Wynn Resorts (NASDAQ:WYNN) had its price objective boosted by investment analysts at Morgan Stanley from $115.00 to $120.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. The brokerage currently has an “equal weight” rating on the casino operator’s stock. Morgan Stanley’s price objective would suggest a potential downside of 5.12% from the company’s current price.
Several other research analysts have also recently weighed in on WYNN. BidaskClub upgraded shares of Wynn Resorts from a “sell” rating to a “hold” rating in a research report on Saturday, October 12th. UBS Group decreased their price objective on shares of Wynn Resorts from $119.00 to $114.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 21st. JPMorgan Chase & Co. upped their price objective on shares of Wynn Resorts from $136.00 to $143.00 and gave the stock an “overweight” rating in a research report on Thursday. Jefferies Financial Group upped their price objective on shares of Wynn Resorts from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Finally, Credit Suisse Group upped their price objective on shares of Wynn Resorts from $120.00 to $125.00 and gave the stock a “neutral” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $137.59.
Shares of NASDAQ:WYNN traded up $0.98 during midday trading on Thursday, reaching $126.47. The company had a trading volume of 1,396,900 shares, compared to its average volume of 2,073,250. The company’s 50 day moving average price is $114.45 and its 200 day moving average price is $120.37. Wynn Resorts has a 52-week low of $90.06 and a 52-week high of $151.50. The stock has a market cap of $13.62 billion, a P/E ratio of 19.34, a P/E/G ratio of 2.43 and a beta of 2.07. The company has a current ratio of 1.00, a quick ratio of 0.95 and a debt-to-equity ratio of 5.00.
Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Wednesday, November 6th. The casino operator reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.73). Wynn Resorts had a net margin of 12.41% and a return on equity of 34.98%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the company earned $1.68 earnings per share. The company’s quarterly revenue was down 3.6% on a year-over-year basis. Research analysts forecast that Wynn Resorts will post 5.21 EPS for the current fiscal year.
In other Wynn Resorts news, CEO Matt Maddox sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $117.30, for a total value of $2,932,500.00. Following the completion of the sale, the chief executive officer now owns 459,185 shares of the company’s stock, valued at $53,862,400.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 75,000 shares of company stock valued at $8,750,250. 0.58% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Rational Advisors LLC boosted its stake in Wynn Resorts by 7,131.6% in the third quarter. Rational Advisors LLC now owns 1,374 shares of the casino operator’s stock worth $149,000 after buying an additional 1,355 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Wynn Resorts by 0.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,327,357 shares of the casino operator’s stock worth $144,311,000 after buying an additional 6,721 shares in the last quarter. Cookson Peirce & Co. Inc. boosted its stake in Wynn Resorts by 24.1% in the third quarter. Cookson Peirce & Co. Inc. now owns 5,325 shares of the casino operator’s stock worth $579,000 after buying an additional 1,035 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Wynn Resorts by 72.9% in the third quarter. Tower Research Capital LLC TRC now owns 2,481 shares of the casino operator’s stock worth $270,000 after buying an additional 1,046 shares in the last quarter. Finally, Alps Advisors Inc. purchased a new stake in Wynn Resorts in the third quarter worth approximately $641,000. 75.66% of the stock is owned by institutional investors and hedge funds.
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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