Wynn Resorts Ltd. (NASDAQ:WYNN)‘s stock had its “buy” rating reissued by equities research analysts at Goldman Sachs Group Inc. in a research report issued to clients and investors on Wednesday.
Other equities analysts have also recently issued research reports about the company. Vetr cut Wynn Resorts from a “strong-buy” rating to a “buy” rating and set a $100.18 price objective for the company. in a report on Wednesday, July 6th. Zacks Investment Research upgraded Wynn Resorts from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a report on Thursday, June 30th. Buckingham Research initiated coverage on Wynn Resorts in a report on Friday, August 12th. They set a “buy” rating and a $113.00 price objective for the company. Deutsche Bank AG restated a “hold” rating on shares of Wynn Resorts in a report on Sunday, June 26th. Finally, JPMorgan Chase & Co. cut Wynn Resorts from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $101.00 to $94.00 in a report on Thursday, July 14th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $99.91.
Wynn Resorts (NASDAQ:WYNN) traded up 1.63% during midday trading on Wednesday, hitting $97.95. The stock had a trading volume of 1,864,262 shares. The stock has a market cap of $9.94 billion, a PE ratio of 30.31 and a beta of 1.85. Wynn Resorts has a 52-week low of $49.95 and a 52-week high of $109.50. The company’s 50 day moving average price is $98.44 and its 200-day moving average price is $96.19.
Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Thursday, July 28th. The casino operator reported $1.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.16. The firm earned $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Wynn Resorts had a return on equity of 3,746.24% and a net margin of 7.67%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.74 EPS. Analysts forecast that Wynn Resorts will post $3.81 EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the stock. IFP Advisors Inc increased its stake in Wynn Resorts by 44.1% in the first quarter. IFP Advisors Inc now owns 1,069 shares of the casino operator’s stock valued at $100,000 after buying an additional 327 shares during the last quarter. TLP Group LLC bought a new stake in shares of Wynn Resorts during the second quarter worth approximately $114,000. Mizuho Asset Management Co. Ltd. increased its stake in shares of Wynn Resorts by 176.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,266 shares of the casino operator’s stock worth $115,000 after buying an additional 808 shares during the last quarter. Krilogy Financial LLC increased its stake in shares of Wynn Resorts by 57.8% in the second quarter. Krilogy Financial LLC now owns 1,775 shares of the casino operator’s stock worth $161,000 after buying an additional 650 shares during the last quarter. Finally, Pacer Advisors Inc. increased its stake in shares of Wynn Resorts by 10.4% in the second quarter. Pacer Advisors Inc. now owns 1,814 shares of the casino operator’s stock worth $164,000 after buying an additional 171 shares during the last quarter. Institutional investors and hedge funds own 74.48% of the company’s stock.
About Wynn Resorts
Wynn Resorts, Limited is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company operates through two segments: Macau Operations and Las Vegas Operations.
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