Wynn Resorts (WYNN) Lifted to “Buy” at Bank of America

Wynn Resorts (NASDAQ:WYNN) was upgraded by analysts at Bank of America from a “neutral” rating to a “buy” rating in a report issued on Thursday, MarketBeat Ratings reports. The firm presently has a $165.00 target price on the casino operator’s stock, up from their prior target price of $150.00. Bank of America‘s price target would indicate a potential upside of 10.52% from the company’s current price.

Several other analysts also recently issued reports on WYNN. BidaskClub downgraded shares of Wynn Resorts from a “hold” rating to a “sell” rating in a report on Tuesday, January 1st. Deutsche Bank upped their price target on shares of Wynn Resorts from $123.00 to $130.00 and gave the company a “buy” rating in a report on Monday, January 7th. Zacks Investment Research raised shares of Wynn Resorts from a “strong sell” rating to a “buy” rating and set a $123.00 price target on the stock in a report on Saturday, January 12th. Stifel Nicolaus upped their price target on shares of Wynn Resorts from $138.00 to $141.00 and gave the company a “buy” rating in a report on Wednesday, January 16th. Finally, ValuEngine raised shares of Wynn Resorts from a “sell” rating to a “hold” rating in a report on Tuesday, January 29th. Eight investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $151.24.

Shares of WYNN opened at $149.30 on Thursday. The company has a current ratio of 1.40, a quick ratio of 1.37 and a debt-to-equity ratio of 5.19. Wynn Resorts has a twelve month low of $90.06 and a twelve month high of $202.48. The stock has a market cap of $16.07 billion, a price-to-earnings ratio of 22.83, a P/E/G ratio of 2.27 and a beta of 1.68.

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

In related news, CEO Matt Maddox sold 18,900 shares of the company’s stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $124.15, for a total transaction of $2,346,435.00. Following the transaction, the chief executive officer now owns 487,399 shares of the company’s stock, valued at $60,510,585.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Patricia Mulroy sold 425 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $118.02, for a total transaction of $50,158.50. The disclosure for this sale can be found here. Corporate insiders own 0.58% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Wynn Resorts by 6.6% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 13,019 shares of the casino operator’s stock worth $1,553,000 after acquiring an additional 802 shares in the last quarter. Securian Asset Management Inc grew its holdings in Wynn Resorts by 1.3% during the 1st quarter. Securian Asset Management Inc now owns 9,943 shares of the casino operator’s stock valued at $1,186,000 after purchasing an additional 131 shares in the last quarter. World Asset Management Inc grew its holdings in Wynn Resorts by 7.4% during the 1st quarter. World Asset Management Inc now owns 7,088 shares of the casino operator’s stock valued at $846,000 after purchasing an additional 489 shares in the last quarter. Bank of Montreal Can grew its holdings in Wynn Resorts by 12.6% during the 1st quarter. Bank of Montreal Can now owns 42,465 shares of the casino operator’s stock valued at $5,067,000 after purchasing an additional 4,768 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Wynn Resorts during the 1st quarter valued at $3,423,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

About Wynn Resorts

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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