Wynn Resorts (NASDAQ:WYNN) Given New $120.00 Price Target at Barclays

Key Points

• Barclays lowered its Wynn Resorts price target from $128 to $120, while maintaining an “overweight” rating; the revised target implied 44.43% upside from the prior close.
• Wynn missed quarterly expectations, reporting earnings of $0.33 per share versus $0.52 expected and revenue of $1.69 billion versus $1.75 billion expected. Revenue declined 7.9% year over year.
• Analyst sentiment remained broadly positive: MarketBeat reported a “Moderate Buy” consensus rating and an average price target of $123.12, with 18 of 20 analysts rating the stock Buy or Strong Buy.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) had its price objective cut by analysts at Barclays from $128.00 to $120.00 in a research report issued on Friday, Benzinga reports. The firm currently has an "overweight" rating on the casino operator's stock. Barclays's price target points to a potential upside of 44.43% from the stock's previous close.

A number of other equities analysts have also weighed in on the stock. Argus increased their target price on shares of Wynn Resorts from $115.00 to $130.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Mizuho reduced their target price on shares of Wynn Resorts from $133.00 to $125.00 and set an "outperform" rating for the company in a research note on Tuesday, July 28th. Truist Financial lowered their price target on shares of Wynn Resorts from $125.00 to $110.00 and set a "buy" rating on the stock in a research report on Tuesday, October 20th. JPMorgan Chase & Co. dropped their price target on shares of Wynn Resorts from $134.00 to $115.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 20th. Finally, Wells Fargo & Company dropped their price target on shares of Wynn Resorts from $125.00 to $122.00 and set an "overweight" rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $123.12.

Wynn Resorts Price Performance

Shares of NASDAQ WYNN traded up $3.77 during trading on Friday, reaching $83.08. 1,727,439 shares of the stock traded hands, compared to its average volume of 1,725,388. Wynn Resorts has a 52-week low of $70.79 and a 52-week high of $134.72. The company has a 50-day moving average of $80.89 and a 200-day moving average of $97.82. The stock has a market capitalization of $8.56 billion, a P/E ratio of 20.66, a price-to-earnings-growth ratio of 1.00 and a beta of 0.96.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The casino operator reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.19). Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%. The firm had revenue of $1.69 billion during the quarter, compared to analysts' expectations of $1.75 billion. During the same period last year, the business posted $0.86 EPS. The company's revenue was down 7.9% compared to the same quarter last year. Analysts expect that Wynn Resorts will post 4.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wynn Resorts

Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new position in Wynn Resorts in the second quarter valued at $609,566,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Wynn Resorts during the second quarter valued at about $321,402,000. Alyeska Investment Group L.P. bought a new stake in Wynn Resorts during the second quarter worth about $99,277,000. Bank of America Corp DE bought a new stake in Wynn Resorts during the second quarter worth about $74,504,000. Finally, Bamco Inc. NY purchased a new position in shares of Wynn Resorts in the 2nd quarter worth about $67,219,000. 88.64% of the stock is owned by hedge funds and other institutional investors.

Key Wynn Resorts News

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

• Positive Sentiment: Wells Fargo maintained an “overweight” rating despite trimming its price target to $122, implying substantial upside from the cited share price. Wynn also declared a quarterly dividend of $0.25 per share. Wells Fargo price target Dividend announcement
• Neutral Sentiment: Jefferies and Mizuho also reduced their price targets—to $132 and $129, respectively—but both targets remain well above the share price. Wynn says its Al Marjan Island resort remains on track for a September 2027 opening, although $465 million–$590 million in additional equity is still expected. Jefferies price target Mizuho price target Al Marjan funding and timeline
• Negative Sentiment: Third-quarter results missed expectations: EPS was $0.33 versus the cited $0.52 consensus, and revenue of $1.69 billion fell short of estimates of $1.75 billion and declined 7.9% year over year. Reports also described lower results across all four operating segments, with Macau VIP weakness weighing on performance. The earnings shortfall and broad-based declines are the clearest near-term downside catalysts. Third-quarter results Operating segment results

About Wynn Resorts

Wynn Resorts, Ltd. is a developer and operator of luxury integrated resorts, with a focus on destination casinos, hotels, restaurants, entertainment venues, retail, and convention facilities. Its properties are designed to combine gaming with premium hospitality and leisure experiences.

The company operates Wynn Las Vegas and Encore Las Vegas in Nevada, Encore Boston Harbor in Massachusetts, and Wynn Macau and Wynn Palace in Macau. These resorts serve visitors in the United States and international markets, offering accommodations, casino gaming, dining, nightlife, retail, spas, entertainment, and meeting and convention services.

Wynn Resorts was founded in 2002 by casino executive Steve Wynn.

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