Barclays Lowers Wynn Resorts (NASDAQ:WYNN) Price Target to $134.00

Wynn Resorts (NASDAQ:WYNN) had its price target cut by investment analysts at Barclays from $139.00 to $134.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the casino operator’s stock. Barclays‘s target price would suggest a potential upside of 36.56% from the company’s previous close.

WYNN has been the subject of a number of other research reports. Jefferies Financial Group decreased their price objective on Wynn Resorts from $161.00 to $150.00 and set a “buy” rating for the company in a report on Monday, April 6th. Citigroup dropped their target price on shares of Wynn Resorts from $145.00 to $132.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Bank of America reduced their target price on shares of Wynn Resorts from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $137.00 price target on shares of Wynn Resorts in a research note on Friday, May 8th. Finally, Mizuho dropped their price objective on shares of Wynn Resorts from $134.00 to $133.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $138.75.

Wynn Resorts Stock Performance

WYNN stock opened at $98.13 on Thursday. Wynn Resorts has a fifty-two week low of $93.15 and a fifty-two week high of $134.72. The business’s 50 day moving average price is $101.46 and its two-hundred day moving average price is $107.08. The company has a market capitalization of $10.18 billion, a price-to-earnings ratio of 29.27, a price-to-earnings-growth ratio of 0.90 and a beta of 0.99.

Wynn Resorts (NASDAQ:WYNN) last released 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 company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.07 EPS. Sell-side analysts forecast that Wynn Resorts will post 4.61 earnings per share for the current year.

Hedge Funds Weigh In On Wynn Resorts

Several large investors have recently modified their holdings of WYNN. Czech National Bank grew its position in Wynn Resorts by 3.8% during the 2nd quarter. Czech National Bank now owns 23,871 shares of the casino operator’s stock valued at $2,318,000 after purchasing an additional 879 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Wynn Resorts by 204.3% in the second quarter. Assenagon Asset Management S.A. now owns 60,126 shares of the casino operator’s stock worth $5,838,000 after buying an additional 40,369 shares during the last quarter. GAMMA Investing LLC raised its holdings in Wynn Resorts by 5.7% in the second quarter. GAMMA Investing LLC now owns 4,778 shares of the casino operator’s stock worth $464,000 after buying an additional 259 shares during the last quarter. CX Institutional lifted its stake in shares of Wynn Resorts by 22.5% in the second quarter. CX Institutional now owns 4,285 shares of the casino operator’s stock worth $416,000 after buying an additional 786 shares in the last quarter. Finally, Parallel Advisors LLC lifted its stake in shares of Wynn Resorts by 18.5% in the first quarter. Parallel Advisors LLC now owns 756 shares of the casino operator’s stock worth $77,000 after buying an additional 118 shares in the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

About Wynn Resorts

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.