Jefferies Financial Group Lowers Wynn Resorts (NASDAQ:WYNN) Price Target to $150.00

Wynn Resorts (NASDAQ:WYNN) had its target price cut by Jefferies Financial Group from $161.00 to $150.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the casino operator’s stock. Jefferies Financial Group’s price objective indicates a potential upside of 49.36% from the stock’s current price.

A number of other analysts also recently weighed in on WYNN. JPMorgan Chase & Co. boosted their target price on shares of Wynn Resorts from $138.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, December 8th. Weiss Ratings restated a “hold (c+)” rating on shares of Wynn Resorts in a report on Monday, December 29th. Stifel Nicolaus reduced their target price on shares of Wynn Resorts from $160.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Mizuho boosted their target price on shares of Wynn Resorts from $131.00 to $134.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Finally, UBS Group restated a “buy” rating on shares of Wynn Resorts in a report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $138.53.

Wynn Resorts Stock Performance

Shares of NASDAQ WYNN opened at $100.43 on Monday. Wynn Resorts has a 52-week low of $65.25 and a 52-week high of $134.72. The company has a market cap of $10.45 billion, a P/E ratio of 33.48, a P/E/G ratio of 8.67 and a beta of 1.04. The firm’s fifty day moving average is $106.37 and its two-hundred day moving average is $116.87.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Thursday, February 12th. The casino operator reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.16). Wynn Resorts had a negative return on equity of 39.05% and a net margin of 4.59%.The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter last year, the firm earned $2.42 earnings per share. The business’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, analysts forecast that Wynn Resorts will post 5.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Wynn Resorts

A number of large investors have recently made changes to their positions in WYNN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Wynn Resorts by 10.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,961 shares of the casino operator’s stock worth $665,000 after purchasing an additional 754 shares during the period. Woodline Partners LP boosted its stake in shares of Wynn Resorts by 36.2% during the 1st quarter. Woodline Partners LP now owns 7,568 shares of the casino operator’s stock worth $632,000 after purchasing an additional 2,012 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of Wynn Resorts by 69.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after purchasing an additional 156 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Wynn Resorts by 13.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,659 shares of the casino operator’s stock worth $155,000 after purchasing an additional 201 shares during the period. Finally, 1832 Asset Management L.P. purchased a new position in shares of Wynn Resorts during the 2nd quarter worth about $889,000. 88.64% of the stock is owned by hedge funds and other institutional investors.

About Wynn Resorts

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.