Citigroup Increases Wynn Resorts (NASDAQ:WYNN) Price Target to $138.00

Wynn Resorts (NASDAQ:WYNN) had its target price hoisted by investment analysts at Citigroup from $132.00 to $138.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the casino operator’s stock. Citigroup’s price target would indicate a potential upside of 41.99% from the stock’s current price.

Several other research analysts have also weighed in on the stock. Susquehanna increased their target price on shares of Wynn Resorts from $105.00 to $115.00 and gave the stock a “positive” rating in a research note on Thursday, February 8th. StockNews.com upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating in a report on Thursday, April 4th. Barclays upped their price target on Wynn Resorts from $123.00 to $124.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. JPMorgan Chase & Co. lifted their price objective on Wynn Resorts from $118.00 to $123.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. Finally, Macquarie increased their target price on Wynn Resorts from $122.00 to $128.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $122.93.

Wynn Resorts Stock Performance

WYNN stock opened at $97.19 on Wednesday. Wynn Resorts has a one year low of $81.65 and a one year high of $113.50. The firm has a market cap of $10.89 billion, a PE ratio of 16.25 and a beta of 1.91. The firm’s 50 day moving average price is $100.08 and its 200-day moving average price is $95.40.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Tuesday, May 7th. The casino operator reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.16. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.80 billion. Wynn Resorts had a negative return on equity of 31.17% and a net margin of 11.18%. The company’s revenue for the quarter was up 30.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.29 earnings per share. Equities research analysts predict that Wynn Resorts will post 5.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Wynn Resorts by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 10,862,024 shares of the casino operator’s stock valued at $989,639,000 after purchasing an additional 41,251 shares in the last quarter. Fisher Asset Management LLC raised its stake in Wynn Resorts by 0.5% in the fourth quarter. Fisher Asset Management LLC now owns 3,931,323 shares of the casino operator’s stock valued at $358,183,000 after buying an additional 20,091 shares in the last quarter. Norges Bank purchased a new stake in Wynn Resorts during the 4th quarter worth about $157,305,000. Invesco Ltd. boosted its position in shares of Wynn Resorts by 20.7% during the 3rd quarter. Invesco Ltd. now owns 1,449,064 shares of the casino operator’s stock worth $133,908,000 after acquiring an additional 248,820 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Wynn Resorts by 15.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 977,064 shares of the casino operator’s stock valued at $90,291,000 after acquiring an additional 128,094 shares during the last quarter. Institutional investors and hedge funds 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.