Deutsche Bank reaffirmed their buy rating on shares of Wynn Resorts (NASDAQ:WYNN) in a research report report published on Wednesday, AnalystRatings.com reports. They currently have a $155.00 price target on the casino operator’s stock.
A number of other brokerages also recently issued reports on WYNN. BidaskClub raised shares of Wynn Resorts from a buy rating to a strong-buy rating in a research report on Tuesday, April 16th. Bank of America raised shares of Wynn Resorts from a neutral rating to a buy rating and upped their price objective for the stock from $150.00 to $165.00 in a research report on Thursday, April 25th. Zacks Investment Research downgraded shares of Wynn Resorts from a buy rating to a hold rating in a research report on Saturday, April 13th. Goldman Sachs Group assumed coverage on shares of Wynn Resorts in a research report on Wednesday, April 10th. They issued a neutral rating and a $132.00 price objective for the company. Finally, Jefferies Financial Group raised shares of Wynn Resorts from a hold rating to a buy rating and upped their price objective for the stock from $119.00 to $170.00 in a research report on Monday, April 8th. Eight equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $151.24.
Shares of NASDAQ:WYNN traded up $1.80 during midday trading on Wednesday, hitting $147.36. 1,095,872 shares of the company’s stock were exchanged, compared to its average volume of 1,843,263. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.40 and a quick ratio of 1.37. The company has a market cap of $15.86 billion, a PE ratio of 22.53, a PEG ratio of 2.31 and a beta of 1.76. Wynn Resorts has a 12 month low of $90.06 and a 12 month high of $202.48.
Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Wednesday, January 30th. The casino operator reported $1.06 EPS for the quarter, missing the consensus estimate of $1.36 by ($0.30). Wynn Resorts had a return on equity of 47.05% and a net margin of 8.70%. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the previous year, the firm earned $1.40 earnings per share. The company’s revenue was up 4.0% on a year-over-year basis. On average, equities research analysts expect that Wynn Resorts will post 6.38 earnings per share for the current fiscal year.
In other Wynn Resorts news, CEO Matt Maddox sold 18,900 shares of the business’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $124.15, for a total value of $2,346,435.00. Following the transaction, the chief executive officer now directly owns 487,399 shares in the company, valued at $60,510,585.85. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Patricia Mulroy sold 425 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $118.02, for a total transaction of $50,158.50. The disclosure for this sale can be found here. 0.58% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its stake in shares of Wynn Resorts by 12.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 824,428 shares of the casino operator’s stock valued at $104,752,000 after buying an additional 89,007 shares in the last quarter. GFS Advisors LLC purchased a new stake in shares of Wynn Resorts during the 3rd quarter valued at approximately $266,000. Kentucky Retirement Systems purchased a new stake in shares of Wynn Resorts during the 3rd quarter valued at approximately $1,295,000. Standard Life Aberdeen plc lifted its stake in shares of Wynn Resorts by 17.9% during the 3rd quarter. Standard Life Aberdeen plc now owns 31,773 shares of the casino operator’s stock valued at $4,037,000 after buying an additional 4,834 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Wynn Resorts by 3.2% during the 3rd quarter. Legal & General Group Plc now owns 394,023 shares of the casino operator’s stock valued at $50,064,000 after buying an additional 12,369 shares in the last quarter. Hedge funds and other institutional investors own 75.61% of the company’s stock.
Wynn Resorts Company Profile
Wynn Resorts, Limited owns and operates destination casino resorts. As of February 20, 2019, the company's Wynn Palace segment had approximately 424,000 square feet of casino space, which offered 320 table games and 1,041 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas; 13 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities comprising a gondola ride, health club, spa, salon, and pool; and public attractions, such as performance lake and floral art displays.
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