Wynn Resorts (NASDAQ:WYNN) Upgraded to “Buy” at Jefferies Financial Group

Wynn Resorts (NASDAQ:WYNN) was upgraded by equities research analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research report issued on Tuesday, MarketBeat.com reports. The firm presently has a $118.00 target price on the casino operator’s stock, up from their prior target price of $105.00. Jefferies Financial Group’s target price indicates a potential upside of 32.85% from the stock’s current price.

WYNN has been the topic of a number of other reports. Mizuho increased their price target on Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday. Wells Fargo & Company cut their target price on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price target on shares of Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, Barclays raised their target price on Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Wynn Resorts presently has an average rating of “Moderate Buy” and an average price target of $120.58.

Wynn Resorts Stock Performance

Shares of NASDAQ WYNN opened at $88.82 on Tuesday. The company has a market capitalization of $9.75 billion, a P/E ratio of 10.95, a price-to-earnings-growth ratio of 2.32 and a beta of 1.76. Wynn Resorts has a 52-week low of $71.63 and a 52-week high of $110.38. The company’s 50 day moving average price is $85.52 and its 200-day moving average price is $86.96.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, topping the consensus estimate of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.78 billion. Analysts forecast 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 WYNN. Fisher Asset Management LLC boosted its holdings in Wynn Resorts by 70.7% during the 3rd quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock worth $380,821,000 after acquiring an additional 1,644,965 shares during the last quarter. Norges Bank bought a new position in shares of Wynn Resorts during the fourth quarter valued at about $117,352,000. Jericho Capital Asset Management L.P. bought a new position in shares of Wynn Resorts during the fourth quarter valued at about $101,375,000. Raymond James Financial Inc. purchased a new position in Wynn Resorts during the fourth quarter worth about $75,872,000. Finally, Holocene Advisors LP grew its position in Wynn Resorts by 27,868.5% in the 3rd quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock worth $72,672,000 after purchasing an additional 755,236 shares in the last quarter. Institutional investors own 88.64% 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.