Wynn Resorts (NASDAQ:WYNN) Given New $150.00 Price Target at The Goldman Sachs Group

Key Points

• The Goldman Sachs Group has raised its price target for Wynn Resorts from $124.00 to $150.00, indicating a potential upside of 14.34% from its previous close.
• Wynn Resorts is currently rated as a "buy" by multiple analysts, with an average price target of $127.33 across 14 equity research ratings.
• The stock recently traded up 2.3%, reaching $131.19, and reported earnings of $1.09 per share, slightly below analyst expectations.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) had its price target lifted by research analysts at The Goldman Sachs Group from $124.00 to $150.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the casino operator's stock. The Goldman Sachs Group's price target points to a potential upside of 14.34% from the stock's previous close.

Several other research analysts also recently commented on the company. Jefferies Financial Group lifted their price target on Wynn Resorts from $130.00 to $133.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. UBS Group raised shares of Wynn Resorts from a "neutral" rating to a "buy" rating and upped their price objective for the company from $101.00 to $147.00 in a research report on Thursday, August 28th. Mizuho lifted their target price on Wynn Resorts from $122.00 to $126.00 and gave the stock an "outperform" rating in a research report on Monday, August 11th. JPMorgan Chase & Co. started coverage on Wynn Resorts in a report on Monday, June 23rd. They issued an "overweight" rating and a $109.00 price target for the company. Finally, 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. Fourteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Wynn Resorts presently has an average rating of "Moderate Buy" and an average price target of $127.33.

Wynn Resorts Trading Up 2.3%

NASDAQ WYNN traded up $2.92 on Wednesday, reaching $131.19. The stock had a trading volume of 676,792 shares, compared to its average volume of 2,359,851. The company has a market capitalization of $13.64 billion, a price-to-earnings ratio of 39.40, a P/E/G ratio of 6.74 and a beta of 1.37. The business has a 50 day moving average price of $117.76 and a 200 day moving average price of $98.65. Wynn Resorts has a 1 year low of $65.25 and a 1 year high of $134.07.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its earnings results on Thursday, August 7th. The casino operator reported $1.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.20 by ($0.11). The company 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 for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.12 EPS. On average, analysts anticipate that Wynn Resorts will post 5.17 earnings per share for the current fiscal year.

Insider Activity at Wynn Resorts

In other news, Director Patricia Mulroy sold 4,438 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total value of $554,750.00. Following the sale, the director directly owned 3,066 shares of the company's stock, valued at approximately $383,250. This represents a 59.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.52% of the company's stock.

Institutional Investors Weigh In On Wynn Resorts

Several institutional investors have recently made changes to their positions in the stock. Dagco Inc. acquired a new stake in shares of Wynn Resorts in the 1st quarter valued at $25,000. AlphaQuest LLC bought a new stake in Wynn Resorts in the first quarter worth approximately $25,000. MUFG Securities EMEA plc acquired a new stake in Wynn Resorts in the second quarter worth $25,000. Global X Japan Co. Ltd. lifted its holdings in shares of Wynn Resorts by 120.7% in the 1st quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator's stock worth $27,000 after purchasing an additional 175 shares in the last quarter. Finally, Manchester Capital Management LLC raised its stake in shares of Wynn Resorts by 1,500.0% in the second quarter. Manchester Capital Management LLC now owns 320 shares of the casino operator's stock worth $30,000 after purchasing an additional 300 shares during the last quarter. 88.64% of the stock is currently owned by institutional investors.

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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