Wynn Resorts (NASDAQ:WYNN) Upgraded at Argus

Key Points

• Wynn Resorts has been upgraded from a "hold" to a "buy" rating by Argus, with a price target of $145, indicating a potential upside of 15.57% from its previous close.
• Fourteen investment analysts have rated Wynn Resorts as a Buy, reflecting a consensus rating of "Moderate Buy" and an average price target of $123.47.
• Wynn Resorts reported $1.09 EPS for the last quarter, missing the consensus estimate of $1.20, while revenue remained steady at $1.74 billion.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) was upgraded by investment analysts at Argus from a "hold" rating to a "buy" rating in a report released on Wednesday,Finviz reports. The firm presently has a $145.00 price target on the casino operator's stock. Argus' target price would suggest a potential upside of 15.57% from the company's previous close.

A number of other equities research analysts have also recently issued reports on the stock. Barclays upped their price objective on shares of Wynn Resorts from $101.00 to $127.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. JPMorgan Chase & Co. began coverage on shares of Wynn Resorts in a report on Monday, June 23rd. They set an "overweight" rating and a $109.00 price target for the company. Citigroup restated a "neutral" rating and set a $114.00 price target (up from $108.00) on shares of Wynn Resorts in a report on Wednesday, July 9th. Morgan Stanley upped their target price on shares of Wynn Resorts from $111.00 to $113.00 and gave the company an "overweight" rating in a research note on Tuesday, August 12th. Finally, Bank of America upgraded shares of Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 target price for the company in a research note on Wednesday, May 7th. Fourteen investment analysts have rated the stock with a Buy rating and one has assigned 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 $123.47.

Wynn Resorts Stock Down 1.0%

Wynn Resorts stock opened at $125.47 on Wednesday. The company's fifty day simple moving average is $109.82 and its 200-day simple moving average is $93.65. Wynn Resorts has a 12 month low of $65.25 and a 12 month high of $128.53. The stock has a market cap of $13.05 billion, a P/E ratio of 37.68, a P/E/G ratio of 6.76 and a beta of 1.37.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The casino operator reported $1.09 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.11). The company had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.74 billion. Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. The company's revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.12 earnings per share. On average, equities research analysts expect that Wynn Resorts will post 5.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of WYNN. American Assets Inc. raised its stake in shares of Wynn Resorts by 52.2% in the fourth quarter. American Assets Inc. now owns 10,200 shares of the casino operator's stock valued at $879,000 after acquiring an additional 3,500 shares during the last quarter. BOKF NA raised its position in Wynn Resorts by 3.9% in the 4th quarter. BOKF NA now owns 3,557 shares of the casino operator's stock worth $289,000 after purchasing an additional 132 shares during the last quarter. Cetera Investment Advisers raised its position in Wynn Resorts by 63.2% in the 4th quarter. Cetera Investment Advisers now owns 31,928 shares of the casino operator's stock worth $2,751,000 after purchasing an additional 12,364 shares during the last quarter. Concentric Capital Strategies LP bought a new position in Wynn Resorts in the 4th quarter worth approximately $1,168,000. Finally, Eminence Capital LP bought a new position in Wynn Resorts in the 4th quarter worth approximately $13,555,000. Institutional investors own 88.64% of the company's stock.

Wynn Resorts Company Profile

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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