Wynn Resorts (WYNN) Given New $190.00 Price Target at Bank of America

Wynn Resorts (NASDAQ:WYNN) had its target price decreased by equities research analysts at Bank of America from $200.00 to $190.00 in a research report issued to clients and investors on Wednesday. The brokerage currently has a “neutral” rating on the casino operator’s stock. Bank of America’s price objective points to a potential upside of 14.80% from the company’s previous close.

Several other brokerages have also recently commented on WYNN. Stifel Nicolaus boosted their price target on Wynn Resorts from $134.00 to $153.00 and gave the stock a “hold” rating in a research report on Friday, October 27th. TheStreet cut Wynn Resorts from a “b-” rating to a “c+” rating in a research report on Friday, October 13th. Morgan Stanley set a $193.00 price target on Wynn Resorts and gave the stock a “buy” rating in a research report on Tuesday. Barclays boosted their price target on Wynn Resorts to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, December 14th. Finally, Jefferies Group started coverage on Wynn Resorts in a research report on Thursday, January 18th. They set a “buy” rating and a $202.00 price target for the company. Ten analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $175.32.

Shares of Wynn Resorts (NASDAQ WYNN) traded down $5.89 on Wednesday, hitting $165.50. The company had a trading volume of 11,246,329 shares, compared to its average volume of 5,978,266. 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 has a 52-week low of $92.67 and a 52-week high of $203.63. The stock has a market capitalization of $17,620.00, a PE ratio of 22.76 and a beta of 1.73.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Monday, January 22nd. The casino operator reported $1.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.07. Wynn Resorts had a return on equity of 148.17% and a net margin of 11.85%. The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the previous year, the business earned $0.50 earnings per share. The firm’s revenue for the quarter was up 29.9% on a year-over-year basis. sell-side analysts predict that Wynn Resorts will post 7.73 EPS for the current year.

In other Wynn Resorts news, EVP Kimmarie Sinatra sold 20,795 shares of the business’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $152.03, for a total transaction 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 accessible through this link. Also, President Matt Maddox sold 59,260 shares of the business’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $155.12, for a total value of $9,192,411.20. The disclosure for this sale can be found here. Insiders have sold 95,055 shares of company stock worth $14,629,975 in the last three months. 13.20% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WYNN. First Personal Financial Services lifted its stake in shares of Wynn Resorts by 102.9% in the 3rd quarter. First Personal Financial Services now owns 710 shares of the casino operator’s stock valued at $106,000 after purchasing an additional 360 shares during the last quarter. Segment Wealth Management LLC acquired a new position in shares of Wynn Resorts in the 4th quarter valued at $217,000. Moors & Cabot Inc. acquired a new position in shares of Wynn Resorts in the 3rd quarter valued at $222,000. Neuberger Berman Group LLC acquired a new position in shares of Wynn Resorts in the 3rd quarter valued at $234,000. Finally, Lee Financial Group Hawaii Inc. acquired a new position in shares of Wynn Resorts in the 4th quarter valued at $236,000. 72.11% of the stock is currently owned by institutional investors.

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Wynn Resorts Company Profile

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.