Wynn Resorts Ltd. (WYNN) Rating Reiterated by Gabelli
Wynn Resorts Ltd. (NASDAQ:WYNN)‘s stock had its “buy” rating reissued by equities research analysts at Gabelli in a report issued on Monday. They currently have a $124.00 price objective on the casino operator’s stock. Gabelli’s price objective suggests a potential upside of 33.36% from the company’s current price.
Several other equities research analysts have also issued reports on WYNN. Deutsche Bank AG reaffirmed a “hold” rating on shares of Wynn Resorts in a research report on Sunday, June 26th. Vetr lowered Wynn Resorts from a “buy” rating to a “hold” rating and set a $103.36 target price for the company. in a research report on Tuesday, July 26th. Telsey Advisory Group raised their target price on Wynn Resorts from $112.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, July 29th. JPMorgan Chase & Co. decreased their target price on Wynn Resorts from $94.00 to $93.00 and set a “neutral” rating for the company in a research report on Friday, July 29th. Finally, Nomura lowered Wynn Resorts from a “neutral” rating to a “reduce” rating and raised their target price for the company from $78.00 to $83.00 in a research report on Friday, July 29th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $103.60.
Shares of Wynn Resorts (NASDAQ:WYNN) opened at 92.98 on Monday. The company has a market cap of $9.43 billion, a PE ratio of 28.77 and a beta of 1.85. The company’s 50-day moving average is $98.58 and its 200 day moving average is $96.35. Wynn Resorts has a 52-week low of $49.95 and a 52-week high of $109.50.
Wynn Resorts (NASDAQ:WYNN) last announced its 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 return on equity of 3,746.24% and a net margin of 7.67%. The firm earned $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the firm posted $0.74 EPS. The business’s revenue was up 1.7% compared to the same quarter last year. On average, analysts anticipate that Wynn Resorts will post $3.77 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the company. Nicholas Investment Partners LP purchased a new stake in Wynn Resorts during the first quarter worth $28,029,000. Marsico Capital Management LLC bought a new position in shares of Wynn Resorts during the first quarter worth approximately $3,860,000. Crystal Rock Capital Management boosted its position in shares of Wynn Resorts by 6.7% in the first quarter. Crystal Rock Capital Management now owns 82,710 shares of the casino operator’s stock worth $7,728,000 after buying an additional 5,210 shares during the period. Pictet Asset Management Ltd. boosted its position in shares of Wynn Resorts by 2.2% in the first quarter. Pictet Asset Management Ltd. now owns 42,051 shares of the casino operator’s stock worth $3,468,000 after buying an additional 900 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its position in shares of Wynn Resorts by 6.8% in the first quarter. UBS Asset Management Americas Inc. now owns 234,362 shares of the casino operator’s stock worth $21,896,000 after buying an additional 14,915 shares during the period. Institutional investors own 74.57% of the company’s stock.
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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