Wynn Resorts Ltd. (WYNN) Stock Rating Reaffirmed by Goldman Sachs Group Inc.
Wynn Resorts Ltd. (NASDAQ:WYNN)‘s stock had its “buy” rating reaffirmed by equities research analysts at Goldman Sachs Group Inc. in a report released on Wednesday.
Other analysts also recently issued research reports about the stock. Vetr downgraded shares of Wynn Resorts from a “strong-buy” rating to a “buy” rating and set a $100.18 price target for the company. in a research report on Wednesday, July 6th. Zacks Investment Research raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $102.00 price objective on the stock in a report on Thursday, June 30th. Buckingham Research assumed coverage on shares of Wynn Resorts in a report on Friday, August 12th. They set a “buy” rating and a $113.00 price objective on the stock. Deutsche Bank AG reaffirmed a “hold” rating on shares of Wynn Resorts in a report on Sunday, June 26th. Finally, JPMorgan Chase & Co. downgraded shares of Wynn Resorts from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $101.00 to $94.00 in a report on Thursday, July 14th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $99.91.
Wynn Resorts (NASDAQ:WYNN) traded up 1.63% during trading on Wednesday, hitting $97.95. 1,864,262 shares of the company traded hands. The company has a market capitalization of $9.94 billion, a P/E ratio of 30.31 and a beta of 1.85. Wynn Resorts has a 12-month low of $49.95 and a 12-month high of $109.50. The stock has a 50 day moving average price of $98.44 and a 200 day moving average price of $96.19.
Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, July 28th. The casino operator reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.16. Wynn Resorts had a net margin of 7.67% and a return on equity of 3,746.24%. The business earned $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the firm posted $0.74 EPS. Wynn Resorts’s revenue was up 1.7% compared to the same quarter last year. On average, equities analysts anticipate that Wynn Resorts will post $3.81 earnings per share for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Brookfield Asset Management Inc. acquired a new position in shares of Wynn Resorts during the first quarter valued at approximately $14,239,000. BlackRock Japan Co. Ltd raised its position in shares of Wynn Resorts by 2.3% in the first quarter. BlackRock Japan Co. Ltd now owns 96,902 shares of the casino operator’s stock valued at $9,054,000 after buying an additional 2,198 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Wynn Resorts by 0.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,054,223 shares of the casino operator’s stock valued at $191,926,000 after buying an additional 5,427 shares during the last quarter. BlackRock Group LTD raised its position in shares of Wynn Resorts by 0.7% in the first quarter. BlackRock Group LTD now owns 635,440 shares of the casino operator’s stock valued at $59,370,000 after buying an additional 4,714 shares during the last quarter. Finally, RMB Capital Management LLC acquired a new position in shares of Wynn Resorts during the first quarter valued at approximately $316,000. 74.48% of the stock is owned by institutional investors.
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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