Wynn Resorts (NASDAQ:WYNN) Rating Increased to Hold at ValuEngine

Wynn Resorts (NASDAQ:WYNN) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Monday, April 1st, ValuEngine reports.

Several other analysts also recently weighed in on WYNN. Morgan Stanley restated a “hold” rating on shares of Wynn Resorts in a research note on Monday, December 3rd. Deutsche Bank reiterated a “buy” rating and issued a $123.00 price target on shares of Wynn Resorts in a research note on Monday, December 17th. BidaskClub upgraded Wynn Resorts from a “sell” rating to a “hold” rating in a research note on Tuesday, December 18th. Zacks Investment Research upgraded Wynn Resorts from a “strong sell” rating to a “buy” rating and set a $123.00 price target for the company in a research note on Saturday, January 12th. Finally, Stifel Nicolaus lifted their target price on Wynn Resorts from $138.00 to $141.00 and gave the company a “buy” rating in a research note on Wednesday, January 16th. Eight equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Wynn Resorts has an average rating of “Buy” and an average price target of $151.24.

NASDAQ:WYNN traded up $2.30 during mid-day trading on Monday, hitting $149.30. The company had a trading volume of 1,563,980 shares, compared to its average volume of 2,169,100. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.40 and a quick ratio of 1.37. Wynn Resorts has a 1 year low of $90.06 and a 1 year high of $202.48. The firm has a market capitalization of $15.38 billion, a PE ratio of 22.83, a price-to-earnings-growth ratio of 2.27 and a beta of 1.68.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Wednesday, January 30th. The casino operator reported $1.06 EPS for the quarter, missing the consensus estimate of $1.36 by ($0.30). The company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Wynn Resorts had a net margin of 8.70% and a return on equity of 47.05%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the business earned $1.40 earnings per share. Equities analysts anticipate that Wynn Resorts will post 6.3 EPS for the current year.

In other Wynn Resorts news, Director Patricia Mulroy sold 425 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $118.02, for a total value of $50,158.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Matt Maddox sold 18,900 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 487,399 shares in the company, valued at approximately $60,510,585.85. The disclosure for this sale can be found here. 0.58% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Wynn Resorts during the 1st quarter worth approximately $3,423,000. Wright Investors Service Inc. grew its position in Wynn Resorts by 39.3% during the 1st quarter. Wright Investors Service Inc. now owns 3,642 shares of the casino operator’s stock worth $435,000 after purchasing an additional 1,028 shares in the last quarter. Coronation Fund Managers Ltd. purchased a new position in Wynn Resorts during the 1st quarter worth approximately $4,200,000. Mercer Global Advisors Inc. ADV purchased a new position in Wynn Resorts during the 1st quarter worth approximately $282,000. Finally, Investors Research Corp purchased a new position in Wynn Resorts during the 1st quarter worth approximately $94,000. 75.10% of the stock is currently owned by institutional investors.

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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