Wynn Resorts (NASDAQ:WYNN) PT Lowered to $122.00

Wynn Resorts (NASDAQ:WYNN) had its price target reduced by stock analysts at Deutsche Bank Aktiengesellschaft from $131.00 to $122.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the casino operator’s stock. Deutsche Bank Aktiengesellschaft’s target price points to a potential upside of 62.39% from the stock’s previous close.

A number of other brokerages also recently weighed in on WYNN. Seaport Res Ptn raised shares of Wynn Resorts from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 30th. Jefferies Financial Group reduced their price objective on shares of Wynn Resorts from $111.00 to $96.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Morgan Stanley reduced their price target on shares of Wynn Resorts from $115.00 to $107.00 and set an “equal weight” rating for the company in a research report on Friday, July 12th. Wells Fargo & Company reduced their target price on Wynn Resorts from $126.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Barclays raised their price target on shares of Wynn Resorts from $124.00 to $128.00 and gave the stock an “overweight” rating in a report on Thursday, May 9th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $118.20.

Wynn Resorts Trading Down 1.5 %

WYNN traded down $1.16 during trading on Wednesday, reaching $75.13. 2,899,983 shares of the company were exchanged, compared to its average volume of 1,881,959. The stock has a market cap of $8.42 billion, a P/E ratio of 10.31 and a beta of 1.82. Wynn Resorts has a 52 week low of $71.63 and a 52 week high of $110.38. The firm has a 50 day moving average of $86.75 and a 200 day moving average of $95.15.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a negative return on equity of 46.04% and a net margin of 12.36%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company earned $0.91 earnings per share. As a group, analysts forecast that Wynn Resorts will post 5.62 earnings per share for the current fiscal year.

Insider Activity

In other Wynn Resorts news, Director Betsy S. Atkins sold 2,446 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $94.39, for a total transaction of $230,877.94. Following the completion of the transaction, the director now directly owns 9,226 shares in the company, valued at approximately $870,842.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its position in shares of Wynn Resorts by 0.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 27,904 shares of the casino operator’s stock valued at $2,542,000 after acquiring an additional 109 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Wynn Resorts by 8.5% during the 1st quarter. Fifth Third Bancorp now owns 1,416 shares of the casino operator’s stock valued at $145,000 after buying an additional 111 shares during the period. Empirical Finance LLC increased its position in Wynn Resorts by 3.7% in the 1st quarter. Empirical Finance LLC now owns 3,220 shares of the casino operator’s stock worth $329,000 after purchasing an additional 114 shares during the last quarter. EntryPoint Capital LLC raised its position in Wynn Resorts by 7.2% during the first quarter. EntryPoint Capital LLC now owns 1,738 shares of the casino operator’s stock valued at $178,000 after acquiring an additional 117 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Wynn Resorts by 47.5% during the 4th quarter. Federated Hermes Inc. now owns 435 shares of the casino operator’s stock valued at $40,000 after purchasing an additional 140 shares in the last quarter. 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.