Citigroup Issues Pessimistic Forecast for Wynn Resorts (NASDAQ:WYNN) Stock Price

Key Points

• Citigroup lowered its Wynn Resorts price target from $103 to $100 but maintained a Buy rating, implying about 14.9% upside from the stock’s then-current price.
• Analyst views were generally positive: MarketBeat reported a consensus “Moderate Buy” rating and an average target of $120.88, despite some Hold and Sell ratings.
• Wynn missed quarterly expectations, reporting EPS of $0.33 versus $0.52 expected and revenue of $1.69 billion versus $1.75 billion; revenue fell 7.9% year over year. Shares nevertheless rose 4.8% in Monday trading.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) had its target price dropped by stock analysts at Citigroup from $103.00 to $100.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a "buy" rating on the casino operator's stock. Citigroup's target price indicates a potential upside of 14.85% from the stock's current price.

A number of other research firms also recently weighed in on WYNN. JPMorgan Chase & Co. dropped their target price on Wynn Resorts from $115.00 to $112.00 and set an "overweight" rating for the company in a research report on Friday. Wolfe Research began coverage on Wynn Resorts in a report on Wednesday, September 2nd. They issued an "outperform" rating and a $128.00 price target on the stock. Zacks Research upgraded Wynn Resorts from a "strong sell" rating to a "hold" rating in a report on Monday, August 10th. Weiss Ratings reissued a "hold (c)" rating on shares of Wynn Resorts in a research note on Monday, September 21st. Finally, Wall Street Zen lowered Wynn Resorts from a "hold" rating to a "sell" rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Wynn Resorts currently has an average rating of "Moderate Buy" and a consensus target price of $120.88.

Wynn Resorts Trading Up 4.8%

Shares of Wynn Resorts stock traded up $3.96 during midday trading on Monday, reaching $87.07. The company had a trading volume of 1,480,765 shares, compared to its average volume of 1,740,295. The company has a market capitalization of $8.97 billion, a price-to-earnings ratio of 25.98, a price-to-earnings-growth ratio of 1.02 and a beta of 0.96. The stock has a fifty day simple moving average of $80.68 and a 200 day simple moving average of $97.68. Wynn Resorts has a 1-year low of $70.79 and a 1-year high of $134.72.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The casino operator reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.19). The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.75 billion. Wynn Resorts had a negative return on equity of 42.73% and a net margin of 5.20%. The firm's quarterly revenue was down 7.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.86 EPS. Sell-side analysts expect that Wynn Resorts will post 4.24 earnings per share for the current year.

Institutional Trading of Wynn Resorts

A number of large investors have recently bought and sold shares of the business. Aberdeen Group plc increased its holdings in Wynn Resorts by 843.9% during the 3rd quarter. Aberdeen Group plc now owns 34,358 shares of the casino operator's stock worth $2,729,000 after purchasing an additional 30,718 shares in the last quarter. Legacy Trust raised its stake in shares of Wynn Resorts by 1.1% in the 3rd quarter. Legacy Trust now owns 36,951 shares of the casino operator's stock valued at $2,759,000 after purchasing an additional 412 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Wynn Resorts by 53.3% in the third quarter. Russell Investments Group Ltd. now owns 50,874 shares of the casino operator's stock valued at $4,041,000 after purchasing an additional 17,686 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Wynn Resorts by 3.8% in the third quarter. Fifth Third Bancorp now owns 7,326 shares of the casino operator's stock valued at $582,000 after purchasing an additional 269 shares in the last quarter. Finally, Keybank National Association OH lifted its holdings in shares of Wynn Resorts by 5.7% in the third quarter. Keybank National Association OH now owns 17,176 shares of the casino operator's stock valued at $1,364,000 after purchasing an additional 932 shares in the last quarter. 88.64% of the stock is owned by institutional investors.

About Wynn Resorts

Wynn Resorts, Limited develops and operates luxury hotels and casino resorts. Its properties offer gaming, hotel accommodations, restaurants, retail, entertainment, and convention and meeting facilities.

The company's portfolio includes Wynn Las Vegas and Encore in Nevada, Encore Boston Harbor in Massachusetts, and Wynn Macau and Wynn Palace in Macau. Its operations therefore span the United States and Macau, a special administrative region of China.

Founded in 2002, Wynn Resorts opened Wynn Las Vegas in 2005.

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