Wynn Resorts Ltd. (NASDAQ:WYNN) Receives $100.71 Consensus Target Price from Analysts
Shares of Wynn Resorts Ltd. (NASDAQ:WYNN) have received an average rating of “Hold” from the nineteen brokerages that are covering the firm. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $100.71.
A number of equities analysts have recently issued reports on the company. Vetr raised Wynn Resorts from a “hold” rating to a “buy” rating and set a $103.36 target price for the company in a research note on Monday, August 1st. Deutsche Bank AG reissued a “hold” rating on shares of Wynn Resorts in a research note on Friday, September 16th. Zacks Investment Research raised Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a research note on Monday, August 1st. JPMorgan Chase & Co. cut their target price on Wynn Resorts from $94.00 to $93.00 and set a “neutral” rating for the company in a research note on Friday, July 29th. Finally, Credit Agricole SA reissued an “underperform” rating and set a $97.00 target price on shares of Wynn Resorts in a research note on Wednesday, August 24th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc raised its position in Wynn Resorts by 44.1% in the first quarter. IFP Advisors Inc now owns 1,069 shares of the casino operator’s stock valued at $100,000 after buying an additional 327 shares during the period. TLP Group LLC bought a new position in Wynn Resorts during the second quarter valued at approximately $114,000. Mizuho Asset Management Co. Ltd. raised its position in Wynn Resorts by 176.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,266 shares of the casino operator’s stock valued at $115,000 after buying an additional 808 shares during the period. Krilogy Financial LLC raised its position in Wynn Resorts by 57.8% in the second quarter. Krilogy Financial LLC now owns 1,775 shares of the casino operator’s stock valued at $161,000 after buying an additional 650 shares during the period. Finally, Pacer Advisors Inc. raised its position in Wynn Resorts by 10.4% in the second quarter. Pacer Advisors Inc. now owns 1,814 shares of the casino operator’s stock valued at $164,000 after buying an additional 171 shares during the period. 74.48% of the stock is currently owned by institutional investors.
Shares of Wynn Resorts (NASDAQ:WYNN) opened at 97.42 on Friday. Wynn Resorts has a 52 week low of $49.95 and a 52 week high of $109.50. The firm has a market capitalization of $9.88 billion, a price-to-earnings ratio of 30.14 and a beta of 2.00. The stock has a 50 day moving average price of $98.67 and a 200-day moving average price of $95.94.
Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Thursday, July 28th. The casino operator reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.16. The business earned $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. Wynn Resorts had a return on equity of 3,746.24% and a net margin of 7.67%. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.74 EPS. On average, analysts anticipate that Wynn Resorts will post $3.81 EPS for the current year.
About Wynn Resorts
Wynn Resorts, Limited is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company operates through two segments: Macau Operations and Las Vegas Operations.
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