Wells Fargo & Co. Reaffirms Neutral Rating for Wynn Resorts Ltd. (WYNN)
Wynn Resorts Ltd. (NASDAQ:WYNN)‘s stock had its “neutral” rating reaffirmed by equities researchers at Wells Fargo & Co. in a research report issued on Monday.
A number of other equities analysts have also weighed in on WYNN. Deutsche Bank AG reiterated a “hold” rating on shares of Wynn Resorts in a report on Sunday, June 26th. Vetr lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating and set a $103.36 price target on the stock. in a report on Tuesday, July 26th. Telsey Advisory Group lifted their price target on shares of Wynn Resorts from $112.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, July 29th. JPMorgan Chase & Co. decreased their price target on shares of Wynn Resorts from $94.00 to $93.00 and set a “neutral” rating on the stock in a report on Friday, July 29th. Finally, Nomura lowered shares of Wynn Resorts from a “neutral” rating to a “reduce” rating and lifted their price target for the company from $78.00 to $83.00 in a report on Friday, July 29th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $101.91.
Wynn Resorts (NASDAQ:WYNN) opened at 97.8484 on Monday. The firm has a market cap of $9.93 billion, a P/E ratio of 30.2749 and a beta of 1.85. The firm has a 50-day moving average of $98.17 and a 200 day moving average of $96.25. Wynn Resorts has a 1-year low of $49.95 and a 1-year high of $109.50.
Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Thursday, July 28th. The casino operator reported $1.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.16. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. Wynn Resorts had a net margin of 7.67% and a return on equity of 3,746.24%. Wynn Resorts’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the business earned $0.74 EPS. On average, analysts predict that Wynn Resorts will post $3.77 EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of 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 worth $100,000 after buying an additional 327 shares during the last quarter. TLP Group LLC purchased a new position in Wynn Resorts during the second quarter worth about $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 worth $115,000 after buying an additional 808 shares during the last quarter. Advisory Services Network LLC raised its position in Wynn Resorts by 171.8% in the third quarter. Advisory Services Network LLC now owns 1,582 shares of the casino operator’s stock worth $154,000 after buying an additional 1,000 shares during the last quarter. Finally, 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 worth $161,000 after buying an additional 650 shares during the last quarter. 74.48% of the stock is owned by hedge funds and other 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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