Macquarie Reaffirms Outperform Rating for Wynn Resorts (NASDAQ:WYNN)

Macquarie reissued their outperform rating on shares of Wynn Resorts (NASDAQ:WYNN) in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a $120.00 target price on the casino operator’s stock.

Several other research analysts have also recently weighed in on the company. Barclays reduced their price objective on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. upped their price objective on Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a research report on Tuesday. Susquehanna upped their price objective on Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft reduced their price objective on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Stifel Nicolaus dropped their target price on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a report on Friday, September 13th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $115.71.

Wynn Resorts Trading Down 9.3 %

NASDAQ:WYNN opened at $86.72 on Tuesday. 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 $9.63 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 2.48 and a beta of 1.80. The stock has a 50-day moving average price of $90.19 and a two-hundred day moving average price of $88.75.

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

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 5,689 shares in the company, valued at $447,894.97. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Wynn Resorts

Several institutional investors and hedge funds have recently made changes to their positions in the company. American Assets Investment Management LLC grew its position in shares of Wynn Resorts by 38.6% in the third quarter. American Assets Investment Management LLC now owns 31,310 shares of the casino operator’s stock valued at $3,002,000 after purchasing an additional 8,718 shares during the last quarter. American Assets Capital Advisers LLC grew its position in shares of Wynn Resorts by 221.9% in the third quarter. American Assets Capital Advisers LLC now owns 213,001 shares of the casino operator’s stock valued at $20,423,000 after purchasing an additional 146,823 shares during the last quarter. American Assets Inc. acquired a new position in shares of Wynn Resorts in the third quarter valued at approximately $642,000. Crystal Rock Capital Management acquired a new position in shares of Wynn Resorts in the third quarter valued at approximately $719,000. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of Wynn Resorts by 4.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 188,753 shares of the casino operator’s stock valued at $18,098,000 after purchasing an additional 7,850 shares during the last quarter. Institutional investors and hedge funds own 68.87% of the company’s stock.

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.