Wynn Resorts (NASDAQ:WYNN) Now Covered by Truist Financial

Investment analysts at Truist Financial began coverage on shares of Wynn Resorts (NASDAQ:WYNN) in a report issued on Wednesday,Benzinga reports. The firm set a “buy” rating and a $125.00 price target on the casino operator’s stock. Truist Financial’s target price would suggest a potential upside of 29.74% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Mizuho decreased their price target on shares of Wynn Resorts from $134.00 to $133.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 12th. Bank of America reduced their price objective on Wynn Resorts from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Barclays lowered their target price on Wynn Resorts from $143.00 to $139.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Wynn Resorts in a research note on Wednesday, June 24th. Finally, Jefferies Financial Group lowered their price objective on Wynn Resorts from $161.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.06.

Wynn Resorts Price Performance

Shares of WYNN opened at $96.35 on Wednesday. Wynn Resorts has a one year low of $93.15 and a one year high of $134.72. The business has a fifty day moving average of $101.62 and a 200 day moving average of $107.28. The firm has a market capitalization of $10.00 billion, a P/E ratio of 28.76, a PEG ratio of 0.89 and a beta of 0.99.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.07. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period last year, the firm posted $1.07 earnings per share. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. Analysts expect that Wynn Resorts will post 4.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. raised its position in shares of Wynn Resorts by 54.9% during the fourth quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock valued at $30,000 after buying an additional 89 shares during the last quarter. Cromwell Holdings LLC boosted its position in shares of Wynn Resorts by 68.2% during the fourth quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock worth $31,000 after acquiring an additional 103 shares during the last quarter. MUFG Securities EMEA plc purchased a new position in Wynn Resorts during the second quarter valued at $25,000. SHP Wealth Management bought a new stake in Wynn Resorts in the 4th quarter valued at $32,000. Finally, International Assets Investment Management LLC purchased a new stake in Wynn Resorts in the 4th quarter worth $34,000. 88.64% of the stock is currently owned by institutional investors.

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.