Wynn Resorts (NASDAQ:WYNN) had its price objective boosted by equities researchers at Nomura from $210.00 to $215.00 in a research report issued on Wednesday. The firm presently has a “buy” rating on the casino operator’s stock. Nomura’s price objective would indicate a potential upside of 16.68% from the stock’s current price.
Several other brokerages have also recently commented on WYNN. Zacks Investment Research cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Saturday, February 10th. Morgan Stanley reduced their target price on shares of Wynn Resorts from $210.00 to $193.00 and set a “buy” rating for the company in a report on Tuesday, January 30th. Vetr cut shares of Wynn Resorts from a “strong-buy” rating to a “buy” rating and set a $211.61 target price for the company. in a report on Monday, March 12th. Stifel Nicolaus restated a “hold” rating and set a $201.00 target price (up previously from $153.00) on shares of Wynn Resorts in a report on Tuesday, January 23rd. Finally, Roth Capital restated a “neutral” rating and set a $170.00 target price on shares of Wynn Resorts in a report on Wednesday, February 7th. Nine investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Wynn Resorts has an average rating of “Buy” and an average target price of $192.48.
Wynn Resorts stock opened at $184.26 on Wednesday. The company has a market capitalization of $19,599.85, a PE ratio of 33.75 and a beta of 1.40. Wynn Resorts has a twelve month low of $119.17 and a twelve month high of $203.63. The company has a quick ratio of 1.74, a current ratio of 1.77 and a debt-to-equity ratio of 8.87.
Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Tuesday, April 24th. The casino operator reported $2.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.32. Wynn Resorts had a net margin of 6.75% and a return on equity of 107.62%. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the prior year, the company posted $1.24 earnings per share. The firm’s revenue was up 20.5% on a year-over-year basis. equities research analysts predict that Wynn Resorts will post 7.84 EPS for the current fiscal year.
In other Wynn Resorts news, major shareholder Stephen A. Wynn sold 4,104,999 shares of the company’s stock in a transaction on Wednesday, March 21st. The shares were sold at an average price of $180.00, for a total transaction of $738,899,820.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 13.20% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Mackenzie Financial Corp raised its position in Wynn Resorts by 1,522.7% during the fourth quarter. Mackenzie Financial Corp now owns 371,560 shares of the casino operator’s stock worth $62,641,000 after acquiring an additional 348,662 shares in the last quarter. Virtue Capital Management LLC bought a new stake in Wynn Resorts during the fourth quarter worth $549,000. Oakbrook Investments LLC raised its position in Wynn Resorts by 78.3% during the fourth quarter. Oakbrook Investments LLC now owns 6,845 shares of the casino operator’s stock worth $1,154,000 after acquiring an additional 3,005 shares in the last quarter. American Assets Capital Advisers LLC raised its position in Wynn Resorts by 62.5% during the fourth quarter. American Assets Capital Advisers LLC now owns 130,000 shares of the casino operator’s stock worth $21,916,000 after acquiring an additional 50,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Wynn Resorts by 9.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 93,205 shares of the casino operator’s stock worth $15,714,000 after acquiring an additional 7,965 shares in the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.
About Wynn Resorts
Wynn Resorts, Limited develops, owns, and operates destination casino resorts. As of February 15, 2018, the company's Wynn Macau segment had approximately 273,000 square feet of casino space, which offered 316 table games and 988 slot machines, private gaming salons, sky casinos, and a poker pit; 2 luxury hotel towers with a total of 1,008 guest rooms and suites; 8 food and beverage outlets; 59,000 square feet of retail space; 31,000 square feet of meeting and convention space; recreation and leisure facilities comprising 2 health clubs, spas, a salon, and a pool; and a rotunda show, a Chinese zodiac-inspired ceiling.
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