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Wynn Resorts, Limited (NASDAQ:WYNN) was downgraded by Argus from a “buy” rating to a “hold” rating in a research note issued on Friday, TheFlyOnTheWall.com reports.

Wynn Resorts, Limited (NASDAQ:WYNN) opened at 184.765 on Friday. Wynn Resorts, Limited has a 52 week low of $141.23 and a 52 week high of $249.31. The stock’s 50-day moving average is $202.0 and its 200-day moving average is $211.. The company has a market cap of $18.646 billion and a P/E ratio of 22.84. Wynn Resorts, Limited also was the recipient of unusually large options trading on Tuesday. Traders purchased 19,899 put options on the stock. This is an increase of approximately 230% compared to the average daily volume of 6,022 put options.

Wynn Resorts, Limited (NASDAQ:WYNN) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $2.11 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.95 by $0.16. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the company posted $1.51 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. On average, analysts predict that Wynn Resorts, Limited will post $8.45 earnings per share for the current fiscal year.

A number of other analysts have also recently weighed in on WYNN. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Wynn Resorts, Limited in a research note on Thursday. They now have a $242.00 price target on the stock, up previously from $225.00. Separately, analysts at Sterne Agee reiterated a “buy” rating on shares of Wynn Resorts, Limited in a research note on Friday, August 15th. They now have a $245.00 price target on the stock, down previously from $260.00. Finally, analysts at Gabelli downgraded shares of Wynn Resorts, Limited from a “buy” rating to a “hold” rating in a research note on Thursday, August 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $231.94.

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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