Deutsche Bank Aktiengesellschaft Trims Wynn Resorts (NASDAQ:WYNN) Target Price to $122.00

Wynn Resorts (NASDAQ:WYNN) had its target price decreased by research analysts at Deutsche Bank Aktiengesellschaft from $131.00 to $122.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the casino operator’s stock. Deutsche Bank Aktiengesellschaft’s target price indicates a potential upside of 62.39% from the company’s previous close.

Other research analysts have also issued research reports about the company. Citigroup increased their price target on Wynn Resorts from $132.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Seaport Res Ptn upgraded Wynn Resorts from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 30th. Argus upgraded Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a report on Thursday, May 23rd. Barclays boosted their target price on shares of Wynn Resorts from $124.00 to $128.00 and gave the stock an “overweight” rating in a research report on Thursday, May 9th. Finally, Morgan Stanley dropped their price target on shares of Wynn Resorts from $115.00 to $107.00 and set an “equal weight” rating on the stock in a research note on Friday, July 12th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.20.

Wynn Resorts Price Performance

Shares of WYNN traded down $1.16 during mid-day trading on Wednesday, reaching $75.13. 2,899,983 shares of the company’s stock were exchanged, compared to its average volume of 1,881,959. The business’s fifty day simple moving average is $86.75 and its 200-day simple moving average is $95.15. Wynn Resorts has a 52-week low of $71.63 and a 52-week high of $110.38. The stock has a market capitalization of $8.42 billion, a PE ratio of 10.31 and a beta of 1.82.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.02). Wynn Resorts had a net margin of 12.36% and a negative return on equity of 46.04%. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the previous year, the firm earned $0.91 EPS. The firm’s revenue was up 8.4% on a year-over-year basis. Equities research analysts predict that Wynn Resorts will post 5.62 earnings per share for the current year.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, Director Betsy S. Atkins sold 2,446 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $94.39, for a total transaction of $230,877.94. Following the completion of the sale, the director now directly owns 9,226 shares in the company, valued at $870,842.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.52% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. International Assets Investment Management LLC bought a new stake in shares of Wynn Resorts in the 2nd quarter valued at about $25,000. ICA Group Wealth Management LLC acquired a new position in shares of Wynn Resorts during the fourth quarter worth about $27,000. Register Financial Advisors LLC acquired a new position in Wynn Resorts during the first quarter worth $37,000. GAMMA Investing LLC bought a new position in Wynn Resorts in the fourth quarter valued at approximately $38,000. Finally, Federated Hermes Inc. boosted its stake in shares of Wynn Resorts by 47.5% during the 4th quarter. Federated Hermes Inc. now owns 435 shares of the casino operator’s stock worth $40,000 after acquiring an additional 140 shares during the period. 68.87% of the stock is currently owned by institutional investors and hedge funds.

About Wynn Resorts

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.