Wynn Resorts (NASDAQ:WYNN) Upgraded at Jefferies Financial Group

Wynn Resorts (NASDAQ:WYNN) was upgraded by equities researchers at Jefferies Financial Group from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, MarketBeat reports. The brokerage currently has a $118.00 price target on the casino operator’s stock, up from their prior price target of $105.00. Jefferies Financial Group’s price target would indicate a potential upside of 32.85% 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 shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Barclays upped their price target on shares of Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a report on Friday. Mizuho lifted their price objective on shares of Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday. Macquarie restated an “outperform” rating and set a $115.00 target price on shares of Wynn Resorts in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.58.

Wynn Resorts Stock Up 10.4 %

Shares of NASDAQ:WYNN opened at $88.82 on Tuesday. Wynn Resorts has a 12-month low of $71.63 and a 12-month high of $110.38. The company’s 50 day moving average price is $85.52 and its two-hundred day moving average price is $86.96. The firm has a market cap of $9.75 billion, a PE ratio of 10.95, a PEG ratio of 2.32 and a beta of 1.76.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $1.15. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.78 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. On average, research analysts expect that Wynn Resorts will post 4.69 EPS for the current year.

Institutional Trading of Wynn Resorts

Hedge funds have recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Wynn Resorts by 3.2% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,622 shares of the casino operator’s stock valued at $923,000 after buying an additional 302 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Wynn Resorts by 556.0% during the third quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after acquiring an additional 467 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of Wynn Resorts by 16.2% during the third quarter. Raymond James & Associates now owns 123,006 shares of the casino operator’s stock worth $11,794,000 after purchasing an additional 17,161 shares during the period. Townsend Asset Management Corp NC ADV grew its stake in shares of Wynn Resorts by 6.7% in the third quarter. Townsend Asset Management Corp NC ADV now owns 42,295 shares of the casino operator’s stock worth $4,055,000 after purchasing an additional 2,638 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in Wynn Resorts by 62.3% in the third quarter. Sequoia Financial Advisors LLC now owns 418,070 shares of the casino operator’s stock valued at $40,085,000 after purchasing an additional 160,533 shares during the period. 88.64% 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.