Wells Fargo & Company Raises Wynn Resorts (NASDAQ:WYNN) Price Target to $128.00

Wynn Resorts (NASDAQ:WYNN) had its target price increased by equities researchers at Wells Fargo & Company from $125.00 to $128.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the casino operator’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 31.70% from the company’s current price.

WYNN has been the subject of several other reports. UBS Group decreased their price objective on shares of Wynn Resorts from $117.00 to $108.00 and set a “neutral” rating for the company in a report on Tuesday, February 6th. Stifel Nicolaus boosted their target price on shares of Wynn Resorts from $135.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday. Macquarie raised their price target on Wynn Resorts from $122.00 to $128.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Bank Of America (Bofa) lifted their price objective on Wynn Resorts from $95.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 17th. Finally, Barclays increased their target price on Wynn Resorts from $123.00 to $124.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Wynn Resorts currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.93.

Wynn Resorts Trading Up 1.5 %

Shares of WYNN opened at $97.19 on Wednesday. Wynn Resorts has a 12 month low of $81.65 and a 12 month high of $113.50. The business’s fifty day simple moving average is $100.08 and its two-hundred day simple moving average is $95.40. The company has a market cap of $10.89 billion, a price-to-earnings ratio of 16.25 and a beta of 1.91.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Tuesday, May 7th. The casino operator reported $1.59 EPS for the quarter, beating the consensus estimate of $1.43 by $0.16. Wynn Resorts had a negative return on equity of 31.17% and a net margin of 11.18%. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period last year, the firm posted $0.29 earnings per share. Wynn Resorts’s revenue was up 30.9% compared to the same quarter last year. As a group, research analysts forecast that Wynn Resorts will post 5.37 EPS for the current year.

Hedge Funds Weigh In On Wynn Resorts

A number of hedge funds have recently modified their holdings of WYNN. Stratos Wealth Partners LTD. purchased a new position in shares of Wynn Resorts during the 3rd quarter valued at $210,000. Bank of New York Mellon Corp lifted its position in shares of Wynn Resorts by 15.1% in the third quarter. Bank of New York Mellon Corp now owns 977,064 shares of the casino operator’s stock valued at $90,291,000 after acquiring an additional 128,094 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Wynn Resorts by 21.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,071 shares of the casino operator’s stock worth $4,257,000 after acquiring an additional 8,220 shares during the period. IFM Investors Pty Ltd grew its position in shares of Wynn Resorts by 3.3% during the third quarter. IFM Investors Pty Ltd now owns 19,036 shares of the casino operator’s stock worth $1,759,000 after purchasing an additional 600 shares in the last quarter. Finally, ING Groep NV raised its stake in Wynn Resorts by 1,657.3% during the 3rd quarter. ING Groep NV now owns 259,958 shares of the casino operator’s stock valued at $24,023,000 after purchasing an additional 245,165 shares during the period. 68.87% of the stock is currently owned by institutional investors.

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.