Wynn Resorts (NASDAQ:WYNN) PT Lowered to $126.00

Wynn Resorts (NASDAQ:WYNN) had its target price lowered by stock analysts at Macquarie from $128.00 to $126.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the casino operator’s stock. Macquarie’s target price would suggest a potential upside of 50.16% from the company’s current price.

WYNN has been the topic of several other research reports. StockNews.com upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. Seaport Res Ptn raised Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 30th. Stifel Nicolaus increased their price objective on Wynn Resorts from $135.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Citigroup boosted their target price on Wynn Resorts from $132.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Finally, Morgan Stanley increased their price target on shares of Wynn Resorts from $107.00 to $114.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Wynn Resorts has an average rating of “Moderate Buy” and a consensus target price of $121.00.

Wynn Resorts Trading Down 1.0 %

NASDAQ:WYNN opened at $83.91 on Tuesday. The firm’s 50 day moving average is $92.25 and its 200 day moving average is $96.66. Wynn Resorts has a 12 month low of $81.65 and a 12 month high of $112.25. The stock has a market capitalization of $9.40 billion, a PE ratio of 11.49 and a beta of 1.82.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Tuesday, May 7th. The casino operator reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.16. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.80 billion. Wynn Resorts had a net margin of 12.36% and a negative return on equity of 46.04%. The company’s quarterly revenue was up 30.9% on a year-over-year basis. During the same quarter last year, the business earned $0.29 earnings per share. Research analysts predict that Wynn Resorts will post 5.63 earnings per share for the current year.

Insider Activity at Wynn Resorts

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

Hedge Funds Weigh In On Wynn Resorts

A number of hedge funds have recently added to or reduced their stakes in WYNN. Blue Trust Inc. increased its position in shares of Wynn Resorts by 3,000.0% in the fourth quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock valued at $25,000 after buying an additional 270 shares in the last quarter. ICA Group Wealth Management LLC purchased a new position in Wynn Resorts in the 4th quarter valued at about $27,000. Sunbelt Securities Inc. boosted its holdings in Wynn Resorts by 4,285.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock worth $28,000 after buying an additional 300 shares during the last quarter. Register Financial Advisors LLC purchased a new stake in Wynn Resorts during the 1st quarter worth approximately $37,000. Finally, GAMMA Investing LLC purchased a new stake in shares of Wynn Resorts in the 4th quarter valued at approximately $38,000. 68.87% of the stock is currently owned by institutional investors.

Wynn Resorts Company Profile

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.