Wynn Resorts (NASDAQ:WYNN – Get Free Report) had its price target dropped by equities research analysts at JPMorgan Chase & Co. from $115.00 to $112.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the casino operator’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 34.76% from the company’s previous close.
WYNN has been the subject of several other reports. Wells Fargo & Company decreased their price objective on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Friday. Susquehanna restated a “positive” rating and set a $95.00 price objective on shares of Wynn Resorts in a research report on Friday. Mizuho dropped their target price on shares of Wynn Resorts from $133.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday, July 28th. Argus lifted their target price on shares of Wynn Resorts from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Wall Street Zen lowered shares of Wynn Resorts from a “hold” rating to a “sell” rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $121.06.
Get Our Latest Stock Report on Wynn Resorts
Wynn Resorts Stock Performance
NASDAQ WYNN opened at $83.11 on Friday. Wynn Resorts has a one year low of $70.79 and a one year high of $134.72. The stock has a 50-day moving average of $80.68 and a 200 day moving average of $97.68. The company has a market capitalization of $8.56 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 1.02 and a beta of 0.96.
Wynn Resorts (NASDAQ:WYNN – Get Free Report) last posted its earnings results on Thursday, November 5th. The casino operator reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.19). The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.75 billion. Wynn Resorts had a net margin of 5.20% and a negative return on equity of 42.73%. Wynn Resorts’s revenue was down 7.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.86 EPS. On average, equities analysts predict that Wynn Resorts will post 4.24 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Wynn Resorts
Large investors have recently made changes to their positions in the company. Aberdeen Group plc lifted its stake in shares of Wynn Resorts by 843.9% in the 3rd quarter. Aberdeen Group plc now owns 34,358 shares of the casino operator’s stock worth $2,729,000 after purchasing an additional 30,718 shares during the period. Legacy Trust boosted its holdings in shares of Wynn Resorts by 1.1% in the third quarter. Legacy Trust now owns 36,951 shares of the casino operator’s stock worth $2,759,000 after buying an additional 412 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Wynn Resorts by 53.3% in the third quarter. Russell Investments Group Ltd. now owns 50,874 shares of the casino operator’s stock worth $4,041,000 after buying an additional 17,686 shares during the last quarter. Fifth Third Bancorp grew its position in Wynn Resorts by 3.8% during the third quarter. Fifth Third Bancorp now owns 7,326 shares of the casino operator’s stock valued at $582,000 after buying an additional 269 shares during the period. Finally, Keybank National Association OH grew its position in Wynn Resorts by 5.7% during the third quarter. Keybank National Association OH now owns 17,176 shares of the casino operator’s stock valued at $1,364,000 after buying an additional 932 shares during the period. 88.64% of the stock is currently owned by institutional investors.
About Wynn Resorts
Wynn Resorts, Limited develops and operates luxury hotels and casino resorts. Its properties offer gaming, hotel accommodations, restaurants, retail, entertainment, and convention and meeting facilities.
The company’s portfolio includes Wynn Las Vegas and Encore in Nevada, Encore Boston Harbor in Massachusetts, and Wynn Macau and Wynn Palace in Macau. Its operations therefore span the United States and Macau, a special administrative region of China.
Founded in 2002, Wynn Resorts opened Wynn Las Vegas in 2005.
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