Wynn Resorts (WYNN) Downgraded to “Equal Weight” at Morgan Stanley

Wynn Resorts (NASDAQ:WYNN) was downgraded by investment analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report released on Friday, Marketbeat Ratings reports. They currently have a $193.00 price target on the casino operator’s stock. Morgan Stanley’s target price indicates a potential upside of 16.11% from the stock’s current price.

A number of other brokerages also recently weighed in on WYNN. BidaskClub raised shares of Wynn Resorts from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. Bank of America reaffirmed a “hold” rating and set a $200.00 price target on shares of Wynn Resorts in a report on Tuesday, January 23rd. Citigroup set a $228.00 price target on shares of Wynn Resorts and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Jefferies Group reaffirmed a “positive” rating and set a $220.00 price target on shares of Wynn Resorts in a report on Tuesday, January 23rd. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $201.00 price target (up previously from $153.00) on shares of Wynn Resorts in a report on Tuesday, January 23rd. Eleven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $179.62.

Wynn Resorts (WYNN) traded down $3.06 during midday trading on Friday, reaching $166.22. 5,510,000 shares of the company’s stock were exchanged, compared to its average volume of 5,680,000. The company has a quick ratio of 1.68, a current ratio of 1.72 and a debt-to-equity ratio of 24.54. The company has a market cap of $16,780.00, a P/E ratio of 22.86 and a beta of 1.59. Wynn Resorts has a 52-week low of $92.67 and a 52-week high of $203.63.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Monday, January 22nd. The casino operator reported $1.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.07. Wynn Resorts had a net margin of 11.85% and a return on equity of 148.17%. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the prior year, the firm posted $0.50 EPS. The firm’s quarterly revenue was up 29.9% on a year-over-year basis. research analysts forecast that Wynn Resorts will post 7.62 earnings per share for the current fiscal year.

In other Wynn Resorts news, President Matt Maddox sold 59,260 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $155.12, for a total value of $9,192,411.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 13.20% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. First Personal Financial Services increased its position in 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 acquiring an additional 360 shares during the period. Calton & Associates Inc. acquired a new position in Wynn Resorts in the 4th quarter valued at approximately $178,000. Mckinley Capital Management LLC Delaware acquired a new position in Wynn Resorts in the 4th quarter valued at approximately $171,000. IBM Retirement Fund acquired a new stake in shares of Wynn Resorts during the fourth quarter worth $201,000. Finally, FDx Advisors Inc. acquired a new stake in shares of Wynn Resorts during the fourth quarter worth $203,000. Hedge funds and other institutional investors own 72.27% of the company’s stock.

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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.

Analyst Recommendations for Wynn Resorts (NASDAQ:WYNN)

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