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.