Wynn Resorts (NASDAQ:WYNN) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Key Points

• Wynn Resorts' target price has been raised by Stifel Nicolaus from $130.00 to $145.00, indicating a potential upside of 17.62% from the current stock price.
• The company recently reported earnings of $1.09 per share, which was below analysts' expectations, missing the consensus estimate of $1.20, despite a 0.6% year-over-year revenue increase.
• Insider activity showed Director Patricia Mulroy sold a significant number of shares, reducing her stake in the company by 59.14%.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) had its price target lifted by equities research analysts at Stifel Nicolaus from $130.00 to $145.00 in a report issued on Thursday, Marketbeat.com reports. The brokerage currently has a "buy" rating on the casino operator's stock. Stifel Nicolaus' target price points to a potential upside of 15.43% from the stock's current price.

A number of other analysts have also recently commented on WYNN. JPMorgan Chase & Co. initiated coverage on Wynn Resorts in a research report on Monday, June 23rd. They set an "overweight" rating and a $109.00 price target for the company. Citigroup reiterated a "neutral" rating and set a $114.00 price objective (up from $108.00) on shares of Wynn Resorts in a research note on Wednesday, July 9th. Morgan Stanley boosted their target price on Wynn Resorts from $113.00 to $128.00 and gave the stock an "overweight" rating in a report on Thursday, September 11th. Argus upgraded 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, UBS Group raised Wynn Resorts from a "neutral" rating to a "buy" rating and boosted their target price for the company from $101.00 to $147.00 in a research report on Thursday, August 28th. Fourteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $125.47.

Wynn Resorts Price Performance

Shares of NASDAQ WYNN traded down $3.90 during mid-day trading on Thursday, reaching $125.62. The company's stock had a trading volume of 607,254 shares, compared to its average volume of 2,399,063. The stock has a fifty day moving average of $115.10 and a two-hundred day moving average of $96.72. Wynn Resorts has a 52 week low of $65.25 and a 52 week high of $130.84. The firm has a market capitalization of $13.06 billion, a PE ratio of 37.72, a P/E/G ratio of 6.59 and a beta of 1.37.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued 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). Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%.The business had revenue of $1.74 billion during the quarter, compared to analysts' expectations of $1.74 billion. During the same quarter in the previous year, the company posted $1.12 earnings per share. The company's quarterly revenue was up .6% compared to the same quarter last year. Analysts anticipate that Wynn Resorts will post 5.17 EPS for the current fiscal year.

Insider Transactions at Wynn Resorts

In other news, Director Patricia Mulroy sold 4,438 shares of Wynn Resorts stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total transaction of $554,750.00. Following the sale, the director owned 3,066 shares of the company's stock, valued at approximately $383,250. The trade was a 59.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.52% of the stock is owned by corporate insiders.

Institutional Trading of Wynn Resorts

Large investors have recently added to or reduced their stakes in the company. American Assets Inc. boosted its holdings in Wynn Resorts by 52.2% in the fourth quarter. American Assets Inc. now owns 10,200 shares of the casino operator's stock worth $879,000 after purchasing an additional 3,500 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Wynn Resorts by 5.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,207 shares of the casino operator's stock worth $621,000 after purchasing an additional 341 shares in the last quarter. Rafferty Asset Management LLC increased its holdings in shares of Wynn Resorts by 9.9% during the fourth quarter. Rafferty Asset Management LLC now owns 9,626 shares of the casino operator's stock worth $829,000 after buying an additional 868 shares in the last quarter. Snowden Capital Advisors LLC increased its holdings in shares of Wynn Resorts by 5.6% in the fourth quarter. Snowden Capital Advisors LLC now owns 2,589 shares of the casino operator's stock valued at $223,000 after purchasing an additional 138 shares in the last quarter. Finally, Twinbeech Capital LP acquired a new stake in shares of Wynn Resorts in the fourth quarter valued at approximately $363,000. 88.64% of the stock is owned by institutional investors and hedge funds.

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.