JPMorgan Chase & Co. Raises Wynn Resorts (NASDAQ:WYNN) Price Target to $145.00

Wynn Resorts (NASDAQ:WYNN) had its target price lifted by stock analysts at JPMorgan Chase & Co. from $138.00 to $145.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the casino operator’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 16.73% from the stock’s previous close.

A number of other equities research analysts have also weighed in on WYNN. Zacks Research lowered Wynn Resorts from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Weiss Ratings restated a “hold (c+)” rating on shares of Wynn Resorts in a research note on Monday, December 1st. Mizuho lifted their price objective on Wynn Resorts from $126.00 to $131.00 and gave the company an “outperform” rating in a report on Thursday, November 13th. Wells Fargo & Company started coverage on shares of Wynn Resorts in a report on Tuesday, November 18th. They set an “overweight” rating and a $151.00 target price on the stock. Finally, Jefferies Financial Group raised their target price on shares of Wynn Resorts from $146.00 to $155.00 and gave the company a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Wynn Resorts currently has an average rating of “Moderate Buy” and a consensus price target of $139.15.

Wynn Resorts Price Performance

Wynn Resorts stock opened at $124.22 on Monday. The stock has a market cap of $12.92 billion, a price-to-earnings ratio of 27.79, a price-to-earnings-growth ratio of 8.72 and a beta of 1.10. The firm has a 50-day moving average of $123.55 and a two-hundred day moving average of $113.40. Wynn Resorts has a 1 year low of $65.25 and a 1 year high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Thursday, November 6th. The casino operator reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.23). The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Wynn Resorts had a negative return on equity of 54.88% and a net margin of 7.09%.The business’s revenue was up 8.3% compared to the same quarter last year. During the same period last year, the business posted $0.90 earnings per share. Research analysts expect that Wynn Resorts will post 5.17 earnings per share for the current year.

Institutional Investors Weigh In On Wynn Resorts

Several institutional investors have recently bought and sold shares of the company. Dagco Inc. acquired a new position in shares of Wynn Resorts during the first quarter worth $25,000. AlphaQuest LLC purchased a new position in Wynn Resorts during the 1st quarter worth $25,000. MUFG Securities EMEA plc acquired a new position in Wynn Resorts during the 2nd quarter valued at about $25,000. Root Financial Partners LLC purchased a new stake in Wynn Resorts in the third quarter valued at about $26,000. Finally, Manchester Capital Management LLC raised its stake in Wynn Resorts by 1,500.0% in the second quarter. Manchester Capital Management LLC now owns 320 shares of the casino operator’s stock valued at $30,000 after buying an additional 300 shares during the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.

About Wynn Resorts

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.