Wynn Resorts (NASDAQ:WYNN) had its target price lowered by analysts at Deutsche Bank from $221.00 to $215.00 in a note issued to investors on Wednesday, March 14th. The brokerage presently has a “buy” rating on the casino operator’s stock. Deutsche Bank’s price target would suggest a potential upside of 20.45% from the company’s previous close.
A number of other research firms have also recently weighed in on WYNN. Zacks Investment Research cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. Morgan Stanley cut their price target on shares of Wynn Resorts from $210.00 to $193.00 and set a “buy” rating on the stock in a research report on Tuesday, January 30th. Vetr cut shares of Wynn Resorts from a “strong-buy” rating to a “buy” rating and set a $211.61 price target on the stock. in a research report on Monday, March 12th. Barclays upped their price objective on shares of Wynn Resorts to $180.00 and gave the company an “overweight” rating in a report on Thursday, December 14th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $201.00 price objective (up previously from $153.00) on shares of Wynn Resorts in a report on Tuesday, January 23rd. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $190.86.
Shares of NASDAQ WYNN traded down $2.75 during mid-day trading on Wednesday, hitting $178.49. The company had a trading volume of 2,803,493 shares, compared to its average volume of 4,302,257. The company has a debt-to-equity ratio of 8.87, a current ratio of 1.77 and a quick ratio of 1.74. The stock has a market capitalization of $18,524.95, a price-to-earnings ratio of 32.69 and a beta of 1.40. Wynn Resorts has a one year low of $112.91 and a one year high of $203.63.
Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Monday, January 22nd. The casino operator reported $1.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.07. Wynn Resorts had a net margin of 11.85% and a return on equity of 100.14%. The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same period last year, the business posted $0.50 earnings per share. The business’s revenue for the quarter was up 29.9% compared to the same quarter last year. sell-side analysts expect that Wynn Resorts will post 7.77 EPS for the current year.
In related news, major shareholder Stephen A. Wynn sold 4,104,999 shares of the business’s 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 13.20% of the company’s stock.
A number of institutional investors have recently modified their holdings of WYNN. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Wynn Resorts by 6.3% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 18,408 shares of the casino operator’s stock valued at $2,741,000 after purchasing an additional 1,087 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new position in shares of Wynn Resorts during the third quarter valued at approximately $418,000. Keybank National Association OH grew its position in Wynn Resorts by 8.7% during the third quarter. Keybank National Association OH now owns 4,573 shares of the casino operator’s stock valued at $681,000 after buying an additional 365 shares during the period. Swiss National Bank grew its position in Wynn Resorts by 1.4% during the third quarter. Swiss National Bank now owns 301,362 shares of the casino operator’s stock valued at $44,879,000 after buying an additional 4,300 shares during the period. Finally, Candriam Luxembourg S.C.A. grew its position in Wynn Resorts by 9.6% during the third quarter. Candriam Luxembourg S.C.A. now owns 4,710 shares of the casino operator’s stock valued at $701,000 after buying an additional 412 shares during the period. 70.30% of the stock is owned by institutional investors and hedge funds.
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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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