Morgan Stanley Increases Wynn Resorts (NASDAQ:WYNN) Price Target to $83.00

Wynn Resorts (NASDAQ:WYNNGet Rating) had its price objective lifted by equities researchers at Morgan Stanley from $77.00 to $83.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the casino operator’s stock. Morgan Stanley’s price objective would suggest a potential downside of 16.10% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. StockNews.com upgraded Wynn Resorts to a “sell” rating in a research report on Monday, November 21st. Wells Fargo & Company upgraded Wynn Resorts from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $74.00 to $101.00 in a research report on Tuesday, January 3rd. JPMorgan Chase & Co. upgraded Wynn Resorts from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $71.00 to $91.00 in a research report on Monday, November 28th. Citigroup lifted their price target on Wynn Resorts from $87.50 to $91.00 and gave the company a “buy” rating in a research report on Monday, September 26th. Finally, Barclays lifted their price target on Wynn Resorts from $75.00 to $97.00 and gave the company an “equal weight” rating in a research report on Thursday, December 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $99.69.

Wynn Resorts Price Performance

NASDAQ:WYNN opened at $98.93 on Wednesday. The business has a fifty day simple moving average of $85.09 and a two-hundred day simple moving average of $70.41. Wynn Resorts has a 1 year low of $50.20 and a 1 year high of $100.39. The company has a market capitalization of $11.21 billion, a P/E ratio of -17.86 and a beta of 1.92.

Wynn Resorts (NASDAQ:WYNNGet Rating) last released its earnings results on Wednesday, November 9th. The casino operator reported ($1.20) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($1.20). The firm had revenue of $889.70 million during the quarter, compared to analysts’ expectations of $867.42 million. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.24) earnings per share. As a group, analysts anticipate that Wynn Resorts will post -4.5 earnings per share for the current year.

Insiders Place Their Bets

In other Wynn Resorts news, Director Betsy S. Atkins sold 5,707 shares of Wynn Resorts stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $83.65, for a total transaction of $477,390.55. Following the completion of the sale, the director now owns 6,690 shares of the company’s stock, valued at $559,618.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.62% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Captrust Financial Advisors grew its position in shares of Wynn Resorts by 3.6% during the third quarter. Captrust Financial Advisors now owns 4,240 shares of the casino operator’s stock valued at $267,000 after purchasing an additional 147 shares in the last quarter. Belpointe Asset Management LLC lifted its holdings in shares of Wynn Resorts by 3.3% in the 3rd quarter. Belpointe Asset Management LLC now owns 4,664 shares of the casino operator’s stock valued at $294,000 after acquiring an additional 150 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Wynn Resorts by 0.5% in the 2nd quarter. Janney Montgomery Scott LLC now owns 35,285 shares of the casino operator’s stock valued at $2,100,000 after acquiring an additional 162 shares during the last quarter. Royal London Asset Management Ltd. lifted its holdings in shares of Wynn Resorts by 0.4% in the 3rd quarter. Royal London Asset Management Ltd. now owns 39,493 shares of the casino operator’s stock valued at $2,489,000 after acquiring an additional 176 shares during the last quarter. Finally, O Dell Group LLC lifted its holdings in shares of Wynn Resorts by 58.3% in the 2nd quarter. O Dell Group LLC now owns 527 shares of the casino operator’s stock valued at $30,000 after acquiring an additional 194 shares during the last quarter. Hedge funds and other institutional investors own 70.95% of the company’s stock.

Wynn Resorts Company Profile

(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.

See Also

Analyst Recommendations for Wynn Resorts (NASDAQ:WYNN)

Receive News & Ratings for Wynn Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wynn Resorts and related companies with MarketBeat.com's FREE daily email newsletter.