Wynn Resorts (WYNN) Stock Price Up 12%

Wynn Resorts, Limited (NASDAQ:WYNN)’s share price rose 12% during mid-day trading on Thursday . The stock traded as high as $114.24 and last traded at $112.63. Approximately 6,066,394 shares were traded during mid-day trading, an increase of 94% from the average daily volume of 3,126,690 shares. The stock had previously closed at $100.60.

WYNN has been the subject of several research analyst reports. ValuEngine lowered shares of Wynn Resorts from a “sell” rating to a “strong sell” rating in a report on Friday, September 7th. BidaskClub lowered shares of Wynn Resorts from a “sell” rating to a “strong sell” rating in a report on Saturday, September 29th. Credit Suisse Group initiated coverage on shares of Wynn Resorts in a report on Tuesday, August 14th. They issued a “neutral” rating and a $155.00 price target for the company. Bank of America reissued a “hold” rating and issued a $125.00 price target on shares of Wynn Resorts in a report on Tuesday, October 16th. Finally, Barclays decreased their price target on shares of Wynn Resorts from $224.00 to $213.00 and set an “overweight” rating for the company in a report on Thursday, August 2nd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. Wynn Resorts currently has a consensus rating of “Hold” and a consensus target price of $185.11.

The company has a market capitalization of $12.13 billion, a price-to-earnings ratio of 16.55, a price-to-earnings-growth ratio of 0.76 and a beta of 1.56. The company has a current ratio of 1.08, a quick ratio of 1.04 and a debt-to-equity ratio of 4.47.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Wednesday, August 1st. The casino operator reported $1.53 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.96 by ($0.43). Wynn Resorts had a return on equity of 69.17% and a net margin of 7.90%. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous year, the company posted $1.18 earnings per share. Wynn Resorts’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, equities research analysts predict that Wynn Resorts, Limited will post 7.35 EPS for the current year.

Several institutional investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC boosted its stake in shares of Wynn Resorts by 115.4% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 614 shares of the casino operator’s stock worth $103,000 after buying an additional 329 shares during the last quarter. Dupont Capital Management Corp boosted its stake in shares of Wynn Resorts by 87.9% during the 2nd quarter. Dupont Capital Management Corp now owns 823 shares of the casino operator’s stock worth $138,000 after buying an additional 385 shares during the last quarter. Redpoint Investment Management Pty Ltd boosted its stake in shares of Wynn Resorts by 21.6% during the 2nd quarter. Redpoint Investment Management Pty Ltd now owns 2,226 shares of the casino operator’s stock worth $372,000 after buying an additional 395 shares during the last quarter. Securian Asset Management Inc boosted its stake in shares of Wynn Resorts by 4.9% during the 2nd quarter. Securian Asset Management Inc now owns 8,751 shares of the casino operator’s stock worth $1,464,000 after buying an additional 407 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of Wynn Resorts by 8.4% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 5,463 shares of the casino operator’s stock worth $914,000 after buying an additional 422 shares during the last quarter. Institutional investors own 75.58% of the company’s stock.

Wynn Resorts Company Profile (NASDAQ:WYNN)

Wynn Resorts, Limited 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 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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