Wynn Resorts (NASDAQ:WYNN) Now Covered by Analysts at Truist Financial

Investment analysts at Truist Financial started coverage on shares of Wynn Resorts (NASDAQ:WYNN) in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage set a “buy” rating and a $125.00 price target on the casino operator’s stock. Truist Financial’s price target suggests a potential upside of 29.74% from the company’s previous close.

A number of other analysts also recently weighed in on the stock. Citigroup reduced 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. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $137.00 price target on shares of Wynn Resorts in a research report on Friday, May 8th. Morgan Stanley decreased their price objective on Wynn Resorts from $136.00 to $133.00 and set an “overweight” rating on the stock in a research report on Thursday, May 14th. Wells Fargo & Company set a $142.00 price objective on Wynn Resorts and gave the company an “overweight” rating in a research note on Sunday, May 10th. Finally, Barclays dropped their target price on Wynn Resorts from $143.00 to $139.00 and set an “overweight” rating for the company in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Wynn Resorts has an average rating of “Moderate Buy” and an average target price of $139.06.

Wynn Resorts Stock Performance

NASDAQ WYNN opened at $96.35 on Wednesday. The stock has a 50 day moving average price of $101.62 and a 200-day moving average price of $107.28. Wynn Resorts has a one year low of $93.15 and a one year high of $134.72. The company has a market capitalization of $10.00 billion, a P/E ratio of 28.76, a P/E/G ratio of 0.89 and a beta of 0.99.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Hantz Financial Services Inc. lifted its holdings in Wynn Resorts by 54.9% during the 4th quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock valued at $30,000 after buying an additional 89 shares in the last quarter. Horizon Investments LLC grew its stake in Wynn Resorts by 6.7% in the 4th quarter. Horizon Investments LLC now owns 1,500 shares of the casino operator’s stock worth $180,000 after acquiring an additional 94 shares in the last quarter. QRG Capital Management Inc. increased its position in shares of Wynn Resorts by 4.9% during the first quarter. QRG Capital Management Inc. now owns 2,071 shares of the casino operator’s stock worth $210,000 after acquiring an additional 96 shares during the period. Parallel Advisors LLC increased its position in shares of Wynn Resorts by 21.6% during the third quarter. Parallel Advisors LLC now owns 563 shares of the casino operator’s stock worth $72,000 after acquiring an additional 100 shares during the period. Finally, Cromwell Holdings LLC raised its stake in shares of Wynn Resorts by 68.2% during the fourth quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock valued at $31,000 after acquiring an additional 103 shares in the last quarter. 88.64% of the stock is currently owned by 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.