Wynn Resorts (NASDAQ:WYNN – Get Free Report) had its price objective decreased by stock analysts at Stifel Nicolaus from $143.00 to $120.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the casino operator’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 56.18% from the company’s current price.
Several other research analysts have also issued reports on the company. Wells Fargo & Company reduced their price target on Wynn Resorts from $131.00 to $125.00 and set an “overweight” rating on the stock in a research report on Monday. Morgan Stanley dropped their price objective on Wynn Resorts from $128.00 to $120.00 and set an “overweight” rating for the company in a report on Monday. Weiss Ratings reissued a “hold (c)” rating on shares of Wynn Resorts in a research note on Monday, September 21st. Barclays cut their target price on Wynn Resorts from $136.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, October 9th. Finally, JPMorgan Chase & Co. reduced their target price on Wynn Resorts from $135.00 to $134.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $126.00.
Check Out Our Latest Analysis on Wynn Resorts
Wynn Resorts Stock Up 1.1%
WYNN stock traded up $0.85 during midday trading on Tuesday, reaching $76.83. The company’s stock had a trading volume of 1,157,104 shares, compared to its average volume of 1,668,309. Wynn Resorts has a 52 week low of $73.07 and a 52 week high of $134.72. The stock has a market cap of $7.91 billion, a PE ratio of 19.05, a price-to-earnings-growth ratio of 0.91 and a beta of 0.96. The business’s 50-day simple moving average is $87.26 and its 200-day simple moving average is $96.44.
Wynn Resorts (NASDAQ:WYNN – Get Free Report) last released its earnings results on Tuesday, August 4th. The casino operator reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.25. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.83 billion. Wynn Resorts had a net margin of 6.05% and a negative return on equity of 46.52%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.09 EPS. As a group, equities analysts forecast that Wynn Resorts will post 4.55 earnings per share for the current fiscal year.
Institutional Trading of Wynn Resorts
A number of institutional investors have recently modified their holdings of WYNN. State Street Corp grew its holdings in shares of Wynn Resorts by 2.6% during the second quarter. State Street Corp now owns 3,047,930 shares of the casino operator’s stock worth $295,924,000 after buying an additional 77,416 shares in the last quarter. BlackRock Inc. acquired a new stake in Wynn Resorts in the 2nd quarter valued at approximately $609,566,000. Penn Capital Management Company LLC acquired a new stake in Wynn Resorts in the 2nd quarter valued at approximately $1,752,000. Biglari Capital CORP. bought a new stake in Wynn Resorts in the 2nd quarter valued at approximately $13,961,639. Finally, Bank of America Corp DE bought a new stake in Wynn Resorts in the 2nd quarter valued at approximately $74,504,000. 88.64% of the stock is currently owned by institutional investors.
About Wynn Resorts
Wynn Resorts, Ltd. is a developer and operator of luxury integrated resorts, with a focus on destination casinos, hotels, restaurants, entertainment venues, retail, and convention facilities. Its properties are designed to combine gaming with premium hospitality and leisure experiences.
The company operates Wynn Las Vegas and Encore Las Vegas in Nevada, Encore Boston Harbor in Massachusetts, and Wynn Macau and Wynn Palace in Macau. These resorts serve visitors in the United States and international markets, offering accommodations, casino gaming, dining, nightlife, retail, spas, entertainment, and meeting and convention services.
Wynn Resorts was founded in 2002 by casino executive Steve Wynn.
See Also
- Five stocks we like better than Wynn Resorts
- Halliburton Gains Traction: Multiyear Upcycle Ahead
- Meta Platforms’ AI Comeback Faces an Earnings Test—And a $10 Billion Charge
- IonQ’s Bold Expansion Could Leave Shareholders Paying the Price
- Powering Up: Applied Digital Execs Buy $6.7M in Stock
Receive News & Ratings for Wynn Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wynn Resorts and related companies with MarketBeat.com's FREE daily email newsletter.
