Wynn Resorts (NASDAQ:WYNN) Given New $130.00 Price Target at Stifel Nicolaus

Key Points

• Stifel Nicolaus has raised its price target for Wynn Resorts from $113.00 to $130.00, indicating a potential upside of 23.52% from the current stock price.
• The average analyst rating for Wynn Resorts is a "Moderate Buy," with a consensus target price of $115.93, reflecting optimism among 12 analysts assigning a buy rating.
• Wynn Resorts reported a quarterly EPS of $1.09, which fell short of analysts' expectations, despite a slight revenue increase of 0.6% compared to the same period last year.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) had its price target hoisted by analysts at Stifel Nicolaus from $113.00 to $130.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the casino operator's stock. Stifel Nicolaus' target price points to a potential upside of 23.52% from the stock's current price.

A number of other analysts have also weighed in on WYNN. UBS Group reissued a "neutral" rating and issued a $101.00 price objective (up from $83.00) on shares of Wynn Resorts in a research report on Tuesday, July 8th. Argus downgraded Wynn Resorts from a "buy" rating to a "hold" rating in a report on Wednesday, April 23rd. Bank of America upgraded Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a report on Wednesday, May 7th. Barclays increased their target price on Wynn Resorts from $101.00 to $127.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Finally, Mizuho lowered their target price on shares of Wynn Resorts from $132.00 to $122.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Wynn Resorts has an average rating of "Moderate Buy" and a consensus target price of $115.93.

Wynn Resorts Price Performance

Shares of NASDAQ:WYNN traded down $1.98 during trading on Friday, hitting $105.25. The company had a trading volume of 942,416 shares, compared to its average volume of 2,464,727. The stock has a market cap of $11.00 billion, a price-to-earnings ratio of 29.24, a price-to-earnings-growth ratio of 2.96 and a beta of 1.41. The company has a fifty day simple moving average of $99.48 and a two-hundred day simple moving average of $89.55. Wynn Resorts has a one year low of $65.25 and a one year high of $112.36.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The casino operator reported $1.09 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.11). Wynn Resorts had a negative return on equity of 62.13% and a net margin of 6.17%. The firm had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.74 billion. During the same period in the previous year, the firm earned $1.12 earnings per share. The firm's quarterly revenue was up .6% compared to the same quarter last year. On average, equities research analysts anticipate that Wynn Resorts will post 5.17 earnings per share for the current year.

Insider Activity

In related news, Director Patricia Mulroy sold 2,262 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $92.12, for a total transaction of $208,375.44. Following the completion of the sale, the director owned 3,066 shares of the company's stock, valued at $282,439.92. This represents a 42.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.52% of the stock is currently owned by insiders.

Institutional Trading of Wynn Resorts

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Dagco Inc. purchased a new stake in Wynn Resorts in the first quarter valued at about $25,000. AlphaQuest LLC purchased a new stake in Wynn Resorts in the first quarter valued at $25,000. Global X Japan Co. Ltd. raised its position in Wynn Resorts by 120.7% during the first quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator's stock valued at $27,000 after acquiring an additional 175 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Wynn Resorts by 69.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator's stock valued at $32,000 after purchasing an additional 156 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Wynn Resorts by 3,408.3% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 421 shares of the casino operator's stock valued at $35,000 after acquiring an additional 409 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.

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