Wynn Resorts’ (WYNN) “Underperform” Rating Reaffirmed at Credit Agricole SA
A number of other brokerages have also weighed in on WYNN. Nomura lowered Wynn Resorts from a neutral rating to a reduce rating and lifted their price objective for the stock from $78.00 to $83.00 in a research report on Friday, July 29th. Vetr upgraded Wynn Resorts from a buy rating to a strong-buy rating and set a $112.54 price target on the stock in a research report on Wednesday, August 10th. Morgan Stanley restated an overweight rating on shares of Wynn Resorts in a research report on Wednesday, June 29th. JPMorgan Chase & Co. lowered Wynn Resorts from an overweight rating to a neutral rating and dropped their price target for the company from $101.00 to $94.00 in a research report on Thursday, July 14th. They noted that the move was a valuation call. Finally, Susquehanna restated a neutral rating and set a $105.00 price target on shares of Wynn Resorts in a research report on Thursday, September 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $101.85.
Shares of Wynn Resorts (NASDAQ:WYNN) traded up 0.51% on Friday, reaching $93.85. The company’s stock had a trading volume of 719,214 shares. The firm’s 50-day moving average price is $98.42 and its 200-day moving average price is $96.33. Wynn Resorts has a 12 month low of $49.95 and a 12 month high of $109.50. The stock has a market cap of $9.52 billion, a P/E ratio of 29.04 and a beta of 1.85.
Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Thursday, July 28th. The casino operator reported $1.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.16. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. Wynn Resorts had a return on equity of 3,746.24% and a net margin of 7.67%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period last year, the company earned $0.74 EPS. On average, analysts forecast that Wynn Resorts will post $3.77 earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of WYNN. IFP Advisors Inc increased its stake in shares of 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 period. TLP Group LLC bought a new stake in shares of Wynn Resorts during the second quarter worth about $114,000. Mizuho Asset Management Co. Ltd. increased its stake in shares of 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 period. Advisory Services Network LLC increased its stake in shares of 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 period. Finally, Krilogy Financial LLC increased its stake in shares of 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 period. Institutional investors and hedge funds own 74.57% of the company’s stock.
Wynn Resorts Company Profile
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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