Wynn Resorts (NASDAQ:WYNN) Price Target Raised to $115.00

Wynn Resorts (NASDAQ:WYNN) had its price target raised by equities research analysts at Morgan Stanley from $112.00 to $115.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the casino operator’s stock. Morgan Stanley’s target price suggests a potential upside of 15.80% from the stock’s previous close.

WYNN has been the subject of several other research reports. Jefferies Financial Group lowered their target price 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. Barclays upped their target price on shares of Wynn Resorts from $108.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Macquarie reiterated an “outperform” rating and issued a $126.00 price target on shares of Wynn Resorts in a report on Wednesday, August 7th. JPMorgan Chase & Co. reduced their price target 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. Finally, UBS Group upgraded shares of Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. Four 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $115.87.

Wynn Resorts Stock Performance

Shares of NASDAQ WYNN traded up $0.94 during trading on Tuesday, reaching $99.31. The company had a trading volume of 707,594 shares, compared to its average volume of 2,132,186. The stock has a market cap of $11.13 billion, a PE ratio of 13.56, a PEG ratio of 2.57 and a beta of 1.81. The business’s 50 day moving average price is $85.90 and its 200-day moving average price is $89.07. Wynn Resorts has a 52 week low of $71.63 and a 52 week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm earned $0.91 earnings per share. 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 business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the sale, the director now owns 5,689 shares in the company, valued at approximately $447,894.97. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.52% of the company’s stock.

Institutional Trading of Wynn Resorts

Several institutional investors have recently made changes to their positions in the company. Sei Investments Co. grew its position in Wynn Resorts by 5.6% during the first quarter. Sei Investments Co. now owns 139,038 shares of the casino operator’s stock valued at $14,214,000 after buying an additional 7,380 shares during the period. Concord Investment Counsel Inc. bought a new position in Wynn Resorts during the first quarter valued at about $2,461,000. UniSuper Management Pty Ltd grew its position in Wynn Resorts by 540.6% during the first quarter. UniSuper Management Pty Ltd now owns 10,179 shares of the casino operator’s stock valued at $1,041,000 after buying an additional 8,590 shares during the period. Vanguard Group Inc. grew its position in Wynn Resorts by 1.5% during the first quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock valued at $1,127,456,000 after buying an additional 166,594 shares during the period. Finally, OPTIMAS CAPITAL Ltd bought a new position in Wynn Resorts during the first quarter valued at about $3,394,000. 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.