Wynn Resorts (NASDAQ:WYNN) Given New $120.00 Price Target at Barclays

Wynn Resorts (NASDAQ:WYNN) had its price target lowered by research analysts at Barclays from $128.00 to $120.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the casino operator’s stock. Barclays‘s target price suggests a potential upside of 44.43% from the stock’s current price.

A number of other brokerages have also recently commented on WYNN. Citigroup decreased their target price on shares of Wynn Resorts from $135.00 to $103.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Truist Financial lowered their price target on shares of Wynn Resorts from $125.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, October 20th. Stifel Nicolaus set a $110.00 price target on shares of Wynn Resorts in a research report on Friday. JPMorgan Chase & Co. reduced their price objective on Wynn Resorts from $134.00 to $115.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 20th. Finally, Wells Fargo & Company decreased their price objective on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $123.12.

Wynn Resorts Price Performance

NASDAQ WYNN traded up $3.77 on Friday, reaching $83.08. 1,727,439 shares of the company’s stock traded hands, compared to its average volume of 1,725,388. The stock has a market cap of $8.56 billion, a PE ratio of 20.66, a P/E/G ratio of 1.00 and a beta of 0.96. Wynn Resorts has a 12 month low of $70.79 and a 12 month high of $134.72. The stock has a 50-day simple moving average of $80.89 and a 200 day simple moving average of $97.82.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, November 5th. The casino operator reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.19). Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%. The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the previous year, the firm posted $0.86 earnings per share. The company’s revenue was down 7.9% compared to the same quarter last year. As a group, analysts anticipate that Wynn Resorts will post 4.26 EPS for the current year.

Hedge Funds Weigh In On Wynn Resorts

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Wynn Resorts in the second quarter worth about $609,566,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Wynn Resorts during the 2nd quarter valued at about $321,402,000. Alyeska Investment Group L.P. bought a new position in Wynn Resorts during the 2nd quarter valued at approximately $99,277,000. Bank of America Corp DE bought a new position in Wynn Resorts during the 2nd quarter valued at approximately $74,504,000. Finally, Bamco Inc. NY bought a new position in Wynn Resorts during the 2nd quarter valued at approximately $67,219,000. 88.64% of the stock is owned by institutional investors.

Key Stories Impacting Wynn Resorts

Here are the key news stories impacting Wynn Resorts this week:

• Positive Sentiment: Wells Fargo maintained an “overweight” rating despite trimming its price target to $122, implying substantial upside from the cited share price. Wynn also declared a quarterly dividend of $0.25 per share. Wells Fargo price target Dividend announcement
• Neutral Sentiment: Jefferies and Mizuho also reduced their price targets—to $132 and $129, respectively—but both targets remain well above the share price. Wynn says its Al Marjan Island resort remains on track for a September 2027 opening, although $465 million–$590 million in additional equity is still expected. Jefferies price target Mizuho price target Al Marjan funding and timeline
• Negative Sentiment: Third-quarter results missed expectations: EPS was $0.33 versus the cited $0.52 consensus, and revenue of $1.69 billion fell short of estimates of $1.75 billion and declined 7.9% year over year. Reports also described lower results across all four operating segments, with Macau VIP weakness weighing on performance. The earnings shortfall and broad-based declines are the clearest near-term downside catalysts. Third-quarter results Operating segment results

Wynn Resorts Company Profile

Wynn Resorts, Ltd. is a developer and operator of luxury integrated resorts, with a focus on destination casinos, hotels, restaurants, entertainment venues, retail, and convention facilities. Its properties are designed to combine gaming with premium hospitality and leisure experiences.

The company operates Wynn Las Vegas and Encore Las Vegas in Nevada, Encore Boston Harbor in Massachusetts, and Wynn Macau and Wynn Palace in Macau. These resorts serve visitors in the United States and international markets, offering accommodations, casino gaming, dining, nightlife, retail, spas, entertainment, and meeting and convention services.

Wynn Resorts was founded in 2002 by casino executive Steve Wynn.