Wynn Resorts (NASDAQ:WYNN - Get Free Report ) had its price target boosted by research analysts at Citigroup from $132.00 to $138.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a "buy" rating on the casino operator's stock. Citigroup's price target would suggest a potential upside of 44.13% from the stock's previous close.
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A number of other research analysts also recently issued reports on the company. Morgan Stanley lifted their price target on Wynn Resorts from $107.00 to $114.00 and gave the company an "equal weight" rating in a report on Tuesday, April 9th. UBS Group reduced their target price on shares of Wynn Resorts from $117.00 to $108.00 and set a "neutral" rating for the company in a report on Tuesday, February 6th. Macquarie raised their price target on shares of Wynn Resorts from $122.00 to $128.00 and gave the company an "outperform" rating in a report on Friday, February 9th. StockNews.com upgraded shares of Wynn Resorts from a "hold" rating to a "buy" rating in a research note on Thursday, April 4th. Finally, Wells Fargo & Company raised their target price on shares of Wynn Resorts from $125.00 to $128.00 and gave the company an "overweight" rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $122.64.
Read Our Latest Report on Wynn Resorts
Wynn Resorts Price Performance Shares of NASDAQ:WYNN traded down $1.48 during trading on Wednesday, reaching $95.75. 4,248,989 shares of the company were exchanged, compared to its average volume of 1,822,194. The business's fifty day simple moving average is $100.24 and its 200-day simple moving average is $95.39. The firm has a market capitalization of $10.73 billion, a PE ratio of 16.01 and a beta of 1.91. Wynn Resorts has a 12-month low of $81.65 and a 12-month high of $113.50.
Wynn Resorts (NASDAQ:WYNN - Get Free Report ) last posted its quarterly earnings results on Tuesday, May 7th. The casino operator reported $1.59 EPS for the quarter, beating the consensus estimate of $1.43 by $0.16. Wynn Resorts had a net margin of 11.18% and a negative return on equity of 31.17%. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the business posted $0.29 EPS. The company's quarterly revenue was up 30.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Wynn Resorts will post 5.37 EPS for the current fiscal year.
Insider Transactions at Wynn Resorts In related news, CEO Craig Scott Billings sold 19,235 shares of the company's stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $108.00, for a total value of $2,077,380.00. Following the sale, the chief executive officer now owns 307,904 shares in the company, valued at $33,253,632. The sale was disclosed in a legal filing with the SEC, which is available through this link . In related news, CEO Craig Scott Billings sold 19,235 shares of the business's stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $108.00, for a total transaction of $2,077,380.00. Following the completion of the transaction, the chief executive officer now directly owns 307,904 shares in the company, valued at $33,253,632. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website . Also, CFO Julie Cameron-Doe sold 6,383 shares of the company's stock in a transaction on Friday, February 9th. The shares were sold at an average price of $105.27, for a total transaction of $671,938.41. Following the completion of the sale, the chief financial officer now directly owns 78,150 shares in the company, valued at $8,226,850.50. The disclosure for this sale can be found here . Insiders sold a total of 26,578 shares of company stock worth $2,850,282 over the last three months. 0.52% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Wynn Resorts A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Stratos Wealth Partners LTD. acquired a new stake in Wynn Resorts during the third quarter valued at $210,000. Bank of New York Mellon Corp increased its stake in shares of Wynn Resorts by 15.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 977,064 shares of the casino operator's stock valued at $90,291,000 after purchasing an additional 128,094 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Wynn Resorts by 21.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,071 shares of the casino operator's stock worth $4,257,000 after purchasing an additional 8,220 shares during the period. IFM Investors Pty Ltd boosted its position in Wynn Resorts by 3.3% during the third quarter. IFM Investors Pty Ltd now owns 19,036 shares of the casino operator's stock worth $1,759,000 after purchasing an additional 600 shares in the last quarter. Finally, ING Groep NV grew its holdings in Wynn Resorts by 1,657.3% in the third quarter. ING Groep NV now owns 259,958 shares of the casino operator's stock valued at $24,023,000 after purchasing an additional 245,165 shares during the period. Institutional investors and hedge funds own 68.87% of the company's stock.
Wynn Resorts Company Profile (
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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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