Wynn Resorts (WYNN) Coverage Initiated at Sanford C. Bernstein

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Research analysts at Sanford C. Bernstein assumed coverage on shares of Wynn Resorts (NASDAQ:WYNN) in a research note issued on Thursday, Marketbeat.com reports. The firm set an “outperform” rating on the casino operator’s stock.

Several other research firms have also recently weighed in on WYNN. BidaskClub cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Thursday, July 26th. Jefferies Financial Group reiterated a “buy” rating on shares of Wynn Resorts in a report on Wednesday, August 1st. Morgan Stanley reduced their price target on shares of Wynn Resorts from $200.00 to $187.00 and set a “hold” rating for the company in a report on Thursday, August 2nd. Stifel Nicolaus reduced their price target on shares of Wynn Resorts from $207.00 to $192.00 and set a “buy” rating for the company in a report on Thursday, August 2nd. Finally, Barclays reduced their price target on shares of Wynn Resorts from $224.00 to $213.00 and set an “overweight” rating for the company in a report on Thursday, August 2nd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the stock. Wynn Resorts has a consensus rating of “Hold” and an average target price of $168.11.

Shares of NASDAQ WYNN opened at $107.76 on Thursday. The company has a market cap of $11.23 billion, a P/E ratio of 14.94, a PEG ratio of 0.78 and a beta of 1.56. The company has a quick ratio of 1.11, a current ratio of 1.14 and a debt-to-equity ratio of 5.65. Wynn Resorts has a 52-week low of $92.50 and a 52-week high of $203.63.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Wednesday, November 7th. The casino operator reported $1.68 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.69 by ($0.01). The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.67 billion. Wynn Resorts had a net margin of 8.92% and a return on equity of 56.04%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.52 EPS. As a group, equities research analysts predict that Wynn Resorts will post 6.65 earnings per share for the current year.

In other Wynn Resorts news, Director Philip G. Satre acquired 9,800 shares of the business’s stock in a transaction dated Tuesday, November 13th. The shares were acquired at an average price of $103.01 per share, with a total value of $1,009,498.00. Following the completion of the transaction, the director now directly owns 100 shares in the company, valued at approximately $10,301. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.95% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC raised its position in Wynn Resorts by 115.4% during the second quarter. Steward Partners Investment Advisory LLC now owns 614 shares of the casino operator’s stock worth $103,000 after acquiring an additional 329 shares in the last quarter. Dupont Capital Management Corp raised its position in Wynn Resorts by 87.9% during the second quarter. Dupont Capital Management Corp now owns 823 shares of the casino operator’s stock worth $138,000 after acquiring an additional 385 shares in the last quarter. Redpoint Investment Management Pty Ltd raised its position in Wynn Resorts by 21.6% during the second quarter. Redpoint Investment Management Pty Ltd now owns 2,226 shares of the casino operator’s stock worth $372,000 after acquiring an additional 395 shares in the last quarter. Securian Asset Management Inc raised its position in Wynn Resorts by 4.9% during the second quarter. Securian Asset Management Inc now owns 8,751 shares of the casino operator’s stock worth $1,464,000 after acquiring an additional 407 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its position in Wynn Resorts by 8.4% during the second quarter. Oppenheimer & Co. Inc. now owns 5,463 shares of the casino operator’s stock worth $914,000 after acquiring an additional 422 shares in the last quarter. 74.48% of the stock is currently owned by institutional investors and hedge funds.

About Wynn Resorts

Wynn Resorts, Limited owns and operates destination casino resorts. As of February 15, 2018, the company's Wynn Macau segment had approximately 273,000 square feet of casino space, which offered 316 table games and 988 slot machines, private gaming salons, sky casinos, and a poker pit; 2 luxury hotel towers with 1,008 guest rooms and suites; 8 food and beverage outlets; 59,000 square feet of retail space; 31,000 square feet of meeting and convention space; recreation and leisure facilities comprising 2 health clubs, spas, a salon, and a pool; and a rotunda show, a Chinese zodiac-inspired ceiling.

Read More: Price to Earnings Ratio (PE)

Analyst Recommendations for Wynn Resorts (NASDAQ:WYNN)

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