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

Macquarie restated their outperform rating on shares of Wynn Resorts (NASDAQ:WYNN) in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has a $120.00 target price on the casino operator’s stock.

Other analysts have also issued research reports about the company. Susquehanna lifted their price objective on Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft decreased their price objective on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a report on Tuesday. Barclays decreased their price objective on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. lifted their price objective on Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Jefferies Financial Group decreased their price objective on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $115.71.

Wynn Resorts Trading Down 9.3 %

Shares of Wynn Resorts stock opened at $86.72 on Tuesday. The stock has a 50-day moving average price of $90.19 and a 200 day moving average price of $88.75. The company has a market cap of $9.63 billion, a P/E ratio of 10.69, a P/E/G ratio of 2.48 and a beta of 1.80. Wynn Resorts has a 1 year low of $71.63 and a 1 year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.11). The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Wynn Resorts had a negative return on equity of 62.44% and a net margin of 13.37%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.99 earnings per share. On average, equities analysts forecast that Wynn Resorts will post 5.42 earnings per share for the current fiscal 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 on 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 owns 5,689 shares in the company, valued at approximately $447,894.97. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Wynn Resorts

Several institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC bought a new stake in shares of Wynn Resorts during the second quarter worth $25,000. Blue Trust Inc. raised its position 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 worth $49,000 after acquiring an additional 467 shares during the last quarter. Versant Capital Management Inc bought a new stake in shares of Wynn Resorts during the second quarter worth $51,000. Covestor Ltd raised its position in shares of Wynn Resorts by 421.7% during the first quarter. Covestor Ltd now owns 626 shares of the casino operator’s stock worth $64,000 after acquiring an additional 506 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Wynn Resorts by 25.1% during the second quarter. GAMMA Investing LLC now owns 828 shares of the casino operator’s stock worth $74,000 after acquiring an additional 166 shares during the last quarter. Institutional investors own 68.87% of the company’s stock.

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.