Wynn Resorts (NASDAQ:WYNN) Price Target Cut to $133.00 by Analysts at Mizuho

Wynn Resorts (NASDAQ:WYNN) had its price target cut by stock analysts at Mizuho from $134.00 to $133.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the casino operator’s stock. Mizuho’s price target points to a potential upside of 34.36% from the stock’s current price.

WYNN has been the subject of several other reports. Jefferies Financial Group lowered 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. Wells Fargo & Company set a $142.00 price objective on Wynn Resorts and gave the stock an “overweight” rating in a research note on Sunday. Stifel Nicolaus decreased their target price on Wynn Resorts from $160.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Susquehanna lowered their target price on Wynn Resorts from $133.00 to $127.00 and set a “positive” rating for the company in a research note on Thursday, April 16th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $137.00 target price on shares of Wynn Resorts in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $140.20.

Wynn Resorts Stock Down 0.4%

WYNN opened at $98.99 on Tuesday. Wynn Resorts has a 52-week low of $82.63 and a 52-week high of $134.72. The company has a 50 day moving average of $103.44 and a two-hundred day moving average of $114.09. The company has a market cap of $10.27 billion, a P/E ratio of 29.40, a P/E/G ratio of 5.71 and a beta of 1.01.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Thursday, May 7th. The casino operator reported $1.25 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 5.14% and a negative return on equity of 42.03%. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.07 EPS. Research analysts anticipate that Wynn Resorts will post 4.9 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of WYNN. Capital World Investors grew its stake in Wynn Resorts by 0.6% during the 4th quarter. Capital World Investors now owns 9,542,392 shares of the casino operator’s stock valued at $1,148,236,000 after purchasing an additional 61,209 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Wynn Resorts by 9.5% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,680,631 shares of the casino operator’s stock valued at $442,890,000 after purchasing an additional 320,502 shares in the last quarter. Egerton Capital UK LLP purchased a new position in shares of Wynn Resorts during the 4th quarter valued at approximately $249,053,000. Invesco Ltd. boosted its stake in shares of Wynn Resorts by 14.2% during the 4th quarter. Invesco Ltd. now owns 2,011,462 shares of the casino operator’s stock valued at $242,039,000 after buying an additional 249,704 shares during the last quarter. Finally, Raymond James Financial Inc. grew its position in shares of Wynn Resorts by 2.3% during the fourth quarter. Raymond James Financial Inc. now owns 1,136,934 shares of the casino operator’s stock worth $136,807,000 after buying an additional 25,360 shares in the last quarter. Hedge funds and other institutional investors 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.