Wynn Resorts (NASDAQ:WYNN) Price Target Raised to $116.00

Wynn Resorts (NASDAQ:WYNN) had its price target increased by equities researchers at Barclays from $115.00 to $116.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the casino operator’s stock. Barclays‘s price objective suggests a potential upside of 31.26% from the company’s current price.

WYNN has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft dropped their price objective on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price target on shares of Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Wells Fargo & Company decreased their target price on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Jefferies Financial Group lowered their target price on shares of Wynn Resorts from $109.00 to $105.00 and set a “hold” rating on the stock in a research note on Friday, January 3rd. Finally, Mizuho raised their target price on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Wynn Resorts presently has an average rating of “Moderate Buy” and an average price target of $117.83.

Wynn Resorts Price Performance

Shares of WYNN stock traded up $7.90 on Friday, hitting $88.37. The stock had a trading volume of 4,161,464 shares, compared to its average volume of 2,670,163. Wynn Resorts has a 12-month low of $71.63 and a 12-month high of $110.38. The stock has a market cap of $9.71 billion, a price-to-earnings ratio of 10.88, a price-to-earnings-growth ratio of 2.32 and a beta of 1.76. The business has a 50 day moving average of $85.77 and a 200 day moving average of $86.78.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, topping the consensus estimate of $1.27 by $1.15. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. As a group, research analysts expect that Wynn Resorts will post 4.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wynn Resorts

A number of institutional investors have recently modified their holdings of WYNN. New Wave Wealth Advisors LLC acquired a new stake in Wynn Resorts in the fourth quarter worth $26,000. Wilmington Savings Fund Society FSB bought a new position in Wynn Resorts in the 3rd quarter worth about $31,000. SBI Securities Co. Ltd. acquired a new stake in shares of Wynn Resorts in the fourth quarter valued at approximately $36,000. Spire Wealth Management boosted its position in shares of Wynn Resorts by 116.4% during the fourth quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock worth $37,000 after buying an additional 234 shares during the period. Finally, Canada Post Corp Registered Pension Plan bought a new position in Wynn Resorts in the 4th quarter worth approximately $45,000. Institutional investors 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.