Wynn Resorts (NASDAQ:WYNN)‘s stock had its “buy” rating reiterated by analysts at Jefferies Group in a note issued to investors on Wednesday, The Fly reports. They presently have a $230.00 target price on the casino operator’s stock. Jefferies Group’s target price would suggest a potential upside of 23.99% from the stock’s previous close.
WYNN has been the topic of several other reports. Union Gaming Research upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and upped their price target for the company from $170.00 to $205.00 in a research note on Friday, March 23rd. Goldman Sachs upgraded shares of Wynn Resorts from a “sell” rating to a “neutral” rating in a research note on Sunday, February 4th. Zacks Investment Research upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a research note on Tuesday, March 6th. Citigroup set a $228.00 price target on shares of Wynn Resorts and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Finally, Bank of America decreased their price target on shares of Wynn Resorts from $200.00 to $190.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 31st. Nine investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Wynn Resorts presently has a consensus rating of “Buy” and an average price target of $192.38.
NASDAQ:WYNN opened at $185.50 on Wednesday. Wynn Resorts has a one year low of $119.17 and a one year high of $203.63. The firm has a market capitalization of $19,934.08, a price-to-earnings ratio of 33.97 and a beta of 1.40. The company has a debt-to-equity ratio of 8.87, a quick ratio of 1.74 and a current ratio of 1.77.
Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Tuesday, April 24th. The casino operator reported $2.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.98 by $0.32. Wynn Resorts had a net margin of 11.85% and a return on equity of 100.14%. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the previous year, the company earned $1.24 earnings per share. The company’s quarterly revenue was up 20.5% on a year-over-year basis. analysts predict that Wynn Resorts will post 7.84 earnings per share for the current fiscal year.
In other Wynn Resorts news, major shareholder Stephen A. Wynn sold 4,104,999 shares of the stock in a transaction dated Wednesday, March 21st. The shares were sold at an average price of $180.00, for a total transaction of $738,899,820.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 13.20% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Mackenzie Financial Corp grew its stake in Wynn Resorts by 1,522.7% during the fourth quarter. Mackenzie Financial Corp now owns 371,560 shares of the casino operator’s stock worth $62,641,000 after buying an additional 348,662 shares in the last quarter. Virtue Capital Management LLC acquired a new stake in Wynn Resorts during the fourth quarter worth about $549,000. Oakbrook Investments LLC grew its stake in Wynn Resorts by 78.3% during the fourth quarter. Oakbrook Investments LLC now owns 6,845 shares of the casino operator’s stock worth $1,154,000 after buying an additional 3,005 shares in the last quarter. American Assets Capital Advisers LLC grew its stake in Wynn Resorts by 62.5% during the fourth quarter. American Assets Capital Advisers LLC now owns 130,000 shares of the casino operator’s stock worth $21,916,000 after buying an additional 50,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Wynn Resorts by 9.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 93,205 shares of the casino operator’s stock worth $15,714,000 after buying an additional 7,965 shares in the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.
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About Wynn Resorts
Wynn Resorts, Limited develops, owns, and operates destination casino resorts. As of February 15, 2018, the company's Wynn Macau segment had approximately 273,000 square feet of casino space, which offered 316 table games and 988 slot machines, private gaming salons, sky casinos, and a poker pit; 2 luxury hotel towers with a total of 1,008 guest rooms and suites; 8 food and beverage outlets; 59,000 square feet of retail space; 31,000 square feet of meeting and convention space; recreation and leisure facilities comprising 2 health clubs, spas, a salon, and a pool; and a rotunda show, a Chinese zodiac-inspired ceiling.
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