Wynn Resorts (NASDAQ:WYNN) Upgraded by StockNews.com to “Buy”

Wynn Resorts (NASDAQ:WYNN) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

A number of other brokerages also recently issued reports on WYNN. UBS Group raised Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. Seaport Res Ptn raised Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 30th. Stifel Nicolaus boosted their target price on Wynn Resorts from $135.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft decreased their target price on Wynn Resorts from $131.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, Argus raised Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a research report on Thursday, May 23rd. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Wynn Resorts currently has an average rating of “Moderate Buy” and a consensus target price of $116.07.

Wynn Resorts Stock Performance

Shares of NASDAQ:WYNN traded up $1.23 during midday trading on Wednesday, reaching $77.04. The company’s stock had a trading volume of 2,184,029 shares, compared to its average volume of 1,933,683. The firm has a market capitalization of $8.63 billion, a price-to-earnings ratio of 10.55, a PEG ratio of 1.72 and a beta of 1.82. The firm has a 50 day moving average price of $80.42 and a two-hundred day moving average price of $91.75. Wynn Resorts has a fifty-two week low of $71.63 and a fifty-two week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced 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 analyst estimates of $1.74 billion. Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 earnings per share. As a group, research analysts anticipate that Wynn Resorts will post 5.56 earnings per share for the current year.

Hedge Funds Weigh In On Wynn Resorts

A number of hedge funds and other institutional investors have recently modified their holdings of WYNN. International Assets Investment Management LLC boosted its stake in shares of Wynn Resorts by 4,067.4% in the 4th quarter. International Assets Investment Management LLC now owns 7,668 shares of the casino operator’s stock worth $699,000 after buying an additional 7,484 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Wynn Resorts by 47.5% in the 4th quarter. Federated Hermes Inc. now owns 435 shares of the casino operator’s stock worth $40,000 after buying an additional 140 shares during the last quarter. Truist Financial Corp boosted its stake in shares of Wynn Resorts by 6.6% in the 4th quarter. Truist Financial Corp now owns 16,094 shares of the casino operator’s stock worth $1,466,000 after buying an additional 1,002 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Wynn Resorts by 83.1% in the 4th quarter. Russell Investments Group Ltd. now owns 22,273 shares of the casino operator’s stock worth $2,034,000 after buying an additional 10,107 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Wynn Resorts by 359.6% in the fourth quarter. Victory Capital Management Inc. now owns 16,605 shares of the casino operator’s stock valued at $1,513,000 after purchasing an additional 12,992 shares during the last quarter. Hedge funds and other 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.