Morgan Stanley Increases Wynn Resorts (NASDAQ:WYNN) Price Target to $115.00

Wynn Resorts (NASDAQ:WYNN) had its target price lifted by stock analysts at Morgan Stanley from $112.00 to $115.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the casino operator’s stock. Morgan Stanley’s price objective indicates a potential upside of 17.73% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Wynn Resorts from $131.00 to $122.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Barclays boosted their price objective on shares of Wynn Resorts from $108.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Stifel Nicolaus lowered their target price on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research note on Friday, September 13th. Susquehanna upped their price target on Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a research report on Friday, October 11th. Finally, Macquarie reiterated an “outperform” rating and set a $126.00 price objective on shares of Wynn Resorts in a report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Wynn Resorts has an average rating of “Moderate Buy” and an average target price of $116.21.

Wynn Resorts Stock Performance

Shares of WYNN stock opened at $97.68 on Tuesday. Wynn Resorts has a 52-week low of $71.63 and a 52-week high of $110.38. The stock has a 50 day moving average price of $86.41 and a 200 day moving average price of $89.02. The firm has a market capitalization of $10.95 billion, a P/E ratio of 13.52, a P/E/G ratio of 2.57 and a beta of 1.81.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.02). The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. Wynn Resorts’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 EPS. As a group, sell-side analysts forecast that Wynn Resorts will post 5.42 EPS for the current year.

Insiders Place Their Bets

In other news, Director Patricia Mulroy sold 2,650 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the sale, the director now directly owns 5,689 shares of the company’s stock, valued at $447,894.97. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.52% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Wynn Resorts

Institutional investors and hedge funds have recently modified their holdings of the stock. Sei Investments Co. grew its position in shares of Wynn Resorts by 5.6% during the 1st quarter. Sei Investments Co. now owns 139,038 shares of the casino operator’s stock valued at $14,214,000 after acquiring an additional 7,380 shares during the period. Concord Investment Counsel Inc. acquired a new position in shares of Wynn Resorts during the 1st quarter worth approximately $2,461,000. UniSuper Management Pty Ltd lifted its position in shares of Wynn Resorts by 540.6% during the 1st quarter. UniSuper Management Pty Ltd now owns 10,179 shares of the casino operator’s stock valued at $1,041,000 after buying an additional 8,590 shares in the last quarter. Vanguard Group Inc. grew its stake in Wynn Resorts by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock valued at $1,127,456,000 after acquiring an additional 166,594 shares during the period. Finally, OPTIMAS CAPITAL Ltd purchased a new stake in Wynn Resorts in the 1st quarter worth $3,394,000. Institutional investors and hedge funds own 68.87% of the company’s stock.

Wynn Resorts Company Profile

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.