Stifel Nicolaus Lowers Wynn Resorts (NASDAQ:WYNN) Price Target to $103.00

Wynn Resorts (NASDAQ:WYNN) had its price objective decreased by analysts at Stifel Nicolaus from $121.00 to $103.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the casino operator’s stock. Stifel Nicolaus’ price objective points to a potential upside of 31.28% from the company’s current price.

Several other research firms have also commented on WYNN. Argus raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a research report on Thursday, May 23rd. Seaport Res Ptn upgraded Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 30th. JPMorgan Chase & Co. lowered their price target on Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Morgan Stanley reduced their price objective on shares of Wynn Resorts from $107.00 to $97.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 4th. Finally, Jefferies Financial Group lowered their target price on shares of Wynn Resorts from $111.00 to $96.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $113.73.

Wynn Resorts Stock Up 2.9 %

Shares of NASDAQ:WYNN opened at $78.46 on Friday. Wynn Resorts has a 52-week low of $71.63 and a 52-week high of $110.38. The stock has a market cap of $8.71 billion, a P/E ratio of 10.75, a PEG ratio of 1.93 and a beta of 1.80. The business has a fifty day moving average of $78.87 and a two-hundred day moving average of $90.45.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data 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). Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the prior year, the company posted $0.91 EPS. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, equities analysts anticipate that Wynn Resorts will post 5.55 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC purchased a new position in Wynn Resorts in the second quarter worth approximately $25,000. ICA Group Wealth Management LLC acquired a new position in shares of Wynn Resorts during the fourth quarter worth $27,000. Register Financial Advisors LLC acquired a new position in shares of Wynn Resorts during the first quarter worth $37,000. Neo Ivy Capital Management purchased a new position in Wynn Resorts in the fourth quarter valued at $40,000. Finally, Versant Capital Management Inc acquired a new stake in Wynn Resorts in the second quarter valued at $51,000. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

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.