Morgan Stanley Boosts Wynn Resorts (NASDAQ:WYNN) Price Target to $112.00

Wynn Resorts (NASDAQ:WYNN) had its price target lifted by investment analysts at Morgan Stanley from $104.00 to $112.00 in a report released on Friday, Benzinga reports. The firm presently has an “overweight” rating on the casino operator’s stock. Morgan Stanley’s target price would suggest a potential upside of 6.92% from the company’s current price.

Other research analysts have also issued research reports about the company. Macquarie reiterated an “outperform” rating and set a $126.00 price target on shares of Wynn Resorts in a report on Wednesday, August 7th. Stifel Nicolaus reduced their price objective on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a report on Friday, September 13th. Wells Fargo & Company reduced their price objective on shares of Wynn Resorts from $126.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. UBS Group upgraded shares of Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. Finally, StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $115.20.

Wynn Resorts Stock Up 1.0 %

NASDAQ WYNN opened at $104.75 on Friday. Wynn Resorts has a 52 week low of $71.63 and a 52 week high of $110.38. The business’s fifty day simple moving average is $82.92 and its 200-day simple moving average is $89.37. The firm has a market cap of $11.74 billion, a PE ratio of 14.35, a P/E/G ratio of 2.67 and a beta of 1.81.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Tuesday, August 6th. The casino operator reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the prior year, the firm earned $0.91 EPS. The firm’s revenue was up 8.4% on a year-over-year basis. Research analysts expect that Wynn Resorts will post 5.44 EPS for the current year.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of Wynn Resorts stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the completion of the transaction, the director now directly owns 5,689 shares of the company’s stock, valued at $447,894.97. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.52% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Wynn Resorts

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sei Investments Co. grew its position in shares of Wynn Resorts by 5.6% during the first quarter. Sei Investments Co. now owns 139,038 shares of the casino operator’s stock worth $14,214,000 after buying an additional 7,380 shares in the last quarter. Concord Investment Counsel Inc. acquired a new position in shares of Wynn Resorts during the first quarter worth about $2,461,000. UniSuper Management Pty Ltd grew its position in shares of Wynn Resorts by 540.6% during the first quarter. UniSuper Management Pty Ltd now owns 10,179 shares of the casino operator’s stock worth $1,041,000 after buying an additional 8,590 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Wynn Resorts by 1.5% during the first quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock worth $1,127,456,000 after buying an additional 166,594 shares in the last quarter. Finally, OPTIMAS CAPITAL Ltd acquired a new position in shares of Wynn Resorts during the first quarter worth about $3,394,000. 68.87% of the stock is 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.