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

Wynn Resorts (NASDAQ:WYNN) had its price objective decreased by Wells Fargo & Company from $125.00 to $122.00 in a research report report published on Tuesday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the casino operator’s stock.

A number of other brokerages have also weighed in on WYNN. JPMorgan Chase & Co. lowered their price objective on shares of Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. UBS Group upgraded shares of Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Morgan Stanley boosted their price objective on shares of Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Finally, Macquarie restated an “outperform” rating and issued a $126.00 price objective on shares of Wynn Resorts in a report on Wednesday, August 7th. Four investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $115.71.

Wynn Resorts Price Performance

Shares of WYNN opened at $86.72 on Tuesday. The firm’s 50 day simple moving average is $90.19 and its 200 day simple moving average is $88.75. The company has a market capitalization of $9.63 billion, a P/E ratio of 10.69, a P/E/G ratio of 2.48 and a beta of 1.80. Wynn Resorts has a 1-year low of $71.63 and a 1-year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 62.44%. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.99 earnings per share. On average, equities analysts anticipate that Wynn Resorts will post 5.42 earnings per share for the current year.

Insiders Place Their Bets

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the company’s stock in a transaction on Monday, September 16th. The shares were 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 directly owns 5,689 shares in the company, valued at approximately $447,894.97. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.52% of the company’s stock.

Institutional Trading of Wynn Resorts

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Wynn Resorts by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock worth $1,127,456,000 after buying an additional 166,594 shares during the period. Renaissance Technologies LLC grew its position in shares of Wynn Resorts by 29.1% in the 2nd 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 grew its position in shares of Wynn Resorts by 22.2% in the 1st quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock worth $115,082,000 after buying an additional 204,852 shares during the period. Bamco Inc. NY grew its position in shares of Wynn Resorts by 5.1% in the 1st quarter. Bamco Inc. NY now owns 788,335 shares of the casino operator’s stock worth $80,591,000 after buying an additional 38,160 shares during the period. Finally, Regal Partners Ltd grew its position in shares of Wynn Resorts by 5.6% in the 2nd quarter. Regal Partners Ltd now owns 724,700 shares of the casino operator’s stock worth $64,861,000 after buying an additional 38,344 shares during the period. 68.87% of the stock is owned by hedge funds and other institutional investors.

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.