Morgan Stanley Increases Wynn Resorts (NASDAQ:WYNN) Price Target to $120.00

Wynn Resorts (NASDAQ:WYNN) had its price objective boosted by analysts at Morgan Stanley from $115.00 to $120.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. The brokerage presently has an “equal weight” rating on the casino operator’s stock. Morgan Stanley’s price target would indicate a potential downside of 5.12% from the company’s current price.

Several other equities research analysts also recently commented on the stock. Standpoint Research began coverage on shares of Wynn Resorts in a research report on Wednesday, September 4th. They set a “buy” rating on the stock. Citigroup set a $141.00 target price on shares of Wynn Resorts and gave the stock a “buy” rating in a research report on Thursday, September 12th. Barclays cut their target price on shares of Wynn Resorts from $157.00 to $150.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Nomura cut their target price on shares of Wynn Resorts from $126.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday, October 8th. Finally, Goldman Sachs Group upgraded shares of Wynn Resorts from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $140.00 to $155.00 in a research report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $137.59.

NASDAQ:WYNN traded up $0.98 during mid-day trading on Thursday, reaching $126.47. 1,396,900 shares of the company’s stock were exchanged, compared to its average volume of 2,073,250. The business’s fifty day simple moving average is $114.45 and its two-hundred day simple moving average is $120.37. Wynn Resorts has a one year low of $90.06 and a one year high of $151.50. The company has a debt-to-equity ratio of 5.00, a quick ratio of 0.95 and a current ratio of 1.00. The firm has a market capitalization of $13.62 billion, a PE ratio of 19.34, a price-to-earnings-growth ratio of 2.43 and a beta of 2.07.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Wednesday, November 6th. The casino operator reported $0.17 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.73). Wynn Resorts had a return on equity of 34.98% and a net margin of 12.41%. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the business earned $1.68 earnings per share. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, equities research analysts forecast that Wynn Resorts will post 5.21 EPS for the current year.

In other Wynn Resorts news, CEO Matt Maddox sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $122.47, for a total transaction of $3,061,750.00. Following the completion of the transaction, the chief executive officer now owns 407,107 shares in the company, valued at approximately $49,858,394.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have sold 75,000 shares of company stock valued at $8,750,250. Company insiders own 0.58% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in WYNN. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Wynn Resorts by 24.0% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 16,148 shares of the casino operator’s stock valued at $2,002,000 after acquiring an additional 3,129 shares in the last quarter. CSat Investment Advisory L.P. increased its stake in shares of Wynn Resorts by 128.8% in the 2nd quarter. CSat Investment Advisory L.P. now owns 476 shares of the casino operator’s stock valued at $60,000 after acquiring an additional 268 shares in the last quarter. Gamco Investors INC. ET AL increased its stake in shares of Wynn Resorts by 0.8% in the 2nd quarter. Gamco Investors INC. ET AL now owns 103,166 shares of the casino operator’s stock valued at $12,792,000 after acquiring an additional 770 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Wynn Resorts by 60.4% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,328 shares of the casino operator’s stock valued at $165,000 after acquiring an additional 500 shares in the last quarter. Finally, Beddow Capital Management Inc. increased its stake in shares of Wynn Resorts by 0.3% in the 2nd quarter. Beddow Capital Management Inc. now owns 45,885 shares of the casino operator’s stock valued at $5,689,000 after acquiring an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 75.66% of the company’s stock.

About Wynn Resorts

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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