JPMorgan Chase & Co. Issues Positive Forecast for Wynn Resorts (NASDAQ:WYNN) Stock Price

Wynn Resorts (NASDAQ:WYNN) had its price objective increased by JPMorgan Chase & Co. from $101.00 to $113.00 in a report issued on Tuesday morning, Benzinga reports. They currently have an overweight rating on the casino operator’s stock.

WYNN has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft dropped their target price on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a research report on Tuesday. StockNews.com downgraded Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Macquarie reissued an “outperform” rating and issued a $126.00 price target on shares of Wynn Resorts in a report on Wednesday, August 7th. Jefferies Financial Group decreased their price target on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Finally, Morgan Stanley boosted their price target on Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.71.

Wynn Resorts Stock Performance

Shares of WYNN stock opened at $86.72 on Tuesday. The stock’s 50-day simple moving average is $90.19 and its 200-day simple moving average is $88.75. The firm has a market capitalization of $9.63 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 2.48 and a beta of 1.80. Wynn Resorts has a fifty-two week low of $71.63 and a fifty-two week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 62.44%. Wynn Resorts’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 EPS. As a group, equities analysts forecast that Wynn Resorts will post 5.42 earnings per share for the current year.

Insider Activity at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction on Monday, September 16th. The stock was 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 directly owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.52% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Wynn Resorts by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock valued at $1,127,456,000 after buying an additional 166,594 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Wynn Resorts by 29.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock valued at $120,386,000 after buying an additional 303,033 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Wynn Resorts by 22.2% in the 1st quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock valued at $115,082,000 after buying an additional 204,852 shares in the last quarter. Bamco Inc. NY grew its holdings in Wynn Resorts by 5.1% in the 1st quarter. Bamco Inc. NY now owns 788,335 shares of the casino operator’s stock valued at $80,591,000 after buying an additional 38,160 shares in the last quarter. Finally, Regal Partners Ltd grew its holdings in shares of Wynn Resorts by 5.6% during the 2nd quarter. Regal Partners Ltd now owns 724,700 shares of the casino operator’s stock worth $64,861,000 after purchasing an additional 38,344 shares during the period. 68.87% of the stock is owned by institutional investors and hedge funds.

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.