Wynn Resorts (NASDAQ:WYNN) Stock Price Expected to Rise, Mizuho Analyst Says

Wynn Resorts (NASDAQ:WYNN) had its price target lifted by investment analysts at Mizuho from $126.00 to $131.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the casino operator’s stock. Mizuho’s price objective would suggest a potential upside of 8.51% from the stock’s previous close.

A number of other analysts have also recently issued reports on WYNN. Weiss Ratings reiterated a “hold (c)” rating on shares of Wynn Resorts in a report on Wednesday, November 5th. Argus upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research note on Wednesday, September 3rd. JPMorgan Chase & Co. raised their target price on shares of Wynn Resorts from $136.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Macquarie upped their price target on shares of Wynn Resorts from $110.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Finally, The Goldman Sachs Group increased their price target on Wynn Resorts from $124.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $133.00.

Wynn Resorts Stock Down 1.9%

Shares of NASDAQ:WYNN opened at $120.73 on Thursday. The company has a market capitalization of $12.55 billion, a P/E ratio of 36.26, a P/E/G ratio of 4.94 and a beta of 1.32. The stock’s fifty day simple moving average is $123.57 and its 200-day simple moving average is $108.80. Wynn Resorts has a 52-week low of $65.25 and a 52-week high of $134.23.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, November 6th. The casino operator reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.23). Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. The business had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the prior year, the firm earned $0.90 EPS. Wynn Resorts’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, sell-side analysts anticipate that Wynn Resorts will post 5.17 earnings per share for the current year.

Insider Activity

In other Wynn Resorts news, Director Patricia Mulroy sold 4,438 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total transaction of $554,750.00. Following the completion of the transaction, the director directly owned 3,066 shares of the company’s stock, valued at $383,250. The trade was a 59.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Wynn Resorts

Several large investors have recently bought and sold shares of the stock. Dagco Inc. bought a new stake in shares of Wynn Resorts in the 1st quarter worth $25,000. AlphaQuest LLC bought a new stake in Wynn Resorts in the first quarter worth about $25,000. MUFG Securities EMEA plc acquired a new stake in Wynn Resorts in the 2nd quarter valued at about $25,000. Root Financial Partners LLC acquired a new stake in Wynn Resorts in the 3rd quarter valued at about $26,000. Finally, Manchester Capital Management LLC boosted its position in shares of Wynn Resorts by 1,500.0% during the 2nd quarter. Manchester Capital Management LLC now owns 320 shares of the casino operator’s stock valued at $30,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds 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.