Wynn Resorts (NASDAQ:WYNN) Given Outperform Rating at Macquarie

Wynn Resorts (NASDAQ:WYNN)‘s stock had its “outperform” rating restated by stock analysts at Macquarie in a report released on Tuesday, Benzinga reports. They currently have a $120.00 price objective on the casino operator’s stock. Macquarie’s price target suggests a potential upside of 40.65% from the stock’s previous close.

Several other research firms have also recently weighed in on WYNN. Wells Fargo & Company cut their price objective on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Tuesday. UBS Group raised Wynn Resorts to a “hold” rating in a research report on Friday, August 23rd. Jefferies Financial Group dropped their price target on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. StockNews.com cut Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Finally, Barclays dropped their price target on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a research report on Tuesday. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $115.71.

Wynn Resorts Trading Down 1.6 %

WYNN stock opened at $85.32 on Tuesday. The stock’s fifty day simple moving average is $90.38 and its two-hundred day simple moving average is $88.69. Wynn Resorts has a 1-year low of $71.63 and a 1-year high of $110.38. The stock has a market cap of $9.47 billion, a P/E ratio of 10.54, a P/E/G ratio of 2.48 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.11). Wynn Resorts had a negative return on equity of 62.44% and a net margin of 13.37%. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the firm posted $0.99 EPS. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, analysts forecast that Wynn Resorts will post 5.42 earnings per share for the current fiscal year.

Insider Activity at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the sale, the director now directly owns 5,689 shares in the company, valued at approximately $447,894.97. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.52% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Wynn Resorts

A number of institutional investors have recently added to or reduced their stakes in WYNN. Norden Group LLC bought a new position in Wynn Resorts in the 1st quarter worth about $231,000. First Trust Direct Indexing L.P. purchased a new position in shares of Wynn Resorts in the 1st quarter worth about $260,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Wynn Resorts by 25.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,810 shares of the casino operator’s stock worth $1,567,000 after purchasing an additional 2,982 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Wynn Resorts by 10.8% in the 1st quarter. Daiwa Securities Group Inc. now owns 9,883 shares of the casino operator’s stock worth $1,010,000 after purchasing an additional 965 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Wynn Resorts by 42.9% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,796 shares of the casino operator’s stock worth $593,000 after purchasing an additional 1,740 shares in the last quarter. 68.87% of the stock is currently owned by institutional investors.

About Wynn Resorts

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.