Wells Fargo & Co. Reaffirms “Neutral” Rating for Wynn Resorts Ltd. (WYNN)
Wynn Resorts Ltd. (NASDAQ:WYNN)‘s stock had its “neutral” rating reissued by stock analysts at Wells Fargo & Co. in a research report issued to clients and investors on Monday.
Several other brokerages have also recently issued reports on WYNN. Nomura cut Wynn Resorts from a “neutral” rating to a “reduce” rating and raised their price objective for the stock from $78.00 to $83.00 in a research note on Friday, July 29th. Vetr upgraded Wynn Resorts from a “buy” rating to a “strong-buy” rating and set a $112.54 price objective on the stock in a research note on Wednesday, August 10th. Morgan Stanley restated an “overweight” rating on shares of Wynn Resorts in a research note on Wednesday, June 29th. Credit Agricole SA set a $97.00 price objective on Wynn Resorts and gave the stock a “sell” rating in a research note on Monday, September 19th. Finally, JPMorgan Chase & Co. cut Wynn Resorts from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $101.00 to $94.00 in a research note on Thursday, July 14th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $101.91.
Shares of Wynn Resorts (NASDAQ:WYNN) traded up 1.80% during midday trading on Monday, hitting $98.76. 167,429 shares of the company’s stock traded hands. The company has a 50 day moving average of $98.17 and a 200 day moving average of $96.25. The stock has a market cap of $10.02 billion, a P/E ratio of 30.56 and a beta of 1.85. Wynn Resorts has a 52 week low of $49.95 and a 52 week high of $109.50.
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Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Thursday, July 28th. The casino operator reported $1.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.16. The company earned $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Wynn Resorts had a return on equity of 3,746.24% and a net margin of 7.67%. The business’s revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.74 EPS. On average, equities analysts forecast that Wynn Resorts will post $3.77 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc raised its position in Wynn Resorts by 44.1% in the first quarter. IFP Advisors Inc now owns 1,069 shares of the casino operator’s stock worth $100,000 after buying an additional 327 shares during the period. Ngam Advisors L.P. raised its stake in shares of Wynn Resorts by 31.6% in the first quarter. Ngam Advisors L.P. now owns 20,504 shares of the casino operator’s stock worth $1,916,000 after buying an additional 4,923 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Wynn Resorts by 10.1% in the first quarter. TIAA CREF Investment Management LLC now owns 378,980 shares of the casino operator’s stock worth $35,408,000 after buying an additional 34,732 shares during the last quarter. Teachers Advisors Inc. raised its stake in shares of Wynn Resorts by 5.0% in the first quarter. Teachers Advisors Inc. now owns 85,306 shares of the casino operator’s stock worth $7,970,000 after buying an additional 4,079 shares during the last quarter. Finally, BlackRock Group LTD raised its stake in shares of Wynn Resorts by 0.7% in the first quarter. BlackRock Group LTD now owns 635,440 shares of the casino operator’s stock worth $59,370,000 after buying an additional 4,714 shares during the last quarter. Institutional investors and hedge funds own 74.48% of the company’s stock.
Wynn Resorts Company Profile
Wynn Resorts, Limited 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 operates through two segments: Macau Operations and Las Vegas Operations.
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