Wynn Resorts’ (WYNN) “Outperform” Rating Reaffirmed at Macquarie

Wynn Resorts (NASDAQ:WYNN)‘s stock had its “outperform” rating restated by equities researchers at Macquarie in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $120.00 price target on the casino operator’s stock. Macquarie’s target price would indicate a potential upside of 36.66% from the company’s previous close.

A number of other research firms have also weighed in on WYNN. Susquehanna upped their price objective on Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a research note on Friday, October 11th. Jefferies Financial Group dropped their price target on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. JPMorgan Chase & Co. increased their price target on Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research note on Tuesday. UBS Group raised Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research note on Tuesday. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Wynn Resorts currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.71.

Wynn Resorts Price Performance

Shares of WYNN traded down $7.84 during trading hours on Tuesday, hitting $87.81. The stock had a trading volume of 4,802,756 shares, compared to its average volume of 2,126,526. Wynn Resorts has a 12 month low of $71.63 and a 12 month high of $110.38. The firm has a market capitalization of $9.75 billion, a PE ratio of 11.90, a PEG ratio of 2.48 and a beta of 1.80. The stock has a fifty day moving average price of $90.19 and a 200 day moving average price of $88.75.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.11). Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the firm earned $0.99 EPS. The business’s revenue was up 1.3% on a year-over-year basis. As a group, analysts anticipate that Wynn Resorts will post 5.42 EPS for the current fiscal year.

Insider Activity

In other news, Director Patricia Mulroy sold 2,650 shares of Wynn Resorts stock in a transaction on Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the transaction, the director now directly owns 5,689 shares in the company, valued at approximately $447,894.97. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.52% of the company’s stock.

Institutional Trading of Wynn Resorts

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sei Investments Co. lifted its position in Wynn Resorts by 5.6% during the 1st quarter. Sei Investments Co. now owns 139,038 shares of the casino operator’s stock worth $14,214,000 after acquiring an additional 7,380 shares during the period. Concord Investment Counsel Inc. purchased a new position in shares of Wynn Resorts during the 1st quarter valued at about $2,461,000. UniSuper Management Pty Ltd raised its stake in shares of Wynn Resorts by 540.6% during the 1st quarter. UniSuper Management Pty Ltd now owns 10,179 shares of the casino operator’s stock valued at $1,041,000 after buying an additional 8,590 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Wynn Resorts by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock valued at $1,127,456,000 after buying an additional 166,594 shares during the last quarter. Finally, OPTIMAS CAPITAL Ltd purchased a new position in shares of Wynn Resorts during the 1st quarter valued at about $3,394,000. Institutional investors and hedge funds own 68.87% of the company’s stock.

About Wynn Resorts

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.