Wynn Resorts (NASDAQ:WYNN) Price Target Cut to $134.00 by Analysts at Barclays

Key Points

• Barclays cut its price target on Wynn Resorts from $139 to $134 while keeping an overweight rating. The new target still implies about 36.6% upside from the previous close.
• Analyst sentiment remains generally positive despite some target reductions from other firms. Wynn currently has a consensus rating of Moderate Buy with an average price target of $138.75.
• Wynn’s latest quarterly results beat expectations, with EPS of $1.25 versus the $1.18 estimate and revenue of $1.86 billion versus $1.82 billion expected. Revenue rose 9.2% year over year.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) had its price objective reduced by stock analysts at Barclays from $139.00 to $134.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the casino operator's stock. Barclays's target price would suggest a potential upside of 36.56% from the stock's previous close.

Several other brokerages have also issued reports on WYNN. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $137.00 target price on shares of Wynn Resorts in a research note on Friday, May 8th. Weiss Ratings reissued a "hold (c)" rating on shares of Wynn Resorts in a research note on Wednesday, June 24th. Jefferies Financial Group lowered their price objective on shares of Wynn Resorts from $161.00 to $150.00 and set a "buy" rating for the company in a report on Monday, April 6th. Susquehanna reduced their target price on shares of Wynn Resorts from $133.00 to $127.00 and set a "positive" rating on the stock in a report on Thursday, April 16th. Finally, Bank of America decreased their target price on shares of Wynn Resorts from $150.00 to $140.00 and set a "buy" rating on the stock in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $138.75.

Wynn Resorts Stock Up 0.2%

NASDAQ WYNN opened at $98.13 on Thursday. The stock's 50-day simple moving average is $101.46 and its two-hundred day simple moving average is $107.08. Wynn Resorts has a twelve month low of $93.15 and a twelve month high of $134.72. The company has a market capitalization of $10.18 billion, a price-to-earnings ratio of 29.27, a PEG ratio of 0.90 and a beta of 0.99.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The casino operator reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.18 by $0.07. The firm had revenue of $1.86 billion during the quarter, compared to analysts' expectations of $1.82 billion. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The company's revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.07 EPS. On average, equities analysts expect that Wynn Resorts will post 4.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wynn Resorts

A number of large investors have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. increased its stake in shares of Wynn Resorts by 54.9% during the fourth quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator's stock valued at $30,000 after buying an additional 89 shares during the period. Horizon Investments LLC boosted its holdings in Wynn Resorts by 6.7% in the fourth quarter. Horizon Investments LLC now owns 1,500 shares of the casino operator's stock valued at $180,000 after acquiring an additional 94 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in Wynn Resorts by 4.9% in the first quarter. QRG Capital Management Inc. now owns 2,071 shares of the casino operator's stock valued at $210,000 after acquiring an additional 96 shares in the last quarter. Parallel Advisors LLC increased its position in Wynn Resorts by 21.6% during the 3rd quarter. Parallel Advisors LLC now owns 563 shares of the casino operator's stock valued at $72,000 after purchasing an additional 100 shares during the period. Finally, Cromwell Holdings LLC raised its holdings in Wynn Resorts by 68.2% in the 4th quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator's stock worth $31,000 after purchasing an additional 103 shares in the last quarter. Institutional investors 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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