Wynn Resorts (NASDAQ:WYNN) Given New $150.00 Price Target at Jefferies Financial Group

Wynn Resorts (NASDAQ:WYNN) had its target price cut by equities research analysts at Jefferies Financial Group from $161.00 to $150.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the casino operator’s stock. Jefferies Financial Group’s target price indicates a potential upside of 47.10% from the stock’s current price.

A number of other research firms have also recently commented on WYNN. Susquehanna reissued a “positive” rating and issued a $133.00 target price on shares of Wynn Resorts in a research note on Thursday, February 12th. Stifel Nicolaus lowered their price target on Wynn Resorts from $160.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, February 13th. UBS Group reiterated a “buy” rating on shares of Wynn Resorts in a research note on Monday, February 23rd. Barclays raised their price objective on shares of Wynn Resorts from $141.00 to $143.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Finally, Mizuho lifted their target price on shares of Wynn Resorts from $131.00 to $134.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $138.53.

Wynn Resorts Stock Down 0.1%

Shares of NASDAQ WYNN traded down $0.06 on Monday, reaching $101.97. 305,615 shares of the company’s stock traded hands, compared to its average volume of 1,663,369. The business’s 50 day simple moving average is $106.87 and its two-hundred day simple moving average is $117.26. Wynn Resorts has a 12 month low of $65.25 and a 12 month high of $134.72. The company has a market cap of $10.61 billion, a price-to-earnings ratio of 33.99, a price-to-earnings-growth ratio of 8.67 and a beta of 1.04.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Thursday, February 12th. The casino operator reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.16). Wynn Resorts had a negative return on equity of 39.05% and a net margin of 4.59%.The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the prior year, the firm earned $2.42 earnings per share. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. Analysts forecast that Wynn Resorts will post 5.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wynn Resorts

A number of large investors have recently added to or reduced their stakes in WYNN. Pacific Heights Asset Management LLC increased its position in shares of Wynn Resorts by 30.4% during the 3rd quarter. Pacific Heights Asset Management LLC now owns 150,000 shares of the casino operator’s stock valued at $19,240,000 after purchasing an additional 35,000 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Wynn Resorts by 19.1% in the third quarter. Thrivent Financial for Lutherans now owns 891,661 shares of the casino operator’s stock worth $114,374,000 after buying an additional 142,892 shares during the last quarter. Rakuten Investment Management Inc. bought a new stake in Wynn Resorts during the third quarter valued at approximately $51,163,000. Hussman Strategic Advisors Inc. purchased a new stake in Wynn Resorts during the third quarter valued at approximately $1,347,000. Finally, Wedge Capital Management L L P NC raised its position in Wynn Resorts by 386.4% in the third quarter. Wedge Capital Management L L P NC now owns 303,986 shares of the casino operator’s stock worth $38,992,000 after acquiring an additional 241,495 shares during the period. Institutional investors own 88.64% of the company’s stock.

About Wynn Resorts

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.