn Resorts from $138.00 to $141.00 and gave the company a buy rating in a research report on Wednesday, January 16th. Nomura restated a buy rating and issued a $145.00 price objective (up previously from $132.00) on shares of Wynn Resorts in a research report on Thursday, January 31st. Finally, Morgan Stanley increased their price objective on shares of Wynn Resorts from $122.00 to $130.00 and gave the stock an equal weight rating in a research note on Wednesday, March 6th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Wynn Resorts presently has a consensus rating of Buy and a consensus target price of $152.00.

Shares of WYNN traded down $6.44 on Tuesday, hitting $129.89. The company’s stock had a trading volume of 4,683,837 shares, compared to its average volume of 2,197,702. Wynn Resorts has a fifty-two week low of $90.06 and a fifty-two week high of $201.49. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.40 and a quick ratio of 1.37. The company has a market capitalization of $14.63 billion, a P/E ratio of 19.86, a PEG ratio of 2.31 and a beta of 1.76.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Thursday, May 9th. The casino operator reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.02. Wynn Resorts had a return on equity of 47.05% and a net margin of 8.70%. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the business earned $2.30 EPS. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Wynn Resorts will post 6.38 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Wednesday, May 22nd will be given a $1.00 dividend. The ex-dividend date is Tuesday, May 21st. This represents a $4.00 dividend on an annualized basis and a yield of 3.08%. This is a positive change from Wynn Resorts’s previous quarterly dividend of $0.75. Wynn Resorts’s dividend payout ratio (DPR) is currently 45.87%.

In other news, Director Patricia Mulroy sold 425 shares of Wynn Resorts stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $118.02, for a total transaction of $50,158.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.58% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. acquired a new position in Wynn Resorts in the first quarter valued at $25,000. Parallel Advisors LLC lifted its holdings in Wynn Resorts by 84.2% in the fourth quarter. Parallel Advisors LLC now owns 256 shares of the casino operator’s stock valued at $25,000 after buying an additional 117 shares during the period. JOYN Advisors Inc. lifted its holdings in Wynn Resorts by 1,680.0% in the fourth quarter. JOYN Advisors Inc. now owns 267 shares of the casino operator’s stock valued at $26,000 after buying an additional 252 shares during the period. Optimum Investment Advisors acquired a new position in Wynn Resorts in the first quarter valued at $36,000. Finally, Zions Bancorporation N.A. acquired a new position in Wynn Resorts in the first quarter valued at $41,000. Institutional investors and hedge funds own 75.19% of the company’s stock.

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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