Macquarie Reaffirms Outperform Rating for Wynn Resorts (NASDAQ:WYNN)

Wynn Resorts (NASDAQ:WYNN)‘s stock had its “outperform” rating reiterated by Macquarie in a report issued on Tuesday, Benzinga reports. They currently have a $120.00 price objective on the casino operator’s stock. Macquarie’s price objective points to a potential upside of 40.65% from the company’s current price.

WYNN has been the subject of a number of other reports. Wells Fargo & Company lowered their price objective on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Tuesday. Barclays lowered their target price on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a report on Tuesday. Jefferies Financial Group lowered 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. Morgan Stanley lifted their target price on Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Finally, Stifel Nicolaus lowered their target price on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a report on Friday, September 13th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $115.71.

Wynn Resorts Price Performance

Shares of WYNN opened at $85.32 on Tuesday. Wynn Resorts has a 1 year low of $71.63 and a 1 year high of $110.38. 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. The business has a 50-day moving average of $90.38 and a 200-day moving average of $88.69.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). Wynn Resorts had a negative return on equity of 62.44% and a net margin of 13.37%. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the business earned $0.99 earnings per share. Wynn Resorts’s revenue was up 1.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Wynn Resorts will post 5.42 EPS for the current year.

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC purchased a new position in shares of Wynn Resorts during the second quarter valued at approximately $25,000. Blue Trust Inc. boosted its position in shares of Wynn Resorts by 556.0% during the third quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after buying an additional 467 shares during the last quarter. Versant Capital Management Inc purchased a new position in shares of Wynn Resorts during the second quarter valued at approximately $51,000. Covestor Ltd boosted its position in shares of Wynn Resorts by 421.7% during the first quarter. Covestor Ltd now owns 626 shares of the casino operator’s stock valued at $64,000 after buying an additional 506 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Wynn Resorts by 25.1% during the second quarter. GAMMA Investing LLC now owns 828 shares of the casino operator’s stock valued at $74,000 after buying an additional 166 shares during the last quarter. Hedge funds and other institutional investors own 68.87% of the company’s stock.

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.