Deutsche Bank AG Trims Wynn Resorts Ltd. (WYNN) Target Price to $100.00
Wynn Resorts Ltd. (NASDAQ:WYNN) had its price objective cut by analysts at Deutsche Bank AG from $101.00 to $100.00 in a note issued to investors on Wednesday. The firm currently has a “hold” rating on the casino operator’s stock. Deutsche Bank AG’s target price indicates a potential upside of 2.35% from the company’s current price.
Several other analysts also recently issued reports on the stock. Wells Fargo & Co. reissued a “neutral” rating on shares of Wynn Resorts in a research note on Monday. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Wynn Resorts in a research note on Wednesday, October 5th. Credit Agricole SA set a $97.00 price target on shares of Wynn Resorts and gave the stock a “sell” rating in a research note on Monday, September 19th. Susquehanna reaffirmed a “neutral” rating and issued a $105.00 price target on shares of Wynn Resorts in a research note on Thursday, September 8th. Finally, Buckingham Research began coverage on shares of Wynn Resorts in a research note on Friday, August 12th. They issued a “buy” rating and a $113.00 price target on the stock. Two equities 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. Wynn Resorts currently has an average rating of “Buy” and a consensus target price of $101.85.
Shares of Wynn Resorts (NASDAQ:WYNN) traded down 1.3919% during mid-day trading on Wednesday, hitting $96.3401. The stock had a trading volume of 1,187,688 shares. The firm’s 50 day moving average price is $98.22 and its 200-day moving average price is $96.34. The company has a market cap of $9.77 billion, a PE ratio of 29.8082 and a beta of 1.85. Wynn Resorts has a one year low of $49.95 and a one year high of $109.50.
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Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Thursday, July 28th. The casino operator reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the business earned $0.74 EPS. The company’s revenue was up 1.7% on a year-over-year basis. On average, equities research analysts anticipate that Wynn Resorts will post $3.77 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. 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 valued at $100,000 after buying an additional 327 shares during the period. TLP Group LLC acquired a new position in Wynn Resorts during the second quarter valued at about $114,000. Mizuho Asset Management Co. Ltd. raised its position in Wynn Resorts by 176.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,266 shares of the casino operator’s stock valued at $115,000 after buying an additional 808 shares during the period. Advisory Services Network LLC raised its position in Wynn Resorts by 171.8% in the third quarter. Advisory Services Network LLC now owns 1,582 shares of the casino operator’s stock valued at $154,000 after buying an additional 1,000 shares during the period. Finally, Krilogy Financial LLC raised its position in Wynn Resorts by 57.8% in the second quarter. Krilogy Financial LLC now owns 1,775 shares of the casino operator’s stock valued at $161,000 after buying an additional 650 shares during the period. 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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