UBS Group Lowers Wynn Resorts (NASDAQ:WYNN) Price Target to $138.00

Key Points

• UBS Group lowered Wynn Resorts’ price target to $138 from $145 while maintaining a “buy” rating, implying 57.89% upside from the reported $87.40 share price.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and average target price of $133.35; 18 of 20 analysts rate the stock Buy or Strong Buy.
• Wynn Resorts exceeded quarterly expectations, reporting $1.24 in earnings per share versus the $0.99 consensus and $1.86 billion in revenue, up 6.9% year over year, though the stock was near its 12-month low.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) had its target price lowered by analysts at UBS Group from $145.00 to $138.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the casino operator's stock. UBS Group's price target would suggest a potential upside of 57.89% from the company's previous close.

A number of other brokerages have also recently issued reports on WYNN. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Wynn Resorts in a research note on Wednesday, June 24th. Barclays lifted their target price on shares of Wynn Resorts from $134.00 to $136.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 5th. Citigroup restated a "buy" rating on shares of Wynn Resorts in a research report on Thursday, August 6th. Zacks Research raised Wynn Resorts from a "strong sell" rating to a "hold" rating in a research note on Monday, August 10th. Finally, Truist Financial began coverage on Wynn Resorts in a report on Wednesday, July 8th. They issued a "buy" rating and a $125.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $133.35.

Wynn Resorts Price Performance

WYNN stock traded down $1.02 during mid-day trading on Friday, hitting $87.40. 198,001 shares of the stock were exchanged, compared to its average volume of 1,564,761. The business has a fifty day moving average price of $97.38 and a 200 day moving average price of $100.86. Wynn Resorts has a 12 month low of $87.39 and a 12 month high of $134.72. The stock has a market capitalization of $9.00 billion, a price-to-earnings ratio of 21.69, a PEG ratio of 1.09 and a beta of 1.00.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The casino operator reported $1.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.99 by $0.25. The company had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.83 billion. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%.Wynn Resorts's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the firm posted $1.09 EPS. As a group, equities analysts forecast that Wynn Resorts will post 4.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Wynn Resorts

A number of hedge funds have recently modified their holdings of the company. Hantz Financial Services Inc. raised its position in Wynn Resorts by 54.9% during the 4th quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator's stock valued at $30,000 after purchasing an additional 89 shares during the last quarter. MUFG Securities EMEA plc purchased a new stake in Wynn Resorts in the second quarter worth $25,000. SHP Wealth Management bought a new stake in Wynn Resorts in the fourth quarter valued at $32,000. International Assets Investment Management LLC bought a new stake in Wynn Resorts in the fourth quarter valued at $34,000. Finally, Geneos Wealth Management Inc. increased its position in Wynn Resorts by 69.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator's stock valued at $32,000 after purchasing an additional 156 shares during the period. Hedge funds and other institutional investors own 88.64% of the company's stock.

Wynn Resorts News Summary

Here are the key news stories impacting Wynn Resorts this week:

• Positive Sentiment: Wynn Resorts completed pricing of a $900 million private offering of 6.875% senior notes due 2035. Extending debt maturities may improve the company’s liquidity profile and reduce near-term refinancing pressure. Wynn Resorts Announces Pricing of Private Offering
• Neutral Sentiment: The new notes carry a relatively high 6.875% coupon, increasing interest costs, although the proceeds are intended to support debt-management efforts. Fitch described Wynn’s credit improvement as “slow,” signaling that refinancing reduces immediate maturity risk but does not resolve leverage concerns. Wynn Resorts to Issue Senior Notes
• Negative Sentiment: Wynn Resorts shares recently reached a 52-week low of $89.28 and underperformed industry peers, reflecting persistent investor concerns about valuation, casino demand and the company’s balance sheet. Wynn Resorts Stock Hits 52-Week Low
• Negative Sentiment: Two former Wynn Las Vegas employees reportedly allege they were fired because of union activity. Although the claims have not been established in court, they create potential legal, labor-relations and reputational risks. Former Wynn Las Vegas Employees Allege Firings

Wynn Resorts Company Profile

Wynn Resorts, Ltd. is a global luxury hospitality and entertainment company that develops and operates integrated resorts. Its properties combine casino gaming with hotel accommodations, fine dining, retail shopping, nightlife, entertainment, spas and meeting facilities.

The company operates Wynn Las Vegas and Encore Las Vegas in Nevada, Encore Boston Harbor in Massachusetts, and Wynn Macau and Encore Macau in Macau. These properties serve leisure and business travelers, gaming customers and convention guests across the United States and Asia.

Founded in 2002 by casino executive Steve Wynn, Wynn Resorts has expanded its portfolio through destination resorts focused on premium service and design.

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