Wynn Resorts (NASDAQ:WYNN) had its price objective reduced by investment analysts at Barclays from $157.00 to $150.00 in a note issued to investors on Thursday, BenzingaRatingsTable reports. The brokerage presently has an “overweight” rating on the casino operator’s stock. Barclays‘s price target points to a potential upside of 31.21% from the stock’s current price.
Several other equities analysts have also recently issued reports on WYNN. Jefferies Financial Group upped their target price on shares of Wynn Resorts from $160.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Morgan Stanley lowered their target price on shares of Wynn Resorts from $135.00 to $130.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 6th. Standpoint Research assumed coverage on shares of Wynn Resorts in a research note on Wednesday, September 4th. They set a “buy” rating on the stock. UBS Group lowered their target price on shares of Wynn Resorts from $119.00 to $114.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 21st. Finally, Nomura lowered their target price on shares of Wynn Resorts from $142.00 to $126.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $136.93.
Shares of Wynn Resorts stock opened at $114.32 on Thursday. The stock has a market cap of $12.27 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 2.03 and a beta of 2.05. The firm’s 50-day moving average is $114.70 and its 200 day moving average is $124.16. Wynn Resorts has a 1 year low of $90.06 and a 1 year high of $151.50. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.00 and a quick ratio of 0.95.
Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Tuesday, August 6th. The casino operator reported $1.44 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.44. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Wynn Resorts had a net margin of 12.41% and a return on equity of 34.98%. Wynn Resorts’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.53 EPS. On average, equities analysts expect that Wynn Resorts will post 5.64 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its position in shares of Wynn Resorts by 84.2% during the 4th quarter. Parallel Advisors LLC now owns 256 shares of the casino operator’s stock valued at $25,000 after purchasing an additional 117 shares during the last quarter. JOYN Advisors Inc. increased its holdings in Wynn Resorts by 1,680.0% in the 4th quarter. JOYN Advisors Inc. now owns 267 shares of the casino operator’s stock worth $26,000 after acquiring an additional 252 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in Wynn Resorts in the 2nd quarter worth approximately $31,000. Sumitomo Mitsui Financial Group Inc. purchased a new stake in Wynn Resorts in the 2nd quarter worth approximately $35,000. Finally, Optimum Investment Advisors purchased a new stake in Wynn Resorts in the 1st quarter worth approximately $36,000. 75.75% of the stock is owned by hedge funds and other institutional investors.
Wynn Resorts Company Profile
Wynn Resorts, Limited owns and operates destination casino resorts. As of February 20, 2019, the company's Wynn Palace segment had approximately 424,000 square feet of casino space, which offered 320 table games and 1,041 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas; 13 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities comprising a gondola ride, health club, spa, salon, and pool; and public attractions, such as performance lake and floral art displays.
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