Wynn Resorts (NASDAQ:WYNN) Given New $125.00 Price Target at Mizuho

Key Points

• Mizuho lowered its price target for Wynn Resorts from $133 to $125 while maintaining an “outperform” rating, implying approximately 25.4% upside from the reported $99.70 share price.
• Analyst sentiment remains broadly positive: Wynn has an average “Moderate Buy” rating and a consensus price target of $135.44, with most analysts assigning Buy or Strong Buy ratings.
• Wynn exceeded quarterly expectations, reporting $1.25 in earnings per share versus $1.18 expected and $1.86 billion in revenue versus $1.82 billion estimated; institutional investors own 88.64% of the company’s shares.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) had its price objective reduced by stock analysts at Mizuho from $133.00 to $125.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the casino operator's stock. Mizuho's target price would suggest a potential upside of 25.38% from the stock's current price.

WYNN has been the topic of several other reports. The Goldman Sachs Group set a $120.00 price target on Wynn Resorts in a research report on Wednesday, July 15th. Truist Financial began coverage on Wynn Resorts in a research report on Wednesday, July 8th. They issued a "buy" rating and a $125.00 price target on the stock. Morgan Stanley reiterated an "overweight" rating and set a $128.00 price target on shares of Wynn Resorts in a report on Wednesday, July 22nd. Susquehanna reduced their price objective on Wynn Resorts from $133.00 to $127.00 and set a "positive" rating for the company in a research report on Thursday, April 16th. Finally, Bank of America lowered their price objective on shares of Wynn Resorts from $150.00 to $140.00 and set a "buy" rating on the stock in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $135.44.

Wynn Resorts Stock Up 2.9%

Shares of Wynn Resorts stock opened at $99.70 on Tuesday. Wynn Resorts has a 12-month low of $92.52 and a 12-month high of $134.72. The stock has a 50 day moving average price of $100.30 and a two-hundred day moving average price of $104.71. The stock has a market capitalization of $10.35 billion, a P/E ratio of 29.76, a PEG ratio of 0.95 and a beta of 0.99.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The casino operator reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $1.18 by $0.07. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.82 billion. Wynn Resorts had a net margin of 5.14% and a negative return on equity of 42.03%. The company's quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.07 earnings per share. Sell-side analysts anticipate that Wynn Resorts will post 4.49 earnings per share for the current year.

Institutional Investors Weigh In On Wynn Resorts

Institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Wynn Resorts by 10.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,961 shares of the casino operator's stock worth $665,000 after acquiring an additional 754 shares during the period. Woodline Partners LP raised its position in Wynn Resorts by 36.2% in the first quarter. Woodline Partners LP now owns 7,568 shares of the casino operator's stock worth $632,000 after purchasing an additional 2,012 shares in the last quarter. Geneos Wealth Management Inc. raised its position in Wynn Resorts by 69.0% in the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator's stock worth $32,000 after purchasing an additional 156 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Wynn Resorts by 13.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,659 shares of the casino operator's stock worth $155,000 after purchasing an additional 201 shares during the period. Finally, Guggenheim Capital LLC lifted its stake in Wynn Resorts by 9.5% during the second quarter. Guggenheim Capital LLC now owns 10,008 shares of the casino operator's stock worth $937,000 after purchasing an additional 868 shares during the period. Institutional investors and hedge funds own 88.64% of the company's stock.

Wynn Resorts Company Profile

Wynn Resorts, Limited NASDAQ: WYNN is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.

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