Wells Fargo & Company Lowers Wynn Resorts (NASDAQ:WYNN) Price Target to $122.00

Wynn Resorts (NASDAQ:WYNN) had its target price lowered by stock analysts at Wells Fargo & Company from $125.00 to $122.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the casino operator’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 42.99% from the stock’s current price.

WYNN has been the subject of several other research reports. StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Jefferies Financial Group dropped their price objective on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Barclays cut their target price on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a research report on Tuesday. Morgan Stanley boosted their price target on Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Finally, Susquehanna increased their price objective on shares of Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a report on Friday, October 11th. Four investment 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $115.71.

Wynn Resorts Stock Down 1.6 %

NASDAQ WYNN opened at $85.32 on Tuesday. The stock’s 50-day moving average price is $90.38 and its 200-day moving average price is $88.69. The company has a market capitalization of $9.47 billion, a P/E ratio of 10.54, a price-to-earnings-growth ratio of 2.48 and a beta of 1.80. Wynn Resorts has a 52 week low of $71.63 and a 52 week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results 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 for the quarter, compared to the consensus estimate of $1.73 billion. Wynn Resorts had a negative return on equity of 62.44% and a net margin of 13.37%. Wynn Resorts’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.99 EPS. Research analysts anticipate that Wynn Resorts will post 5.42 EPS for the current year.

Insider Buying and Selling at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of Wynn Resorts stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.52% of the stock is owned by company insiders.

Institutional Trading of Wynn Resorts

Several hedge funds and other institutional investors have recently bought and sold shares of WYNN. Vanguard Group Inc. lifted its stake 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 worth $1,127,456,000 after purchasing an additional 166,594 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Wynn Resorts by 29.1% in the second quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock worth $120,386,000 after buying an additional 303,033 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Wynn Resorts by 22.2% during the 1st quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock worth $115,082,000 after acquiring an additional 204,852 shares during the last quarter. Regal Partners Ltd boosted its holdings in Wynn Resorts by 24.0% during the 3rd quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock valued at $86,168,000 after acquiring an additional 174,005 shares during the period. Finally, Bamco Inc. NY grew its position in Wynn Resorts by 5.1% in the 1st quarter. Bamco Inc. NY now owns 788,335 shares of the casino operator’s stock valued at $80,591,000 after acquiring an additional 38,160 shares during the last quarter. Hedge funds and other institutional investors 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.