Wells Fargo & Company Lowers Wynn Resorts (NASDAQ:WYNN) Price Target to $141.00

Wynn Resorts (NASDAQ:WYNN) had its price objective dropped by Wells Fargo & Company from $142.00 to $141.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the casino operator’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 45.17% from the company’s previous close.

Several other brokerages have also recently weighed in on WYNN. Truist Financial assumed coverage on Wynn Resorts in a research note on Wednesday, July 8th. They set a “buy” rating and a $125.00 price objective on the stock. Bank of America lowered their target price on shares of Wynn Resorts from $150.00 to $140.00 and set a “buy” rating for the company in a report on Monday, May 11th. Barclays dropped their price target on shares of Wynn Resorts from $139.00 to $134.00 and set an “overweight” rating on the stock in a research report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $137.00 price objective on shares of Wynn Resorts in a research note on Friday, May 8th. Finally, Morgan Stanley cut their target price on Wynn Resorts from $136.00 to $133.00 and set an “overweight” rating on the stock in a research note on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $138.69.

Wynn Resorts Stock Performance

WYNN stock opened at $97.13 on Tuesday. The company has a market capitalization of $10.08 billion, a P/E ratio of 28.99, a price-to-earnings-growth ratio of 0.93 and a beta of 0.99. Wynn Resorts has a 52-week low of $93.15 and a 52-week high of $134.72. The business has a 50-day simple moving average of $101.03 and a two-hundred day simple moving average of $106.50.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Thursday, May 7th. The casino operator reported $1.25 EPS for the quarter, topping the consensus estimate of $1.18 by $0.07. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.82 billion. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The company’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.07 earnings per share. As a group, sell-side analysts forecast that Wynn Resorts will post 4.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. MUFG Securities EMEA plc purchased a new stake in shares of Wynn Resorts in the second quarter worth $25,000. Hantz Financial Services Inc. grew its position in Wynn Resorts by 54.9% during the fourth quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock worth $30,000 after buying an additional 89 shares in the last quarter. Cromwell Holdings LLC grew its position in Wynn Resorts by 68.2% during the fourth quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock worth $31,000 after buying an additional 103 shares in the last quarter. SHP Wealth Management bought a new position in Wynn Resorts in the 4th quarter worth about $32,000. Finally, Geneos Wealth Management Inc. increased its stake in Wynn Resorts by 69.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after acquiring an additional 156 shares during the last quarter. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

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.