Wynn Resorts Given New $227.00 Price Target at Morgan Stanley (WYNN)
Stock analysts at Morgan Stanley increased their target price on shares of Wynn Resorts (NASDAQ:WYNN) from $212.00 to $227.00 in a report issued on Monday, American Banking News reports. Morgan Stanley’s price objective would indicate a potential upside of 4.41% from the company’s current price.
The analysts wrote, “We assume that Wynn Palace is allocated 300 tables (3% annual table cap increase results in 1,800 tables available for six new Cotai properties). Our assumptions imply that the property will generate win/table/day well in excess of current levels (though current compounding rate of growth justifies this) and Wynn’s Peninsula property in 2017 (given the shift in Macau to Cotai, we believe this makes sense). However, in aggregate, we assume Wynn Cotai generates lower EBITDA than the Peninsula property in 2017, despite having more hotel rooms and being the “must-see” property in Asia, which may be conservative.”
Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs Group Inc. raised their price target on shares of Wynn Resorts from $238.00 to $250.00 in a research note to investors on Monday. Separately, analysts at FBR Capital Markets reiterated a “hold” rating on shares of Wynn Resorts in a research note to investors on Friday. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Wynn Resorts from $229.00 to $232.00 in a research note to investors on Friday. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $196.18.
Wynn Resorts (NASDAQ:WYNN) traded down 1.41% on Monday, hitting $214.36. The stock had a trading volume of 529,926 shares. Wynn Resorts has a one year low of $113.39 and a one year high of $219.91. The stock’s 50-day moving average is $197.7 and its 200-day moving average is $164.5. The company has a market cap of $21.596 billion and a price-to-earnings ratio of 30.32. Wynn Resorts also saw some unusual options trading activity on Friday. Investors acquired 20,519 call options on the company. This represents an increase of approximately 307% compared to the average volume of 5,039 call options.
Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Thursday, January 30th. The company reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.52. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.44 billion. On average, analysts predict that Wynn Resorts will post $7.86 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, February 27th. Shareholders of record on Thursday, February 13th will be given a dividend of 1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.30%.
Wynn Resorts, Limited is a developer, owner and operator of destination casino resorts. The Company owns and operates two destination casino resorts.
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