Wynn Resorts (NASDAQ:WYNN) Price Target Cut to $103.00 by Analysts at Morgan Stanley

Wynn Resorts (NASDAQ:WYNN) had its price target lowered by research analysts at Morgan Stanley from $105.00 to $103.00 in a report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the casino operator’s stock. Morgan Stanley’s target price suggests a potential upside of 14.62% from the company’s current price.

A number of other research analysts have also recently weighed in on the stock. Barclays boosted their price objective on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Macquarie reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of Wynn Resorts in a research report on Friday, February 14th. Wells Fargo & Company reduced their price target 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. StockNews.com upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Wynn Resorts has a consensus rating of “Buy” and an average price target of $119.58.

Wynn Resorts Stock Down 0.7 %

NASDAQ:WYNN opened at $89.86 on Monday. 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 $85.31 and its 200-day moving average price is $87.42. The stock has a market cap of $9.56 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 2.35 and a beta of 1.76.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $1.15. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. As a group, sell-side analysts anticipate that Wynn Resorts will post 5.17 earnings per share for the current year.

Insider Activity

In other Wynn Resorts news, Director Philip G. Satre purchased 22,200 shares of the stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the acquisition, the director now owns 34,195 shares in the company, valued at $3,152,095.10. This trade represents a 185.08 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Wynn Resorts

Institutional investors have recently modified their holdings of the business. IHT Wealth Management LLC grew its stake in Wynn Resorts by 1.7% during the 3rd quarter. IHT Wealth Management LLC now owns 6,766 shares of the casino operator’s stock worth $654,000 after purchasing an additional 112 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Wynn Resorts by 5.8% in the 4th quarter. Fifth Third Bancorp now owns 2,183 shares of the casino operator’s stock valued at $188,000 after buying an additional 119 shares during the period. Venturi Wealth Management LLC grew its position in shares of Wynn Resorts by 15.0% during the fourth quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator’s stock worth $81,000 after buying an additional 122 shares in the last quarter. BOKF NA increased its stake in shares of Wynn Resorts by 3.9% during the fourth quarter. BOKF NA now owns 3,557 shares of the casino operator’s stock worth $289,000 after buying an additional 132 shares during the period. Finally, Allworth Financial LP raised its holdings in Wynn Resorts by 17.5% in the third quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock valued at $86,000 after acquiring an additional 133 shares in the last quarter. Institutional investors and hedge funds own 88.64% 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.