Wynn Resorts (NASDAQ:WYNN) Given New $103.00 Price Target at Stifel Nicolaus

Wynn Resorts (NASDAQ:WYNN) had its target price trimmed by Stifel Nicolaus from $121.00 to $103.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the casino operator’s stock.

Several other research analysts also recently issued reports on WYNN. Macquarie restated an outperform rating and set a $126.00 price objective on shares of Wynn Resorts in a report on Wednesday, August 7th. Argus upgraded Wynn Resorts from a hold rating to a buy rating and set a $110.00 price target on the stock in a research note on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft reduced their price objective on Wynn Resorts from $131.00 to $122.00 and set a buy rating for the company in a research report on Wednesday, August 7th. UBS Group upgraded Wynn Resorts to a hold rating in a research report on Friday, August 23rd. Finally, StockNews.com raised Wynn Resorts from a hold rating to a buy rating in a research report on Wednesday, September 4th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $113.73.

Wynn Resorts Trading Up 2.9 %

NASDAQ:WYNN opened at $78.46 on Friday. The firm has a market capitalization of $8.71 billion, a PE ratio of 10.75, a PEG ratio of 1.93 and a beta of 1.80. Wynn Resorts has a 1 year low of $71.63 and a 1 year high of $110.38. The firm’s fifty day simple moving average is $78.87 and its 200 day simple moving average is $90.53.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 earnings per share. As a group, analysts anticipate that Wynn Resorts will post 5.55 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.00 dividend on an annualized basis and a yield of 1.27%. Wynn Resorts’s dividend payout ratio is 13.70%.

Hedge Funds Weigh In On Wynn Resorts

A number of institutional investors and hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC bought a new stake in shares of Wynn Resorts during the second quarter valued at approximately $25,000. ICA Group Wealth Management LLC bought a new position in Wynn Resorts in the 4th quarter valued at $27,000. Register Financial Advisors LLC acquired a new stake in shares of Wynn Resorts in the 1st quarter valued at $37,000. Neo Ivy Capital Management bought a new stake in shares of Wynn Resorts during the fourth quarter worth $40,000. Finally, Versant Capital Management Inc acquired a new position in shares of Wynn Resorts during the second quarter valued at $51,000. Institutional investors and hedge funds own 68.87% of the company’s stock.

About Wynn Resorts

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.