Wynn Resorts (NASDAQ:WYNN) PT Lowered to $138.00

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Wynn Resorts (NASDAQ:WYNN) had its target price cut by Stifel Nicolaus from $139.00 to $138.00 in a note issued to investors on Thursday, Stock Target Advisor reports. The brokerage currently has a “buy” rating on the casino operator’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 9.12% from the stock’s current price.

WYNN has been the topic of a number of other research reports. Citigroup set a $141.00 price objective on shares of Wynn Resorts and gave the company a “buy” rating in a research note on Thursday, September 12th. ValuEngine lowered shares of Wynn Resorts from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. Standpoint Research initiated coverage on shares of Wynn Resorts in a research note on Wednesday, September 4th. They set a “buy” rating on the stock. BidaskClub upgraded shares of Wynn Resorts from a “sell” rating to a “hold” rating in a research note on Saturday, October 12th. Finally, Union Gaming Research lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating and lowered their price objective for the company from $150.00 to $135.00 in a research note on Thursday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company’s stock. Wynn Resorts currently has a consensus rating of “Buy” and an average target price of $137.59.

NASDAQ:WYNN traded up $0.98 on Thursday, reaching $126.47. The stock had a trading volume of 1,396,900 shares, compared to its average volume of 2,073,250. The company has a 50-day moving average of $114.45 and a 200 day moving average of $120.37. Wynn Resorts has a 12-month low of $90.06 and a 12-month high of $151.50. The stock has a market cap of $13.62 billion, a P/E ratio of 19.34, a price-to-earnings-growth ratio of 2.43 and a beta of 2.07. The company has a current ratio of 1.00, a quick ratio of 0.95 and a debt-to-equity ratio of 5.00.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Wednesday, November 6th. The casino operator reported $0.17 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.73). Wynn Resorts had a net margin of 12.41% and a return on equity of 34.98%. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the previous year, the business posted $1.68 EPS. Wynn Resorts’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, equities analysts predict that Wynn Resorts will post 5.21 EPS for the current year.

In related news, CEO Matt Maddox sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $117.30, for a total transaction of $2,932,500.00. Following the completion of the sale, the chief executive officer now directly owns 459,185 shares in the company, valued at $53,862,400.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 75,000 shares of company stock valued at $8,750,250 over the last 90 days. 0.58% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Point72 Hong Kong Ltd bought a new stake in Wynn Resorts during the second quarter worth approximately $31,000. Sumitomo Mitsui Financial Group Inc. bought a new stake in Wynn Resorts during the second quarter worth approximately $35,000. Manchester Financial Inc. bought a new stake in Wynn Resorts during the second quarter worth approximately $36,000. Lenox Wealth Advisors LLC bought a new stake in Wynn Resorts during the third quarter worth approximately $35,000. Finally, Howe & Rusling Inc. bought a new stake in Wynn Resorts during the third quarter worth approximately $48,000. Hedge funds and other institutional investors own 75.66% of the company’s stock.

About Wynn Resorts

Wynn Resorts, Limited owns and operates destination casino resorts. As of February 20, 2019, the company's Wynn Palace segment had approximately 424,000 square feet of casino space, which offered 320 table games and 1,041 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas; 13 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities comprising a gondola ride, health club, spa, salon, and pool; and public attractions, such as performance lake and floral art displays.

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Analyst Recommendations for Wynn Resorts (NASDAQ:WYNN)

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