Wynn Resorts (NASDAQ:WYNN) had its target price increased by JPMorgan Chase & Co. from $136.00 to $143.00 in a research report issued to clients and investors on Thursday, AnalystRatings.com reports. The firm currently has an “overweight” rating on the casino operator’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 13.07% from the company’s previous close.

Several other analysts have also recently issued reports on the stock. UBS Group cut their price target on shares of Wynn Resorts from $119.00 to $114.00 and set a “neutral” rating on the stock in a report on Wednesday, August 21st. BidaskClub upgraded Wynn Resorts from a “sell” rating to a “hold” rating in a report on Saturday, October 12th. Jefferies Financial Group raised their price objective on shares of Wynn Resorts from $160.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Deutsche Bank set a $150.00 price objective on Wynn Resorts and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, Nomura lowered their price objective on Wynn Resorts from $126.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company’s stock. Wynn Resorts has an average rating of “Buy” and an average price target of $137.59.

WYNN traded up $0.98 during trading on Thursday, hitting $126.47. 1,396,900 shares of the company’s stock traded hands, compared to its average volume of 2,073,250. The stock has a market capitalization of $13.62 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 2.43 and a beta of 2.07. The company’s 50 day simple moving average is $114.45 and its two-hundred day simple moving average is $120.37. The company has a current ratio of 1.00, a quick ratio of 0.95 and a debt-to-equity ratio of 5.00. Wynn Resorts has a 12-month low of $90.06 and a 12-month high of $151.50.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Wednesday, November 6th. The casino operator reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.73). The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Wynn Resorts had a return on equity of 34.98% and a net margin of 12.41%. Wynn Resorts’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.68 earnings per share. On average, equities analysts expect that Wynn Resorts will post 5.21 EPS for the current year.

In other Wynn Resorts news, CEO Matt Maddox sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $122.47, for a total value of $3,061,750.00. Following the sale, the chief executive officer now owns 407,107 shares in the company, valued at approximately $49,858,394.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 75,000 shares of company stock worth $8,750,250 in the last 90 days. Company insiders own 0.58% of the company’s stock.

Several institutional investors have recently made changes to their positions in WYNN. Egerton Capital UK LLP raised its stake in shares of Wynn Resorts by 51.4% during the 2nd quarter. Egerton Capital UK LLP now owns 3,487,638 shares of the casino operator’s stock worth $432,432,000 after purchasing an additional 1,184,251 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Wynn Resorts by 9.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 8,857,209 shares of the casino operator’s stock worth $1,098,205,000 after purchasing an additional 801,270 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Wynn Resorts during the 2nd quarter worth approximately $54,333,000. Hoplite Capital Management L.P. acquired a new position in shares of Wynn Resorts during the 2nd quarter worth approximately $29,677,000. Finally, Polaris Greystone Financial Group LLC acquired a new position in shares of Wynn Resorts during the 2nd quarter worth approximately $27,823,000. Institutional investors own 75.66% 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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Analyst Recommendations for Wynn Resorts (NASDAQ:WYNN)

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