Morgan Stanley Lowers Wynn Resorts (NASDAQ:WYNN) Price Target to $97.00

Wynn Resorts (NASDAQ:WYNN) had its price objective reduced by stock analysts at Morgan Stanley from $107.00 to $97.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the casino operator’s stock. Morgan Stanley’s target price would indicate a potential upside of 25.78% from the company’s current price.

A number of other research analysts also recently weighed in on the stock. Stifel Nicolaus raised their target price on shares of Wynn Resorts from $135.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Argus upgraded Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a report on Thursday, May 23rd. Jefferies Financial Group dropped their target price on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. UBS Group upgraded Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. Finally, Macquarie reiterated an “outperform” rating and set a $126.00 price objective on shares of Wynn Resorts in a research note on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $116.07.

Wynn Resorts Price Performance

WYNN opened at $77.12 on Wednesday. The company has a market capitalization of $8.64 billion, a price-to-earnings ratio of 10.56, a P/E/G ratio of 1.72 and a beta of 1.82. The business’s 50-day moving average price is $80.17 and its two-hundred day moving average price is $91.65. Wynn Resorts has a 1 year low of $71.63 and a 1 year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.91 EPS. Sell-side analysts anticipate that Wynn Resorts will post 5.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wynn Resorts

Hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC bought a new position in shares of Wynn Resorts during the second quarter worth approximately $25,000. ICA Group Wealth Management LLC bought a new position in Wynn Resorts during the 4th quarter worth $27,000. Register Financial Advisors LLC bought a new position in Wynn Resorts during the 1st quarter worth $37,000. Federated Hermes Inc. lifted its holdings in shares of Wynn Resorts by 47.5% during the fourth quarter. Federated Hermes Inc. now owns 435 shares of the casino operator’s stock worth $40,000 after buying an additional 140 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new stake in shares of Wynn Resorts in the fourth quarter valued at about $40,000. 68.87% of the stock is currently owned by institutional investors and hedge funds.

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.