Wynn Resorts (NASDAQ:WYNN)‘s stock had its “neutral” rating reaffirmed by analysts at Bank of America in a note issued to investors on Wednesday, Briefing.com Automated Import reports. They currently have a $150.00 price target on the casino operator’s stock, up from their previous price target of $145.00. Bank of America‘s price target would indicate a potential upside of 4.63% from the company’s current price.
A number of other brokerages have also commented on WYNN. Deutsche Bank boosted their price objective on shares of Wynn Resorts from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. BidaskClub upgraded shares of Wynn Resorts from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Zacks Investment Research lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Saturday. Goldman Sachs Group assumed coverage on shares of Wynn Resorts in a report on Wednesday, April 10th. They issued a “neutral” rating and a $132.00 price objective on the stock. Finally, Jefferies Financial Group upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $119.00 to $170.00 in a report on Monday, April 8th. Ten equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $152.83.
WYNN stock traded down $1.36 during trading on Wednesday, reaching $143.36. The stock had a trading volume of 1,689,072 shares, compared to its average volume of 2,207,048. Wynn Resorts has a 1-year low of $90.06 and a 1-year high of $202.48. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.40 and a quick ratio of 1.37. The firm has a market capitalization of $15.58 billion, a P/E ratio of 21.92, a P/E/G ratio of 2.25 and a beta of 1.68.
Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Wednesday, January 30th. The casino operator reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.30). Wynn Resorts had a return on equity of 47.05% and a net margin of 8.70%. The firm had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the prior year, the firm earned $1.40 EPS. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Wynn Resorts will post 6.3 EPS for the current year.
In other news, CEO Matt Maddox sold 18,900 shares of the business’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $124.15, for a total value of $2,346,435.00. Following the completion of the sale, the chief executive officer now owns 487,399 shares of the company’s stock, valued at approximately $60,510,585.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Patricia Mulroy sold 425 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $118.02, for a total transaction of $50,158.50. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. Parallel Advisors LLC boosted its stake in Wynn Resorts by 84.2% during the 4th quarter. Parallel Advisors LLC now owns 256 shares of the casino operator’s stock valued at $25,000 after purchasing an additional 117 shares during the period. JOYN Advisors Inc. boosted its stake in Wynn Resorts by 1,680.0% during the 4th quarter. JOYN Advisors Inc. now owns 267 shares of the casino operator’s stock valued at $26,000 after purchasing an additional 252 shares during the period. Somerset Trust Co boosted its stake in Wynn Resorts by 152.7% during the 1st quarter. Somerset Trust Co now owns 369 shares of the casino operator’s stock valued at $44,000 after purchasing an additional 223 shares during the period. AdvisorNet Financial Inc boosted its stake in Wynn Resorts by 47.1% during the 4th quarter. AdvisorNet Financial Inc now owns 456 shares of the casino operator’s stock valued at $45,000 after purchasing an additional 146 shares during the period. Finally, First Hawaiian Bank boosted its stake in Wynn Resorts by 295.0% during the 1st quarter. First Hawaiian Bank now owns 395 shares of the casino operator’s stock valued at $47,000 after purchasing an additional 295 shares during the period. 75.10% of the stock is owned by institutional investors and hedge funds.
Wynn Resorts Company Profile
Wynn Resorts, Limited owns and operates destination casino resorts. As of February 20, 2019, the company's Wynn Palace segment had approximately 424,000 square feet of casino space, which offered 320 table games and 1,041 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas; 13 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities comprising a gondola ride, health club, spa, salon, and pool; and public attractions, such as performance lake and floral art displays.
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