Wynn Resorts (NASDAQ:WYNN) Stock Price Breaks Above Fifty Day Moving Average - Should You Sell?

Key Points

• Wynn Resorts shares rose above their 50-day moving average, trading as high as $82.94 and last at $82.38, compared with a 50-day average of $81.24.
• Analysts hold a consensus “Moderate Buy” rating, with a consensus price target of $124.88; the stock has 1 Strong Buy, 17 Buy, and 2 Hold ratings.
• In its latest reported quarter, Wynn earned $1.24 per share, beating the $0.99 estimate, while revenue of $1.86 billion exceeded forecasts and increased 6.9% year over year.

Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report) crossed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $81.24 and traded as high as $82.94. Wynn Resorts shares last traded at $82.38, with a volume of 4,388,839 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WYNN. Mizuho decreased their price objective on Wynn Resorts from $133.00 to $125.00 and set an "outperform" rating on the stock in a report on Tuesday, July 28th. Zacks Research upgraded shares of Wynn Resorts from a "strong sell" rating to a "hold" rating in a research report on Monday, August 10th. JPMorgan Chase & Co. decreased 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. Barclays decreased their price target on shares of Wynn Resorts from $136.00 to $128.00 and set an "overweight" rating on the stock in a research note on Friday, October 9th. Finally, UBS Group set a $120.00 price objective on shares of Wynn Resorts in a research report on Tuesday, October 20th. One investment 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, Wynn Resorts has an average rating of "Moderate Buy" and a consensus target price of $124.88.

Wynn Resorts Stock Performance

The company has a fifty day moving average of $81.24 and a two-hundred day moving average of $98.00. The company has a market cap of $8.48 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 0.95 and a beta of 0.96.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The casino operator reported $1.24 EPS for the quarter, topping the consensus estimate of $0.99 by $0.25. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.83 billion. Wynn Resorts had a net margin of 6.05% and a negative return on equity of 46.52%. Wynn Resorts's quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.09 earnings per share. On average, equities analysts forecast that Wynn Resorts, Limited will post 4.26 EPS for the current year.

Hedge Funds Weigh In On Wynn Resorts

Several institutional investors have recently made changes to their positions in WYNN. Operose Advisors LLC boosted its stake in shares of Wynn Resorts by 400.0% during the second quarter. Operose Advisors LLC now owns 500 shares of the casino operator's stock worth $49,000 after buying an additional 400 shares during the period. Parallel Advisors LLC grew its holdings in shares of Wynn Resorts by 18.5% during the first quarter. Parallel Advisors LLC now owns 756 shares of the casino operator's stock worth $77,000 after buying an additional 118 shares during the last quarter. Optiver Holding B.V. acquired a new position in Wynn Resorts in the 1st quarter valued at about $90,000. GKV Capital Management Co. Inc. acquired a new position in Wynn Resorts in the 1st quarter valued at about $102,000. Finally, Allworth Financial LP purchased a new stake in Wynn Resorts during the 2nd quarter valued at approximately $108,000. Hedge funds and other institutional investors own 88.64% of the company's stock.

Wynn Resorts Company Profile

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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