Wynn Resorts (NASDAQ:WYNN) Price Target Cut to $122.00 by Analysts at Wells Fargo & Company

Wynn Resorts (NASDAQ:WYNN) had its price target lowered by Wells Fargo & Company from $125.00 to $122.00 in a research note published on Tuesday, Benzinga reports. The brokerage currently has an overweight rating on the casino operator’s stock.

Several other equities analysts have also recently issued reports on WYNN. Morgan Stanley upped their target price on shares of Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. UBS Group upgraded shares of Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. Barclays lowered their target price on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a research note on Tuesday. Stifel Nicolaus lowered their target price on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Finally, Macquarie restated an “outperform” rating and set a $126.00 target price on shares of Wynn Resorts in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $115.71.

Wynn Resorts Stock Performance

Shares of WYNN stock opened at $86.72 on Tuesday. Wynn Resorts has a one year low of $71.63 and a one year high of $110.38. The company’s 50-day moving average is $90.19 and its 200 day moving average is $88.75. The company has a market capitalization of $9.63 billion, a price-to-earnings ratio of 10.69, a price-to-earnings-growth ratio of 2.48 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.11). Wynn Resorts had a net margin of 13.37% and a negative return on equity of 62.44%. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period last year, the company posted $0.99 earnings per share. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, research analysts predict that Wynn Resorts will post 5.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 5,689 shares in the company, valued at approximately $447,894.97. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On Wynn Resorts

A number of institutional investors have recently added to or reduced their stakes in WYNN. Norden Group LLC purchased a new stake in Wynn Resorts during the 1st quarter valued at approximately $231,000. First Trust Direct Indexing L.P. purchased a new position in shares of Wynn Resorts in the first quarter valued at $260,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Wynn Resorts by 25.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,810 shares of the casino operator’s stock valued at $1,567,000 after purchasing an additional 2,982 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Wynn Resorts by 10.8% in the first quarter. Daiwa Securities Group Inc. now owns 9,883 shares of the casino operator’s stock valued at $1,010,000 after purchasing an additional 965 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Wynn Resorts by 42.9% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,796 shares of the casino operator’s stock valued at $593,000 after purchasing an additional 1,740 shares in the last quarter. 68.87% of the stock is owned by hedge funds and other institutional investors.

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.