Weiss Ratings Reiterates Hold (C+) Rating for Wynn Resorts (NASDAQ:WYNN)

Key Points

• Weiss Ratings has reiterated a "Hold (C+)" rating for Wynn Resorts, amid a range of updates from other analysts recommending "Buy" ratings with target prices as high as $150.00.
• Wynn Resorts' stock increased by 3.4% on Tuesday, trading at $116.30, while maintaining a market capitalization of $12.09 billion.
• Despite a slight revenue increase, Wynn Resorts reported lower-than-expected earnings per share of $1.09, missing estimates by $0.11 in their latest quarterly report.

Wynn Resorts (NASDAQ:WYNN - Get Free Report)'s stock had its "hold (c+)" rating reissued by equities researchers at Weiss Ratings in a report released on Tuesday,Weiss Ratings reports.

Several other equities research analysts also recently weighed in on the company. Stifel Nicolaus raised their price objective on Wynn Resorts from $130.00 to $145.00 and gave the company a "buy" rating in a report on Thursday, September 18th. Jefferies Financial Group raised their price objective on Wynn Resorts from $130.00 to $133.00 and gave the company a "buy" rating in a report on Monday, August 11th. The Goldman Sachs Group raised their price objective on Wynn Resorts from $124.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, October 1st. Argus raised Wynn Resorts from a "hold" rating to a "buy" rating and set a $145.00 price objective on the stock in a report on Wednesday, September 3rd. Finally, Macquarie raised their price objective on Wynn Resorts from $110.00 to $124.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Thirteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Wynn Resorts currently has an average rating of "Moderate Buy" and an average target price of $127.71.

Wynn Resorts Stock Up 3.4%

Shares of WYNN traded up $3.78 during midday trading on Tuesday, hitting $116.30. The company's stock had a trading volume of 550,974 shares, compared to its average volume of 2,347,458. Wynn Resorts has a one year low of $65.25 and a one year high of $134.23. The company's fifty day simple moving average is $120.44 and its two-hundred day simple moving average is $101.20. The stock has a market capitalization of $12.09 billion, a price-to-earnings ratio of 34.95, a price-to-earnings-growth ratio of 6.00 and a beta of 1.31.

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

Insider Buying and Selling at Wynn Resorts

In related news, Director Patricia Mulroy sold 4,438 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total value of $554,750.00. Following the transaction, the director owned 3,066 shares in the company, valued at approximately $383,250. This represents a 59.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.52% of the stock is owned by insiders.

Hedge Funds Weigh In On Wynn Resorts

Several institutional investors have recently bought and sold shares of the company. Somerset Trust Co purchased a new position in Wynn Resorts in the third quarter valued at approximately $327,000. Wedge Capital Management L L P NC lifted its stake in Wynn Resorts by 386.4% in the third quarter. Wedge Capital Management L L P NC now owns 303,986 shares of the casino operator's stock valued at $38,992,000 after purchasing an additional 241,495 shares during the last quarter. Cyndeo Wealth Partners LLC purchased a new position in Wynn Resorts in the third quarter valued at approximately $203,000. Contravisory Investment Management Inc. purchased a new stake in shares of Wynn Resorts during the third quarter worth $86,000. Finally, Wedmont Private Capital lifted its position in shares of Wynn Resorts by 19.6% during the third quarter. Wedmont Private Capital now owns 3,127 shares of the casino operator's stock worth $384,000 after acquiring an additional 513 shares in the last quarter. Hedge funds and other institutional investors own 88.64% of the company's stock.

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.

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