Goldman Sachs Group Upgrades Wynn Resorts (NASDAQ:WYNN) to “Conviction-Buy”

Goldman Sachs Group upgraded shares of Wynn Resorts (NASDAQ:WYNN) from a buy rating to a conviction-buy rating in a report issued on Monday, The Fly reports.

Several other research analysts also recently weighed in on the company. Wolfe Research raised Wynn Resorts from a peer perform rating to an outperform rating and set a $176.00 target price for the company in a research note on Friday, January 10th. BidaskClub raised Wynn Resorts from a hold rating to a buy rating in a research note on Saturday, December 21st. Nomura reduced their target price on Wynn Resorts from $126.00 to $117.00 and set a buy rating for the company in a research note on Tuesday, October 8th. ValuEngine raised Wynn Resorts from a sell rating to a hold rating in a research note on Monday, November 25th. Finally, Deutsche Bank upped their target price on Wynn Resorts from $144.00 to $150.00 and gave the stock a buy rating in a research note on Monday, December 16th. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of Buy and an average target price of $140.94.

Shares of NASDAQ:WYNN opened at $150.95 on Monday. Wynn Resorts has a 12-month low of $102.03 and a 12-month high of $151.50. The company has a market capitalization of $16.11 billion, a PE ratio of 23.08, a PEG ratio of 2.81 and a beta of 2.08. The business has a 50 day moving average of $133.87 and a two-hundred day moving average of $122.27. The company has a current ratio of 1.09, a quick ratio of 1.05 and a debt-to-equity ratio of 5.75.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Wednesday, November 6th. The casino operator reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.73). The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.67 billion. Wynn Resorts had a return on equity of 25.33% and a net margin of 10.12%. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.68 earnings per share. Equities research analysts predict that Wynn Resorts will post 4.13 earnings per share for the current fiscal year.

In other Wynn Resorts news, CFO Craig Scott Billings sold 3,750 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $119.85, for a total value of $449,437.50. Following the completion of the sale, the chief financial officer now directly owns 66,451 shares in the company, valued at approximately $7,964,152.35. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Matt Maddox sold 25,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $122.47, for a total value of $3,061,750.00. Following the completion of the sale, the chief executive officer now owns 407,107 shares of the company’s stock, valued at $49,858,394.29. The disclosure for this sale can be found here. Insiders have sold 53,750 shares of company stock valued at $6,515,688 over the last quarter. 0.58% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the business. Point72 Hong Kong Ltd purchased a new stake in Wynn Resorts in the 2nd quarter valued at $31,000. Lenox Wealth Advisors LLC purchased a new stake in Wynn Resorts in the 3rd quarter valued at $35,000. Howe & Rusling Inc. purchased a new stake in Wynn Resorts in the 3rd quarter valued at $48,000. CSat Investment Advisory L.P. grew its holdings in 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 buying an additional 268 shares in the last quarter. Finally, Intercontinental Wealth Advisors LLC purchased a new stake in Wynn Resorts in the 3rd quarter valued at $77,000. Institutional investors own 72.88% 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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