Wynn Resorts (WYNN) PT Lowered to $114.00

Wynn Resorts (NASDAQ:WYNN) had its target price cut by equities research analysts at Jefferies Financial Group from $170.00 to $114.00 in a research report issued on Thursday, MarketBeat.com reports. The firm presently has a “hold” rating on the casino operator’s stock. Jefferies Financial Group’s price target suggests a potential upside of 15.95% from the company’s previous close.

Several other analysts have also recently weighed in on the stock. Credit Suisse Group dropped their price target on shares of Wynn Resorts from $137.00 to $119.00 and set a “neutral” rating for the company in a research note on Tuesday, October 23rd. Bank of America reissued a “hold” rating and issued a $125.00 price target on shares of Wynn Resorts in a research note on Tuesday, October 16th. ValuEngine cut shares of Wynn Resorts from a “sell” rating to a “strong sell” rating in a research note on Friday, September 7th. BidaskClub cut shares of Wynn Resorts from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 29th. Finally, Barclays dropped their price target on shares of Wynn Resorts from $224.00 to $213.00 and set an “overweight” rating for the company in a research note on Thursday, August 2nd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $168.11.

Wynn Resorts stock opened at $98.32 on Thursday. Wynn Resorts has a 1-year low of $92.50 and a 1-year high of $203.63. The company has a debt-to-equity ratio of 4.47, a current ratio of 1.08 and a quick ratio of 1.04. The company has a market capitalization of $12.38 billion, a PE ratio of 16.50, a PEG ratio of 0.78 and a beta of 1.56.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Wednesday, November 7th. The casino operator reported $1.68 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.01). Wynn Resorts had a net margin of 8.92% and a return on equity of 59.67%. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period last year, the company earned $1.52 EPS. The business’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, equities analysts forecast that Wynn Resorts will post 7.2 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC boosted its position in shares of Wynn Resorts by 115.4% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 614 shares of the casino operator’s stock worth $103,000 after purchasing an additional 329 shares during the period. Dupont Capital Management Corp lifted its holdings in Wynn Resorts by 87.9% during the 2nd quarter. Dupont Capital Management Corp now owns 823 shares of the casino operator’s stock worth $138,000 after buying an additional 385 shares in the last quarter. Redpoint Investment Management Pty Ltd lifted its holdings in Wynn Resorts by 21.6% during the 2nd quarter. Redpoint Investment Management Pty Ltd now owns 2,226 shares of the casino operator’s stock worth $372,000 after buying an additional 395 shares in the last quarter. Securian Asset Management Inc lifted its holdings in Wynn Resorts by 4.9% during the 2nd quarter. Securian Asset Management Inc now owns 8,751 shares of the casino operator’s stock worth $1,464,000 after buying an additional 407 shares in the last quarter. Finally, Oppenheimer & Co. Inc. lifted its holdings in Wynn Resorts by 8.4% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 5,463 shares of the casino operator’s stock worth $914,000 after buying an additional 422 shares in the last quarter. 75.23% of the stock is owned by hedge funds and other institutional investors.

Wynn Resorts Company Profile

Wynn Resorts, Limited 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 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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Analyst Recommendations for Wynn Resorts (NASDAQ:WYNN)

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