Wynn Resorts (NASDAQ:WYNN) Stock Rating Upgraded by Morgan Stanley

Wynn Resorts (NASDAQ:WYNN) was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Friday, FinViz reports. The firm presently has a $104.00 price target on the casino operator’s stock, up from their prior price target of $97.00. Morgan Stanley’s target price indicates a potential upside of 14.25% from the company’s current price.

A number of other research firms have also recently commented on WYNN. Jefferies Financial Group cut their target price on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Wynn Resorts from $131.00 to $122.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. UBS Group raised shares of Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Finally, Seaport Res Ptn upgraded shares of Wynn Resorts from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 30th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $114.20.

Wynn Resorts Trading Up 8.2 %

Shares of WYNN stock opened at $91.03 on Friday. The company’s fifty day moving average price is $78.34 and its 200-day moving average price is $89.32. The stock has a market cap of $10.20 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 2.17 and a beta of 1.80. Wynn Resorts has a 12 month low of $71.63 and a 12 month high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the prior year, the business posted $0.91 EPS. Wynn Resorts’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, sell-side analysts forecast that Wynn Resorts will post 5.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the sale, the director now owns 5,689 shares in the company, valued at approximately $447,894.97. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Wynn Resorts

A number of institutional investors have recently bought and sold shares of the business. Interval Partners LP lifted its position in shares of Wynn Resorts by 999.0% in the first quarter. Interval Partners LP now owns 400,911 shares of the casino operator’s stock valued at $40,985,000 after acquiring an additional 364,432 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Wynn Resorts by 29.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock worth $120,386,000 after purchasing an additional 303,033 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in Wynn Resorts by 6,720.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 257,537 shares of the casino operator’s stock worth $23,050,000 after purchasing an additional 253,761 shares during the period. Janus Henderson Group PLC grew its holdings in Wynn Resorts by 22.2% during the 1st quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock valued at $115,082,000 after buying an additional 204,852 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Wynn Resorts by 1.5% during the first quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock valued at $1,127,456,000 after buying an additional 166,594 shares during the last quarter. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Wynn Resorts Company Profile

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.