Morgan Stanley Boosts Wynn Resorts (NASDAQ:WYNN) Price Target to $113.00

Key Points

• Morgan Stanley has raised its price target for Wynn Resorts from $111.00 to $113.00, indicating a potential upside of 4.02% based on the stock's previous close.
• Other financial analysts have also recently increased their price targets, with Mizuho setting it at $126.00 and Jefferies at $133.00, reflecting a strong consensus on the stock's performance.
• Despite a slight earnings miss in its latest quarterly report, Wynn Resorts showed a revenue increase of 0.6% year-over-year, supporting a current average rating of "Moderate Buy" for the stock.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) had its price objective upped by Morgan Stanley from $111.00 to $113.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the casino operator's stock. Morgan Stanley's price objective points to a potential upside of 4.02% from the stock's previous close.

Other research analysts also recently issued research reports about the company. Mizuho increased their price objective on Wynn Resorts from $122.00 to $126.00 and gave the company an "outperform" rating in a report on Monday. Jefferies Financial Group lifted their price objective on Wynn Resorts from $130.00 to $133.00 and gave the stock a "buy" rating in a report on Monday. JPMorgan Chase & Co. started coverage on Wynn Resorts in a research report on Monday, June 23rd. They set an "overweight" rating and a $109.00 price objective for the company. Citigroup reaffirmed a "neutral" rating and issued a $114.00 price objective (up previously from $108.00) on shares of Wynn Resorts in a research report on Wednesday, July 9th. Finally, Stifel Nicolaus boosted their price target on Wynn Resorts from $113.00 to $130.00 and gave the company a "buy" rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, Wynn Resorts presently has an average rating of "Moderate Buy" and an average target price of $118.64.

Wynn Resorts Stock Up 2.1%

Shares of Wynn Resorts stock opened at $108.63 on Tuesday. The company has a market capitalization of $11.30 billion, a PE ratio of 32.62, a price-to-earnings-growth ratio of 2.94 and a beta of 1.41. Wynn Resorts has a 52 week low of $65.25 and a 52 week high of $112.36. The stock's fifty day moving average is $100.23 and its two-hundred day moving average is $89.92.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its earnings results on Thursday, August 7th. The casino operator reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.20 by ($0.11). The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%. The company's revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the firm earned $1.12 EPS. As a group, research analysts anticipate that Wynn Resorts will post 5.17 earnings per share for the current year.

Insider Activity

In related news, Director Patricia Mulroy sold 2,262 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $92.12, for a total transaction of $208,375.44. Following the completion of the sale, the director directly owned 3,066 shares in the company, valued at approximately $282,439.92. This trade represents a 42.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.52% of the company's stock.

Hedge Funds Weigh In On Wynn Resorts

Several institutional investors have recently bought and sold shares of WYNN. Dagco Inc. bought a new position in Wynn Resorts during the first quarter valued at about $25,000. AlphaQuest LLC acquired a new stake in shares of Wynn Resorts in the first quarter valued at about $25,000. Global X Japan Co. Ltd. grew its position in shares of Wynn Resorts by 120.7% in the first quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator's stock valued at $27,000 after purchasing an additional 175 shares during the last quarter. MTM Investment Management LLC acquired a new stake in shares of Wynn Resorts in the second quarter valued at about $31,000. Finally, Geneos Wealth Management Inc. grew its position in shares of Wynn Resorts by 69.0% in the first 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 last quarter. 88.64% of the stock is currently owned by institutional investors.

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.

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