Wynn Resorts’ (WYNN) “Buy” Rating Reiterated at Gabelli
Wynn Resorts Ltd. (NASDAQ:WYNN)‘s stock had its “buy” rating reaffirmed by equities researchers at Gabelli in a research note issued on Monday. They presently have a $124.00 price objective on the casino operator’s stock. Gabelli’s target price points to a potential upside of 32.80% from the stock’s previous close.
WYNN has been the subject of a number of other reports. Vetr raised Wynn Resorts from a “hold” rating to a “buy” rating and set a $103.36 price target for the company in a research note on Monday, August 1st. Credit Agricole SA reissued an “underperform” rating on shares of Wynn Resorts in a research note on Friday. Deutsche Bank AG reissued a “hold” rating on shares of Wynn Resorts in a research note on Friday, September 16th. Zacks Investment Research raised Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a research note on Monday, August 1st. Finally, JPMorgan Chase & Co. decreased their price target on Wynn Resorts from $94.00 to $93.00 and set a “neutral” rating for the company in a research note on Friday, July 29th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Wynn Resorts presently has a consensus rating of “Buy” and a consensus price target of $103.60.
Wynn Resorts (NASDAQ:WYNN) traded up 0.34% during mid-day trading on Monday, reaching $93.69. 990,801 shares of the company traded hands. The stock’s 50-day moving average price is $98.42 and its 200-day moving average price is $96.33. The firm has a market cap of $9.50 billion, a PE ratio of 28.99 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 issued its quarterly earnings results on Thursday, July 28th. The casino operator reported $1.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.16. Wynn Resorts had a return on equity of 3,746.24% and a net margin of 7.67%. The firm earned $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the company earned $0.74 EPS. Wynn Resorts’s quarterly revenue was up 1.7% compared to the same quarter last year. Analysts forecast that Wynn Resorts will post $3.77 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the stock. Moors & Cabot Inc. increased its stake in Wynn Resorts by 0.3% in the second quarter. Moors & Cabot Inc. now owns 2,954 shares of the casino operator’s stock valued at $268,000 after buying an additional 10 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Wynn Resorts by 0.4% in the second quarter. CIBC Asset Management Inc now owns 10,842 shares of the casino operator’s stock valued at $983,000 after buying an additional 38 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of Wynn Resorts by 2.9% in the second quarter. Thrivent Financial for Lutherans now owns 2,500 shares of the casino operator’s stock valued at $227,000 after buying an additional 70 shares during the period. Norinchukin Bank The boosted its position in shares of Wynn Resorts by 2.3% in the second quarter. Norinchukin Bank The now owns 4,271 shares of the casino operator’s stock valued at $387,000 after buying an additional 94 shares during the period. Finally, Advantus Capital Management Inc boosted its position in shares of Wynn Resorts by 1.5% in the second quarter. Advantus Capital Management Inc now owns 7,950 shares of the casino operator’s stock valued at $721,000 after buying an additional 119 shares during the period. Institutional investors and hedge funds own 74.57% of the company’s stock.
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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