Wynn Resorts (NASDAQ:WYNN) Price Target Raised to $125.00

Wynn Resorts (NASDAQ:WYNN) had its price objective upped by analysts at Wells Fargo & Company from $115.00 to $125.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the casino operator’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 27.90% from the company’s current price.

WYNN has been the topic of a number of other reports. Barclays increased their price objective on shares of Wynn Resorts from $108.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday. Susquehanna lifted their price target on Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a research note on Friday, October 11th. Stifel Nicolaus lowered their price objective on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a report on Friday, September 13th. StockNews.com downgraded Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Finally, Macquarie reiterated an “outperform” rating and issued a $126.00 price target on shares of Wynn Resorts in a report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $115.67.

Wynn Resorts Price Performance

WYNN stock traded down $2.51 on Thursday, hitting $97.73. 1,558,849 shares of the company were exchanged, compared to its average volume of 2,134,030. The stock has a market capitalization of $10.95 billion, a price-to-earnings ratio of 13.39, a price-to-earnings-growth ratio of 2.68 and a beta of 1.81. The business’s fifty day moving average is $84.49 and its two-hundred day moving average is $89.35. Wynn Resorts has a twelve month low of $71.63 and a twelve month high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Tuesday, August 6th. The casino operator reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the prior year, the business posted $0.91 EPS. The business’s revenue was up 8.4% on a year-over-year basis. Equities research analysts expect that Wynn Resorts will post 5.44 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the completion of the transaction, the director now owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Wynn Resorts

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Wynn Resorts by 3.2% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,622 shares of the casino operator’s stock valued at $923,000 after buying an additional 302 shares in the last quarter. Vontobel Holding Ltd. grew its position in Wynn Resorts by 40.3% in the third quarter. Vontobel Holding Ltd. now owns 8,718 shares of the casino operator’s stock worth $836,000 after acquiring an additional 2,505 shares in the last quarter. NBC Securities Inc. increased its stake in shares of Wynn Resorts by 104.0% during the 3rd quarter. NBC Securities Inc. now owns 16,375 shares of the casino operator’s stock worth $1,570,000 after purchasing an additional 8,350 shares during the last quarter. CX Institutional acquired a new stake in shares of Wynn Resorts in the 3rd quarter valued at $264,000. Finally, Wedge Capital Management L L P NC boosted its holdings in Wynn Resorts by 47.8% in the third quarter. Wedge Capital Management L L P NC now owns 46,286 shares of the casino operator’s stock worth $4,438,000 after purchasing an additional 14,964 shares in the last quarter. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Wynn Resorts Company Profile

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.