Wynn Resorts, Limited (NASDAQ:WYNN) Receives Average Rating of “Hold” from Brokerages

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) have received an average recommendation of “Hold” from the seventeen ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $109.00.

Several research analysts have recently issued reports on the company. Wells Fargo & Company assumed coverage on Wynn Resorts in a research note on Tuesday, September 14th. They issued an “equal weight” rating and a $112.00 price target for the company. Morgan Stanley decreased their price target on Wynn Resorts from $138.00 to $113.00 and set an “overweight” rating for the company in a research note on Monday. Bank of America cut Wynn Resorts from a “buy” rating to a “neutral” rating in a research note on Monday, August 9th. JPMorgan Chase & Co. cut Wynn Resorts from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $122.00 to $89.00 in a research note on Thursday, September 16th. Finally, Argus cut Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Friday, September 17th.

NASDAQ:WYNN opened at $83.83 on Friday. Wynn Resorts has a 1 year low of $67.70 and a 1 year high of $143.88. The stock has a market cap of $9.70 billion, a price-to-earnings ratio of -6.30 and a beta of 2.40. The business has a fifty day moving average of $97.06 and a 200-day moving average of $116.40.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Wednesday, August 4th. The casino operator reported ($1.12) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.41) by $0.29. The business had revenue of $990.10 million during the quarter, compared to the consensus estimate of $915.70 million. During the same period in the previous year, the company posted ($6.14) EPS. The company’s revenue for the quarter was up 1055.3% compared to the same quarter last year. Equities analysts expect that Wynn Resorts will post -5.56 EPS for the current fiscal year.

In other news, Director Patricia Mulroy sold 400 shares of the company’s stock in a transaction on Wednesday, August 11th. The stock was sold at an average price of $97.13, for a total transaction of $38,852.00. Following the completion of the sale, the director now directly owns 8,107 shares of the company’s stock, valued at $787,432.91. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.62% of the company’s stock.

A number of institutional investors have recently made changes to their positions in WYNN. Capital International Investors lifted its stake in Wynn Resorts by 32.3% in the 1st quarter. Capital International Investors now owns 8,783,001 shares of the casino operator’s stock worth $1,101,127,000 after acquiring an additional 2,142,871 shares in the last quarter. BlackRock Inc. lifted its stake in Wynn Resorts by 13.0% in the 1st quarter. BlackRock Inc. now owns 7,615,648 shares of the casino operator’s stock worth $954,773,000 after acquiring an additional 875,577 shares in the last quarter. Jericho Capital Asset Management L.P. purchased a new stake in Wynn Resorts in the 1st quarter worth about $105,060,000. Morgan Stanley lifted its stake in Wynn Resorts by 69.0% in the 1st quarter. Morgan Stanley now owns 1,113,929 shares of the casino operator’s stock worth $139,654,000 after acquiring an additional 454,679 shares in the last quarter. Finally, Amundi purchased a new stake in Wynn Resorts in the 2nd quarter worth about $28,609,000. 68.06% of the stock is owned by hedge funds and other institutional investors.

Wynn Resorts Company Profile

Wynn Resorts Ltd. is a holding company, which engages in the design, development, and operation of destination casino resorts. It operates through the following segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The company was founded by Stephen Alan Wynn, Elaine P. Wynn, and Kazuo Okada in 2002 and is headquartered in Las Vegas, NV.

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Analyst Recommendations for Wynn Resorts (NASDAQ:WYNN)

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