Wynn Resorts (NASDAQ:WYNN) PT Lowered to $97.00

Wynn Resorts (NASDAQ:WYNN – Get Rating) had its price objective lowered by equities research analysts at Wells Fargo & Company from $99.00 to $97.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the casino operator’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 35.66% from the company’s previous close.

A number of other research analysts also recently issued reports on the stock. The Goldman Sachs Group decreased their target price on shares of Wynn Resorts from $102.00 to $91.00 and set a “neutral” rating for the company in a research report on Wednesday, December 15th. CBRE Group upped their target price on Wynn Resorts from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, February 16th. Deutsche Bank Aktiengesellschaft reduced their price target on Wynn Resorts from $131.00 to $123.00 and set a “buy” rating for the company in a research report on Wednesday, February 16th. JPMorgan Chase & Co. upped their price objective on Wynn Resorts from $93.00 to $102.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 16th. Finally, StockNews.com assumed coverage on shares of Wynn Resorts in a report on Thursday, March 31st. They set a “sell” rating for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Wynn Resorts has a consensus rating of “Hold” and a consensus target price of $111.50.

Shares of WYNN stock opened at $71.50 on Wednesday. Wynn Resorts has a fifty-two week low of $66.33 and a fifty-two week high of $136.83. The firm has a market capitalization of $8.29 billion, a PE ratio of -10.72 and a beta of 2.30. The stock’s 50-day simple moving average is $82.19 and its 200-day simple moving average is $85.89.

Wynn Resorts (NASDAQ:WYNN – Get Rating) last issued its quarterly earnings results on Tuesday, February 15th. The casino operator reported ($1.37) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.24) by ($0.13). The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the business posted ($2.45) EPS. On average, equities analysts expect that Wynn Resorts will post -0.89 earnings per share for the current year.

In other news, CEO Matt Maddox sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, January 18th. The shares were sold at an average price of $91.83, for a total value of $1,836,600.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Patricia Mulroy sold 400 shares of the company’s stock in a transaction dated Friday, February 11th. The shares were sold at an average price of $94.25, for a total transaction of $37,700.00. The disclosure for this sale can be found here. Insiders own 0.62% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WYNN. Crewe Advisors LLC raised its holdings in shares of Wynn Resorts by 100.0% during the 3rd quarter. Crewe Advisors LLC now owns 300 shares of the casino operator’s stock worth $25,000 after acquiring an additional 150 shares during the period. SRS Capital Advisors Inc. raised its stake in Wynn Resorts by 200.0% during the third quarter. SRS Capital Advisors Inc. now owns 300 shares of the casino operator’s stock worth $25,000 after purchasing an additional 200 shares during the period. Carmichael Hill & Associates Inc. boosted its holdings in Wynn Resorts by 65.5% in the 3rd quarter. Carmichael Hill & Associates Inc. now owns 379 shares of the casino operator’s stock valued at $32,000 after purchasing an additional 150 shares during the last quarter. Ancora Advisors LLC purchased a new stake in shares of Wynn Resorts in the 3rd quarter valued at approximately $34,000. Finally, MCF Advisors LLC increased its holdings in shares of Wynn Resorts by 65.2% during the 3rd quarter. MCF Advisors LLC now owns 408 shares of the casino operator’s stock worth $35,000 after buying an additional 161 shares during the last quarter. 61.26% of the stock is currently owned by institutional investors.

About Wynn Resorts (Get Rating)

Wynn Resorts, Limited designs, develops, and operates integrated resorts. Its Wynn Palace segment operates 424,000 square feet of casino space with 323 table games, 1,035 slot machines, private gaming salons, and sky casinos; a luxury hotel tower with 1,706 guest rooms, suites, and villas, including a health club, spa, salon, and pool; 14 food and beverage outlets; 107,000 square feet of retail space; 37,000 square feet of meeting and convention space; and performance lake and floral art displays.

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