Wells Fargo & Co. Reaffirms Neutral Rating for Wynn Resorts Ltd. (WYNN)
Wynn Resorts Ltd. (NASDAQ:WYNN)‘s stock had its “neutral” rating reiterated by investment analysts at Wells Fargo & Co. in a report released on Monday.
WYNN has been the topic of several other research reports. Vetr raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $103.36 target price on the stock in a research note on Monday, August 1st. Deutsche Bank AG reaffirmed a “hold” rating on shares of Wynn Resorts in a research note on Friday, September 16th. Zacks Investment Research raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a research note on Monday, August 1st. JPMorgan Chase & Co. reduced their target price on shares of Wynn Resorts from $94.00 to $93.00 and set a “neutral” rating on the stock in a research note on Friday, July 29th. Finally, Credit Agricole SA reaffirmed an “underperform” rating and issued a $97.00 target price on shares of Wynn Resorts in a research note on Wednesday, August 24th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $101.91.
Wynn Resorts (NASDAQ:WYNN) opened at 97.8484 on Monday. Wynn Resorts has a 1-year low of $49.95 and a 1-year high of $109.50. The firm has a market cap of $9.93 billion, a price-to-earnings ratio of 30.2749 and a beta of 1.85. The firm has a 50-day moving average of $98.17 and a 200 day moving average of $96.25.
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Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Thursday, July 28th. The casino operator reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.16. Wynn Resorts had a net margin of 7.67% and a return on equity of 3,746.24%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the firm earned $0.74 EPS. The company’s revenue was up 1.7% on a year-over-year basis. Analysts expect that Wynn Resorts will post $3.77 earnings per share for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the company. Columbus Circle Investors bought a new position in Wynn Resorts during the second quarter worth approximately $64,835,000. Jericho Capital Asset Management L.P. bought a new position in Wynn Resorts during the first quarter worth approximately $44,826,000. Point72 Asset Management L.P. boosted its position in Wynn Resorts by 516.6% in the second quarter. Point72 Asset Management L.P. now owns 480,328 shares of the casino operator’s stock worth $43,537,000 after buying an additional 402,428 shares during the period. Thornburg Investment Management Inc. boosted its position in Wynn Resorts by 81.7% in the second quarter. Thornburg Investment Management Inc. now owns 874,764 shares of the casino operator’s stock worth $79,289,000 after buying an additional 393,277 shares during the period. Finally, Nicholas Investment Partners LP bought a new position in Wynn Resorts during the first quarter worth approximately $28,029,000. 74.48% of the stock is owned by hedge funds and other institutional investors.
About Wynn Resorts
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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