Wynn Resorts (WYNN) Cut to “Hold” at Vetr

Vetr cut shares of Wynn Resorts (NASDAQ:WYNN) from a buy rating to a hold rating in a research report released on Tuesday. Vetr currently has $195.00 target price on the casino operator’s stock.

Several other equities analysts also recently weighed in on the company. Goldman Sachs raised Wynn Resorts from a sell rating to a neutral rating in a research report on Sunday, February 4th. Citigroup set a $228.00 price target on Wynn Resorts and gave the stock a buy rating in a research report on Tuesday, January 23rd. Nomura raised Wynn Resorts from a neutral rating to a buy rating and raised their price target for the stock from $175.00 to $211.00 in a research report on Wednesday, February 7th. BidaskClub raised Wynn Resorts from a hold rating to a buy rating in a research report on Tuesday, January 23rd. Finally, Jefferies Group initiated coverage on Wynn Resorts in a research report on Thursday, January 18th. They set a buy rating and a $202.00 price target for the company. Nine analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and an average target price of $190.03.

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NASDAQ WYNN opened at $192.51 on Tuesday. Wynn Resorts has a 1-year low of $114.40 and a 1-year high of $203.63. The company has a market capitalization of $19,900.04, a P/E ratio of 35.26 and a beta of 1.40. The company has a quick ratio of 1.74, a current ratio of 1.77 and a debt-to-equity ratio of 8.87.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Monday, January 22nd. The casino operator reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.07. Wynn Resorts had a return on equity of 100.14% and a net margin of 11.85%. 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 EPS. Wynn Resorts’s quarterly revenue was up 29.9% on a year-over-year basis. equities research analysts expect that Wynn Resorts will post 7.79 EPS for the current fiscal year.

In other news, major shareholder Stephen A. Wynn sold 4,104,999 shares of the firm’s stock in a transaction on Wednesday, March 21st. The stock was sold at an average price of $180.00, for a total transaction of $738,899,820.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 13.20% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the company. Mackenzie Financial Corp boosted its holdings in shares of 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 purchasing an additional 348,662 shares during the last quarter. Virtue Capital Management LLC acquired a new stake in shares of Wynn Resorts during the fourth quarter worth $549,000. Oakbrook Investments LLC boosted its holdings in shares of 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 purchasing an additional 3,005 shares during the last quarter. American Assets Capital Advisers LLC boosted its holdings in shares of 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 purchasing an additional 50,000 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of 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 purchasing an additional 7,965 shares during the last quarter. Institutional investors and hedge funds 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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Wynn Resorts (NASDAQ:WYNN)

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