Wynn Resorts (NASDAQ:WYNN) had its price objective hoisted by investment analysts at JPMorgan Chase & Co. from $136.00 to $143.00 in a research report issued on Thursday, AnalystRatings.com reports. The brokerage presently has an “overweight” rating on the casino operator’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 14.29% from the stock’s previous close.
A number of other research firms have also recently issued reports on WYNN. Deutsche Bank set a $150.00 target price on shares of Wynn Resorts and gave the company a “buy” rating in a research note on Wednesday, August 7th. Jefferies Financial Group lifted 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 cut their target price on shares of Wynn Resorts from $129.00 to $115.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 17th. UBS Group cut their target price on shares of Wynn Resorts from $119.00 to $114.00 and set a “neutral” rating for the company in a research note on Wednesday, August 21st. Finally, Nomura cut their target price on shares of Wynn Resorts from $126.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $137.59.
Shares of NASDAQ:WYNN traded down $0.37 during trading on Thursday, reaching $125.12. The stock had a trading volume of 80,593 shares, compared to its average volume of 1,574,271. Wynn Resorts has a 52 week low of $90.06 and a 52 week high of $151.50. The business’s 50-day moving average price is $114.18 and its 200 day moving average price is $120.46. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.00 and a quick ratio of 0.95. The stock has a market capitalization of $13.62 billion, a PE ratio of 19.14, a P/E/G ratio of 2.43 and a beta of 2.07.
Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Wednesday, November 6th. The casino operator reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.73). Wynn Resorts had a net margin of 12.41% and a return on equity of 34.98%. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter last year, the firm posted $1.68 EPS. The business’s revenue was down 3.6% on a year-over-year basis. Analysts forecast that Wynn Resorts will post 5.21 EPS for the current year.
In other Wynn Resorts news, CEO Matt Maddox sold 25,000 shares of Wynn Resorts stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $110.24, for a total transaction of $2,756,000.00. Following the completion of the sale, the chief executive officer now owns 432,731 shares of the company’s stock, valued at approximately $47,704,265.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders sold 75,000 shares of company stock valued at $8,750,250. 0.58% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of Wynn Resorts by 24.0% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 16,148 shares of the casino operator’s stock worth $2,002,000 after acquiring an additional 3,129 shares during the period. CSat Investment Advisory L.P. lifted its stake in Wynn Resorts by 128.8% in the 2nd quarter. CSat Investment Advisory L.P. now owns 476 shares of the casino operator’s stock valued at $60,000 after purchasing an additional 268 shares during the last quarter. Gamco Investors INC. ET AL lifted its stake in Wynn Resorts by 0.8% in the 2nd quarter. Gamco Investors INC. ET AL now owns 103,166 shares of the casino operator’s stock valued at $12,792,000 after purchasing an additional 770 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Wynn Resorts by 60.4% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,328 shares of the casino operator’s stock valued at $165,000 after purchasing an additional 500 shares during the last quarter. Finally, Beddow Capital Management Inc. lifted its stake in Wynn Resorts by 0.3% in the 2nd quarter. Beddow Capital Management Inc. now owns 45,885 shares of the casino operator’s stock valued at $5,689,000 after purchasing an additional 125 shares during the last quarter. 75.66% of the stock is owned by hedge funds and other institutional investors.
About Wynn Resorts
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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