Mizuho Has Lowered Expectations for Wynn Resorts (NASDAQ:WYNN) Stock Price

Wynn Resorts (NASDAQ:WYNN) had its price target reduced by investment analysts at Mizuho from $134.00 to $133.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the casino operator’s stock. Mizuho’s price target would suggest a potential upside of 34.36% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of Wynn Resorts from $140.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday. UBS Group reissued a “buy” rating on shares of Wynn Resorts in a research note on Monday, February 23rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $137.00 target price on shares of Wynn Resorts in a research report on Friday. Stifel Nicolaus lowered their target price on shares of Wynn Resorts from $160.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Finally, Jefferies Financial Group cut their price target on Wynn Resorts from $161.00 to $150.00 and set a “buy” rating for the company in a report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $140.20.

Wynn Resorts Stock Performance

Wynn Resorts stock opened at $98.99 on Tuesday. Wynn Resorts has a fifty-two week low of $82.63 and a fifty-two week high of $134.72. The company has a market capitalization of $10.27 billion, a price-to-earnings ratio of 29.40, a PEG ratio of 5.71 and a beta of 1.01. The stock has a fifty day moving average of $103.44 and a two-hundred day moving average of $114.09.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Thursday, May 7th. The casino operator reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.07. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.82 billion. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The business’s revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.07 earnings per share. On average, analysts forecast that Wynn Resorts will post 4.9 EPS for the current fiscal year.

Hedge Funds Weigh In On Wynn Resorts

Hedge funds have recently made changes to their positions in the stock. Hantz Financial Services Inc. increased its holdings in shares of Wynn Resorts by 54.9% during the 4th quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock worth $30,000 after buying an additional 89 shares during the last quarter. Horizon Investments LLC boosted its holdings in Wynn Resorts by 6.7% in the fourth quarter. Horizon Investments LLC now owns 1,500 shares of the casino operator’s stock valued at $180,000 after acquiring an additional 94 shares during the last quarter. QRG Capital Management Inc. grew its position in Wynn Resorts by 4.9% during the first quarter. QRG Capital Management Inc. now owns 2,071 shares of the casino operator’s stock valued at $210,000 after acquiring an additional 96 shares during the period. Westside Investment Management Inc. grew its position in Wynn Resorts by 40.2% during the third quarter. Westside Investment Management Inc. now owns 338 shares of the casino operator’s stock valued at $44,000 after acquiring an additional 97 shares during the period. Finally, Parallel Advisors LLC increased its stake in Wynn Resorts by 21.6% during the third quarter. Parallel Advisors LLC now owns 563 shares of the casino operator’s stock worth $72,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Company Profile

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.