Jefferies Financial Group Issues Pessimistic Forecast for Wynn Resorts (NASDAQ:WYNN) Stock Price

Wynn Resorts (NASDAQ:WYNN) had its price target lowered by stock analysts at Jefferies Financial Group from $109.00 to $105.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the casino operator’s stock. Jefferies Financial Group’s target price points to a potential upside of 26.02% from the stock’s previous close.

A number of other equities analysts also recently issued reports on WYNN. Barclays reduced their price target on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft reduced their target price on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. JPMorgan Chase & Co. raised their price target on Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Wells Fargo & Company dropped their price target on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Finally, Susquehanna increased their price objective on shares of Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a research report on Friday, October 11th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Wynn Resorts presently has an average rating of “Moderate Buy” and an average target price of $116.36.

Wynn Resorts Price Performance

Shares of WYNN stock opened at $83.32 on Friday. The stock’s 50-day moving average is $91.04 and its 200 day moving average is $87.40. Wynn Resorts has a 1-year low of $71.63 and a 1-year high of $110.38. The company has a market cap of $9.15 billion, a P/E ratio of 10.27, a PEG ratio of 3.46 and a beta of 1.77.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.11). The firm had revenue of $1.69 billion for 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 61.16%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.99 earnings per share. On average, analysts anticipate that Wynn Resorts will post 4.79 EPS for the current year.

Hedge Funds Weigh In On Wynn Resorts

Large investors have recently made changes to their positions in the company. IHT Wealth Management LLC increased its holdings in Wynn Resorts by 1.7% in the third quarter. IHT Wealth Management LLC now owns 6,766 shares of the casino operator’s stock valued at $654,000 after buying an additional 112 shares in the last quarter. Allworth Financial LP grew its position in shares of Wynn Resorts by 17.5% during the 3rd quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock valued at $86,000 after acquiring an additional 133 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in shares of Wynn Resorts by 2.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,540 shares of the casino operator’s stock valued at $496,000 after purchasing an additional 149 shares in the last quarter. Prospera Financial Services Inc raised its holdings in Wynn Resorts by 4.1% in the 3rd quarter. Prospera Financial Services Inc now owns 4,616 shares of the casino operator’s stock worth $443,000 after purchasing an additional 181 shares during the period. Finally, Public Sector Pension Investment Board boosted its position in Wynn Resorts by 6.9% during the third quarter. Public Sector Pension Investment Board now owns 3,078 shares of the casino operator’s stock worth $295,000 after purchasing an additional 200 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.

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.