Wynn Resorts’ (WYNN) “Outperform” Rating Reaffirmed at Macquarie

Wynn Resorts (NASDAQ:WYNN)‘s stock had its “outperform” rating reiterated by analysts at Macquarie in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $120.00 price target on the casino operator’s stock. Macquarie’s price target would indicate a potential upside of 36.66% from the stock’s previous close.

A number of other research firms have also recently commented on WYNN. Morgan Stanley upped their price target on Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group dropped their target price on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. JPMorgan Chase & Co. increased their target price on shares of Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a research note on Tuesday. Wells Fargo & Company decreased their target price on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $115.71.

Wynn Resorts Stock Down 8.2 %

Shares of Wynn Resorts stock traded down $7.84 on Tuesday, hitting $87.81. 4,802,756 shares of the company were exchanged, compared to its average volume of 2,126,526. The stock has a market capitalization of $9.75 billion, a price-to-earnings ratio of 11.90, a price-to-earnings-growth ratio of 2.48 and a beta of 1.80. The company has a 50-day moving average price of $90.19 and a 200 day moving average price of $88.75. Wynn Resorts has a 1-year low of $71.63 and a 1-year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.11). Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the firm earned $0.99 earnings per share. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. Research analysts forecast that Wynn Resorts will post 5.42 EPS for the current year.

Insider Transactions at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,650 shares of the company’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 value of $208,634.50. Following the completion of the sale, the director now directly owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Wynn Resorts

Large investors have recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new stake in shares of Wynn Resorts during the second quarter valued at approximately $25,000. Blue Trust Inc. grew its holdings in shares of Wynn Resorts by 556.0% during the 3rd quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after acquiring an additional 467 shares in the last quarter. Versant Capital Management Inc purchased a new position in shares of Wynn Resorts during the 2nd quarter valued at $51,000. Covestor Ltd grew its holdings in shares of Wynn Resorts by 421.7% during the 1st quarter. Covestor Ltd now owns 626 shares of the casino operator’s stock valued at $64,000 after acquiring an additional 506 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Wynn Resorts by 25.1% during the 2nd quarter. GAMMA Investing LLC now owns 828 shares of the casino operator’s stock valued at $74,000 after acquiring an additional 166 shares in 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.