Barclays Issues Pessimistic Forecast for Wynn Resorts (NASDAQ:WYNN) Stock Price

Wynn Resorts (NASDAQ:WYNN) had its price target reduced by equities researchers at Barclays from $125.00 to $119.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the casino operator’s stock. Barclays‘s target price would indicate a potential upside of 39.47% from the company’s previous close.

A number of other equities research analysts also recently commented on the stock. Morgan Stanley raised their price objective on shares of Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Macquarie restated an “outperform” rating and issued a $126.00 price objective on shares of Wynn Resorts in a research report on Wednesday, August 7th. Wells Fargo & Company increased their target price on shares of Wynn Resorts from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. dropped their target price on shares of Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Finally, StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Wynn Resorts currently has a consensus rating of “Moderate Buy” and an average price target of $115.71.

Wynn Resorts Stock Performance

Shares of WYNN opened at $85.32 on Tuesday. The company has a market capitalization of $9.47 billion, a price-to-earnings ratio of 10.54, a price-to-earnings-growth ratio of 2.48 and a beta of 1.80. Wynn Resorts has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The firm has a 50-day simple moving average of $90.38 and a 200-day simple moving average of $88.69.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The firm had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.73 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 62.44%. Wynn Resorts’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.99 EPS. Equities research analysts forecast that Wynn Resorts will post 5.42 EPS for the current year.

Insider Transactions at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the sale, the director now owns 5,689 shares in the company, valued at approximately $447,894.97. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.52% of the company’s stock.

Institutional Trading of Wynn Resorts

A number of hedge funds have recently bought and sold shares of WYNN. International Assets Investment Management LLC acquired a new position in shares of Wynn Resorts in the 2nd quarter valued at $25,000. Blue Trust Inc. boosted its holdings in shares of Wynn Resorts by 556.0% in the 3rd quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after purchasing an additional 467 shares during the last quarter. Versant Capital Management Inc acquired a new position in shares of Wynn Resorts in the 2nd quarter valued at $51,000. Covestor Ltd boosted its holdings in shares of Wynn Resorts by 421.7% in the 1st quarter. Covestor Ltd now owns 626 shares of the casino operator’s stock valued at $64,000 after purchasing an additional 506 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Wynn Resorts by 25.1% in the 2nd quarter. GAMMA Investing LLC now owns 828 shares of the casino operator’s stock valued at $74,000 after purchasing an additional 166 shares during the last quarter. 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.