Wynn Resorts (NASDAQ:WYNN) Upgraded to "Buy" by Argus

Wynn Resorts (NASDAQ:WYNN - Get Free Report) was upgraded by analysts at Argus from a "hold" rating to a "buy" rating in a report released on Thursday, Marketbeat reports. The firm currently has a $110.00 price objective on the casino operator's stock. Argus' target price indicates a potential upside of 16.91% from the company's previous close.

Several other equities analysts also recently commented on the company. Macquarie increased their price target on Wynn Resorts from $122.00 to $128.00 and gave the company an "outperform" rating in a report on Friday, February 9th. Susquehanna boosted their target price on shares of Wynn Resorts from $105.00 to $115.00 and gave the stock a "positive" rating in a research report on Thursday, February 8th. Citigroup raised their price target on Wynn Resorts from $132.00 to $138.00 and gave the company a "buy" rating in a research report on Wednesday, May 8th. Morgan Stanley increased their target price on Wynn Resorts from $107.00 to $114.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 9th. Finally, Mizuho assumed coverage on Wynn Resorts in a research report on Thursday, April 4th. They issued a "buy" rating and a $131.00 price target on the stock. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $120.79.

Wynn Resorts Stock Down 1.5 %

Shares of WYNN traded down $1.39 during mid-day trading on Thursday, hitting $94.09. 1,464,489 shares of the company's stock were exchanged, compared to its average volume of 1,772,537. The stock has a market cap of $10.54 billion, a price-to-earnings ratio of 12.89 and a beta of 1.91. The firm has a fifty day moving average of $99.22 and a two-hundred day moving average of $95.94. Wynn Resorts has a twelve month low of $81.65 and a twelve month high of $112.25.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its earnings results on Tuesday, May 7th. The casino operator reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.16. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.80 billion. Wynn Resorts had a negative return on equity of 46.04% and a net margin of 12.36%. The business's revenue was up 30.9% compared to the same quarter last year. During the same period last year, the company earned $0.29 earnings per share. On average, equities analysts predict that Wynn Resorts will post 5.58 earnings per share for the current year.

Hedge Funds Weigh In On Wynn Resorts

A number of hedge funds have recently modified their holdings of the stock. Virtu Financial LLC acquired a new position in Wynn Resorts during the first quarter worth $1,248,000. Comerica Bank lifted its holdings in Wynn Resorts by 56.0% during the 1st quarter. Comerica Bank now owns 25,881 shares of the casino operator's stock valued at $2,646,000 after purchasing an additional 9,295 shares during the last quarter. Tidal Investments LLC boosted its position in Wynn Resorts by 157.7% in the first quarter. Tidal Investments LLC now owns 9,186 shares of the casino operator's stock valued at $939,000 after buying an additional 5,621 shares in the last quarter. Interval Partners LP grew its stake in Wynn Resorts by 999.0% during the first quarter. Interval Partners LP now owns 400,911 shares of the casino operator's stock worth $40,985,000 after buying an additional 364,432 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of Wynn Resorts by 22.2% during the first quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator's stock worth $115,082,000 after buying an additional 204,852 shares in the last quarter. 68.87% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Company Profile

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.