Stifel Nicolaus Forecasts Strong Price Appreciation for Wynn Resorts (NASDAQ:WYNN) Stock

Wynn Resorts (NASDAQ:WYNN) had its price objective upped by equities research analysts at Stifel Nicolaus from $123.00 to $128.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the casino operator’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 44.11% from the company’s previous close.

A number of other equities analysts also recently issued reports on WYNN. Macquarie reiterated an “outperform” rating and issued a $120.00 price target on shares of Wynn Resorts in a report on Tuesday, November 5th. Barclays increased their price target on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Friday. Jefferies Financial Group cut their price target on shares of Wynn Resorts from $109.00 to $105.00 and set a “hold” rating for the company in a report on Friday, January 3rd. Mizuho raised their target price on shares of Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Three equities research 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $119.50.

Wynn Resorts Stock Performance

Shares of Wynn Resorts stock opened at $88.82 on Friday. The company has a market cap of $9.75 billion, a P/E ratio of 10.95, a PEG ratio of 2.32 and a beta of 1.76. Wynn Resorts has a one year low of $71.63 and a one year high of $110.38. The firm has a fifty day moving average of $85.66 and a two-hundred day moving average of $86.86.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $1.15. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. As a group, equities analysts predict that Wynn Resorts will post 4.69 earnings per share for the current year.

Institutional Investors Weigh In On Wynn Resorts

Several institutional investors have recently bought and sold shares of the business. IHT Wealth Management LLC grew its stake in Wynn Resorts by 1.7% during the third quarter. IHT Wealth Management LLC now owns 6,766 shares of the casino operator’s stock worth $654,000 after buying an additional 112 shares during the period. Fifth Third Bancorp lifted its position in shares of Wynn Resorts by 5.8% during the fourth quarter. Fifth Third Bancorp now owns 2,183 shares of the casino operator’s stock worth $188,000 after purchasing an additional 119 shares in the last quarter. Venturi Wealth Management LLC lifted its position in shares of Wynn Resorts by 15.0% during the fourth quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator’s stock worth $81,000 after purchasing an additional 122 shares in the last quarter. Allworth Financial LP lifted its position in shares of Wynn Resorts by 17.5% during the third quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock worth $86,000 after purchasing an additional 133 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of Wynn Resorts by 0.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 31,119 shares of the casino operator’s stock worth $2,681,000 after purchasing an additional 142 shares in the last quarter. 88.64% 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.