Wynn Resorts (WYNN) Stock Rating Upgraded by JPMorgan Chase & Co.

Wynn Resorts (NASDAQ:WYNN) was upgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report issued on Wednesday, The Fly reports.

Other equities research analysts have also issued reports about the company. Barclays upped their price target on Wynn Resorts from $148.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday, October 27th. Citigroup increased their target price on Wynn Resorts to $161.00 and gave the company a “buy” rating in a research note on Monday, October 16th. Stifel Nicolaus reiterated a “hold” rating and issued a $134.00 target price on shares of Wynn Resorts in a research note on Thursday, October 12th. Jefferies Group reiterated a “positive” rating and issued a $220.00 target price on shares of Wynn Resorts in a research note on Tuesday, January 23rd. Finally, Zacks Investment Research lowered Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, December 26th. Eleven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $178.93.

Shares of Wynn Resorts (NASDAQ:WYNN) opened at $163.22 on Wednesday. The company has a market capitalization of $17,008.45, a PE ratio of 22.45 and a beta of 1.59. The company has a debt-to-equity ratio of 24.54, a quick ratio of 1.68 and a current ratio of 1.72. Wynn Resorts has a 12 month low of $92.67 and a 12 month high of $203.63.

Wynn Resorts (NASDAQ:WYNN) last announced 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. The company had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.56 billion. Wynn Resorts had a return on equity of 148.17% and a net margin of 11.85%. The firm’s revenue was up 29.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.50 earnings per share. sell-side analysts anticipate that Wynn Resorts will post 7.62 EPS for the current fiscal year.

In related news, President Matt Maddox sold 59,260 shares of the stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $155.12, for a total value of $9,192,411.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 13.20% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Toronto Dominion Bank lifted its holdings in Wynn Resorts by 26.0% during the 2nd quarter. Toronto Dominion Bank now owns 27,068 shares of the casino operator’s stock worth $3,629,000 after buying an additional 5,593 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Wynn Resorts by 28.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 46,525 shares of the casino operator’s stock worth $6,240,000 after buying an additional 10,335 shares during the last quarter. Gotham Asset Management LLC bought a new position in Wynn Resorts during the 2nd quarter worth approximately $528,000. Cubist Systematic Strategies LLC lifted its holdings in Wynn Resorts by 84.3% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 28,371 shares of the casino operator’s stock worth $4,225,000 after buying an additional 12,981 shares during the last quarter. Finally, Scotia Capital Inc. lifted its holdings in Wynn Resorts by 30.0% during the 2nd quarter. Scotia Capital Inc. now owns 21,118 shares of the casino operator’s stock worth $2,832,000 after buying an additional 4,874 shares during the last quarter. 72.27% 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.

The Fly

Analyst Recommendations for Wynn Resorts (NASDAQ:WYNN)

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