Wynn Resorts (NASDAQ:WYNN) Given New $126.00 Price Target at Mizuho

Key Points

• Mizuho has increased Wynn Resorts' price target from $122.00 to $126.00, suggesting a potential upside of 17.54% based on the company's previous close.
• The stock is currently rated as a "Moderate Buy" with an average price target of $117.93, following positive ratings from several analysts including Bank of America and Macquarie.
• Wynn Resorts reported earnings of $1.09 per share, missing analysts' expectations, while revenue remained steady at $1.74 billion for the quarter.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) had its price objective upped by Mizuho from $122.00 to $126.00 in a report issued on Monday,Benzinga reports. The firm presently has an "outperform" rating on the casino operator's stock. Mizuho's price objective would suggest a potential upside of 13.36% from the company's previous close.

Several other research firms have also recently weighed in on WYNN. Citigroup reaffirmed a "neutral" rating and issued a $114.00 price target (up previously from $108.00) on shares of Wynn Resorts in a report on Wednesday, July 9th. JPMorgan Chase & Co. began coverage on Wynn Resorts in a report on Monday, June 23rd. They issued an "overweight" rating and a $109.00 target price on the stock. The Goldman Sachs Group began coverage on Wynn Resorts in a research report on Monday, July 7th. They set a "buy" rating and a $122.00 price objective for the company. Argus cut Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, April 23rd. Finally, Jefferies Financial Group increased their price target on Wynn Resorts from $130.00 to $133.00 and gave the company a "buy" rating in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $118.64.

Wynn Resorts Stock Down 1.2%

NASDAQ:WYNN traded down $1.34 during trading hours on Monday, hitting $111.15. 106,665 shares of the company traded hands, compared to its average volume of 2,460,873. The company has a market cap of $11.56 billion, a PE ratio of 33.38, a PEG ratio of 2.99 and a beta of 1.41. The firm's 50-day simple moving average is $100.72 and its 200-day simple moving average is $90.08. Wynn Resorts has a one year low of $65.25 and a one year high of $112.57.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings results 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). The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%. The firm's revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.12 EPS. As a group, equities research analysts expect that Wynn Resorts will post 5.17 EPS for the current year.

Insider Buying and Selling

In other Wynn Resorts news, Director Patricia Mulroy sold 2,262 shares of the company's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $92.12, for a total transaction of $208,375.44. Following the transaction, the director directly owned 3,066 shares in the company, valued at $282,439.92. This represents a 42.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.52% of the company's stock.

Hedge Funds Weigh In On Wynn Resorts

Several hedge funds have recently made changes to their positions in the company. Barrow Hanley Mewhinney & Strauss LLC lifted its position in Wynn Resorts by 18.4% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator's stock valued at $269,308,000 after purchasing an additional 485,204 shares during the period. Jefferies Financial Group Inc. lifted its position in shares of Wynn Resorts by 9.0% during the 4th quarter. Jefferies Financial Group Inc. now owns 1,683,600 shares of the casino operator's stock valued at $145,059,000 after acquiring an additional 139,270 shares during the period. Jericho Capital Asset Management L.P. acquired a new stake in shares of Wynn Resorts during the 4th quarter valued at approximately $101,375,000. Regal Partners Ltd lifted its position in shares of Wynn Resorts by 21.5% during the 1st quarter. Regal Partners Ltd now owns 1,091,578 shares of the casino operator's stock valued at $91,147,000 after acquiring an additional 192,873 shares during the period. Finally, Raymond James Financial Inc. lifted its position in shares of Wynn Resorts by 12.7% during the 1st quarter. Raymond James Financial Inc. now owns 992,022 shares of the casino operator's stock valued at $82,834,000 after acquiring an additional 111,428 shares during the period. Hedge funds and other institutional investors own 88.64% of the company's stock.

About Wynn Resorts

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.