Wynn Resorts, Limited (WYNN) Raised to “Buy” at Deutsche Bank AG

Deutsche Bank AG upgraded shares of Wynn Resorts, Limited (NASDAQ:WYNN) from a hold rating to a buy rating in a report released on Tuesday, Marketbeat Ratings reports. The firm currently has $150.00 price target on the casino operator’s stock, up from their previous price target of $138.00.

Several other equities research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Wynn Resorts, Limited from a buy rating to a hold rating in a research report on Monday, August 7th. Vetr raised shares of Wynn Resorts, Limited from a buy rating to a strong-buy rating and set a $146.26 target price for the company in a research report on Thursday, July 27th. Stifel Nicolaus reissued a hold rating and issued a $134.00 target price (up previously from $128.00) on shares of Wynn Resorts, Limited in a research report on Wednesday, July 26th. UBS AG downgraded shares of Wynn Resorts, Limited from a buy rating to a hold rating in a research report on Wednesday, July 26th. Finally, Union Gaming Research reissued a hold rating on shares of Wynn Resorts, Limited in a research report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $126.99.

Wynn Resorts, Limited (WYNN) opened at 134.62 on Tuesday. Wynn Resorts, Limited has a 1-year low of $82.51 and a 1-year high of $139.67. The firm has a market cap of $13.72 billion, a P/E ratio of 50.38 and a beta of 1.72. The firm has a 50-day moving average of $131.63 and a 200 day moving average of $119.85. Wynn Resorts, Limited also saw unusually large options trading activity on Tuesday. Stock traders acquired 13,518 put options on the stock. This is an increase of approximately 161% compared to the average daily volume of 5,177 put options.

Wynn Resorts, Limited (NASDAQ:WYNN) last released its earnings results on Tuesday, July 25th. The casino operator reported $1.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.02. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.47 billion. Wynn Resorts, Limited had a net margin of 5.02% and a return on equity of 165.77%. The company’s revenue was up 44.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.07 EPS. On average, analysts predict that Wynn Resorts, Limited will post $4.90 EPS for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 22nd. Shareholders of record on Thursday, August 10th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Tuesday, August 8th. Wynn Resorts, Limited’s payout ratio is 74.91%.

In other news, Director Clark T. Jr. Randt sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $129.00, for a total value of $387,000.00. Following the completion of the sale, the director now directly owns 7,711 shares of the company’s stock, valued at approximately $994,719. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Matt Maddox sold 44,309 shares of the company’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $134.35, for a total transaction of $5,952,914.15. Following the completion of the sale, the president now directly owns 344,895 shares of the company’s stock, valued at $46,336,643.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,933 shares of company stock valued at $9,261,125. Company insiders own 13.20% of the company’s stock.

Hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Wynn Resorts, Limited by 5,076.4% in the first quarter. BlackRock Inc. now owns 4,945,920 shares of the casino operator’s stock worth $566,852,000 after buying an additional 4,850,373 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Wynn Resorts, Limited by 128.1% in the second quarter. JPMorgan Chase & Co. now owns 819,007 shares of the casino operator’s stock worth $109,845,000 after buying an additional 459,916 shares in the last quarter. OZ Management LP raised its stake in shares of Wynn Resorts, Limited by 24.8% in the first quarter. OZ Management LP now owns 2,132,012 shares of the casino operator’s stock worth $244,350,000 after buying an additional 423,658 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Wynn Resorts, Limited by 76.6% in the first quarter. American Century Companies Inc. now owns 856,721 shares of the casino operator’s stock worth $98,189,000 after buying an additional 371,701 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in shares of Wynn Resorts, Limited by 142.5% in the first quarter. TIAA CREF Investment Management LLC now owns 599,398 shares of the casino operator’s stock worth $68,697,000 after buying an additional 352,191 shares in the last quarter. 72.83% of the stock is owned by institutional investors.

About Wynn Resorts, Limited

Wynn Resorts, Limited (Wynn Resorts) is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company’s segments include Macau Operations and Las Vegas Operations.

Analyst Recommendations for Wynn Resorts, Limited (NASDAQ:WYNN)

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