JPMorgan Chase & Co. Boosts Wynn Resorts (NASDAQ:WYNN) Price Target to $113.00

Wynn Resorts (NASDAQ:WYNN) had its target price hoisted by equities researchers at JPMorgan Chase & Co. from $101.00 to $113.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the casino operator’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 32.44% from the stock’s current price.

Several other brokerages have also recently commented on WYNN. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research report on Tuesday. Jefferies Financial Group decreased their target price on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating for the company in a report on Thursday, July 11th. UBS Group upgraded Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. Stifel Nicolaus decreased their price objective on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research note on Friday, September 13th. Finally, Barclays cut their target price on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a research note on Tuesday. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wynn Resorts currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.71.

Wynn Resorts Trading Down 1.6 %

Shares of NASDAQ WYNN opened at $85.32 on Tuesday. The stock has a market capitalization of $9.47 billion, a PE ratio of 10.54, a PEG ratio of 2.48 and a beta of 1.80. Wynn Resorts has a twelve month low of $71.63 and a twelve month high of $110.38. The stock has a fifty day simple moving average of $90.38 and a 200-day simple moving average of $88.69.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing the consensus estimate 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%. The business’s revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.99 earnings per share. On average, equities analysts predict that Wynn Resorts will post 5.42 earnings per share for the current year.

Insider Activity

In related news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the transaction, the director now owns 5,689 shares of the company’s stock, valued at $447,894.97. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Wynn Resorts

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sei Investments Co. boosted its holdings in Wynn Resorts by 5.6% in the 1st quarter. Sei Investments Co. now owns 139,038 shares of the casino operator’s stock valued at $14,214,000 after purchasing an additional 7,380 shares in the last quarter. Concord Investment Counsel Inc. acquired a new position in Wynn Resorts during the first quarter worth $2,461,000. UniSuper Management Pty Ltd raised its position in Wynn Resorts by 540.6% in the first quarter. UniSuper Management Pty Ltd now owns 10,179 shares of the casino operator’s stock worth $1,041,000 after acquiring an additional 8,590 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Wynn Resorts by 1.5% in the first 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 shares of Wynn Resorts during the 1st quarter worth $3,394,000. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

About Wynn Resorts

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.