Barclays Increases Wynn Resorts (NASDAQ:WYNN) Price Target to $141.00

Wynn Resorts (NASDAQ:WYNN) had its target price hoisted by investment analysts at Barclays from $127.00 to $141.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the casino operator’s stock. Barclays‘s price objective would indicate a potential upside of 11.78% from the company’s current price.

Other research analysts also recently issued reports about the stock. UBS Group raised shares of Wynn Resorts from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $101.00 to $147.00 in a research report on Thursday, August 28th. Zacks Research upgraded shares of Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 27th. JPMorgan Chase & Co. increased their price target on shares of Wynn Resorts from $123.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Stifel Nicolaus lifted their price objective on Wynn Resorts from $130.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, September 18th. Finally, Argus upgraded Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a report on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Wynn Resorts has a consensus rating of “Moderate Buy” and an average target price of $132.58.

Wynn Resorts Price Performance

NASDAQ WYNN opened at $126.14 on Friday. Wynn Resorts has a 1 year low of $65.25 and a 1 year high of $134.23. The stock has a market capitalization of $13.12 billion, a PE ratio of 37.88, a PEG ratio of 4.94 and a beta of 1.32. The business’s 50-day moving average is $123.52 and its 200 day moving average is $107.47.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Thursday, November 6th. The casino operator reported $0.86 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.23). The business had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%.The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.90 EPS. As a group, equities research analysts anticipate that Wynn Resorts will post 5.17 earnings per share for the current year.

Insider Activity at Wynn Resorts

In other news, Director Patricia Mulroy sold 4,438 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total value of $554,750.00. Following the sale, the director directly owned 3,066 shares of the company’s stock, valued at approximately $383,250. This represents a 59.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Wynn Resorts

Hedge funds have recently bought and sold shares of the company. Root Financial Partners LLC purchased a new position in Wynn Resorts in the third quarter worth about $26,000. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Wynn Resorts during the third quarter valued at approximately $31,000. Atlantic Edge Private Wealth Management LLC raised its holdings in Wynn Resorts by 400.0% in the 3rd quarter. Atlantic Edge Private Wealth Management LLC now owns 250 shares of the casino operator’s stock worth $32,000 after acquiring an additional 200 shares during the last quarter. MUFG Securities EMEA plc bought a new position in Wynn Resorts in the 2nd quarter valued at approximately $25,000. Finally, AlphaQuest LLC purchased a new stake in Wynn Resorts during the 1st quarter valued at $25,000. Institutional investors own 88.64% 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.