Wynn Resorts’ (WYNN) Buy Rating Reaffirmed at Gabelli

Wynn Resorts (NASDAQ:WYNN)‘s stock had its “buy” rating reiterated by analysts at Gabelli in a report released on Tuesday, MarketBeat Ratings reports. They presently have a $230.00 price objective on the casino operator’s stock. Gabelli’s target price would indicate a potential upside of 17.98% from the company’s previous close.

A number of other equities research analysts have also issued reports on WYNN. Bank of America reissued a “hold” rating and issued a $200.00 price objective on shares of Wynn Resorts in a report on Tuesday. Jefferies Group reissued a “positive” rating and issued a $220.00 price objective on shares of Wynn Resorts in a report on Tuesday. BidaskClub raised shares of Wynn Resorts from a “hold” rating to a “buy” rating in a report on Tuesday. UBS Group reissued a “buy” rating and issued a $174.00 price objective (up previously from $149.00) on shares of Wynn Resorts in a report on Friday, September 29th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $201.00 price objective (up previously from $153.00) on shares of Wynn Resorts in a report on Tuesday. Ten analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $172.15.

Wynn Resorts (WYNN) traded down $0.28 during trading on Tuesday, hitting $194.95. 4,251,519 shares of the stock were exchanged, compared to its average volume of 1,970,000. Wynn Resorts has a fifty-two week low of $90.89 and a fifty-two week high of $201.69. The stock has a market capitalization of $20,040.00, a price-to-earnings ratio of 26.82 and a beta of 1.73. The company has a debt-to-equity ratio of 24.54, a current ratio of 1.72 and a quick ratio of 1.68.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Wednesday, January 24th. The casino operator reported $1.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.07. Wynn Resorts had a net margin of 6.24% and a return on equity of 132.96%. The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the prior year, the firm earned $0.50 earnings per share. The company’s revenue for the quarter was up 29.9% compared to the same quarter last year. equities analysts expect that Wynn Resorts will post 5.38 EPS for the current fiscal year.

In other Wynn Resorts news, EVP Kimmarie Sinatra sold 20,795 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $152.03, for a total value of $3,161,463.85. Following the transaction, the executive vice president now owns 226,992 shares of the company’s stock, valued at $34,509,593.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Matt Maddox sold 59,260 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $155.12, for a total transaction of $9,192,411.20. The disclosure for this sale can be found here. Insiders sold 95,055 shares of company stock worth $14,629,975 in the last ninety days. 13.20% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Nationwide Fund Advisors lifted its position in shares of Wynn Resorts by 83.9% during the second quarter. Nationwide Fund Advisors now owns 41,256 shares of the casino operator’s stock worth $5,533,000 after purchasing an additional 18,820 shares in the last quarter. Stevens Capital Management LP acquired a new stake in shares of Wynn Resorts during the second quarter worth about $837,000. Thrivent Financial For Lutherans lifted its position in shares of Wynn Resorts by 4.1% during the second quarter. Thrivent Financial For Lutherans now owns 3,030 shares of the casino operator’s stock worth $406,000 after purchasing an additional 120 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of Wynn Resorts by 8.5% during the second quarter. New York State Common Retirement Fund now owns 191,975 shares of the casino operator’s stock worth $25,748,000 after purchasing an additional 14,974 shares in the last quarter. Finally, Mutual of America Capital Management LLC lifted its position in shares of Wynn Resorts by 8.0% during the second quarter. Mutual of America Capital Management LLC now owns 9,628 shares of the casino operator’s stock worth $1,291,000 after purchasing an additional 713 shares in the last quarter. 71.99% of the stock is currently owned by institutional investors.

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About Wynn Resorts

Wynn Resorts, Limited (Wynn Resorts) 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’s segments include Macau Operations and Las Vegas Operations.

Analyst Recommendations for Wynn Resorts (NASDAQ:WYNN)

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