Wynn Resorts (NASDAQ:WYNN) Downgraded by BidaskClub to Hold

BidaskClub lowered shares of Wynn Resorts (NASDAQ:WYNN) from a buy rating to a hold rating in a research note issued to investors on Thursday morning, BidAskClub reports.

A number of other research firms also recently issued reports on WYNN. ValuEngine raised Wynn Resorts from a sell rating to a hold rating in a research report on Tuesday, July 9th. Deutsche Bank reissued a buy rating and issued a $155.00 target price on shares of Wynn Resorts in a research report on Monday, July 15th. Bank of America raised Wynn Resorts from a neutral rating to a buy rating and raised their target price for the stock from $150.00 to $165.00 in a research report on Thursday, April 25th. Goldman Sachs Group initiated coverage on Wynn Resorts in a research report on Wednesday, April 10th. They issued a neutral rating and a $132.00 target price for the company. Finally, Barclays reissued a buy rating on shares of Wynn Resorts in a research report on Wednesday, May 15th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $147.44.

NASDAQ:WYNN traded down $3.22 during trading hours on Thursday, reaching $119.70. The stock had a trading volume of 2,347,395 shares, compared to its average volume of 2,066,521. The company has a current ratio of 1.19, a quick ratio of 1.16 and a debt-to-equity ratio of 4.84. The stock has a 50 day moving average of $129.52. Wynn Resorts has a 12-month low of $90.06 and a 12-month high of $156.75. The firm has a market capitalization of $14.60 billion, a PE ratio of 18.30, a P/E/G ratio of 2.24 and a beta of 1.93.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Thursday, May 9th. The casino operator reported $1.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.02. Wynn Resorts had a return on equity of 35.83% and a net margin of 13.43%. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period last year, the business posted $2.30 earnings per share. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. As a group, equities research analysts expect that Wynn Resorts will post 6.05 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Optimum Investment Advisors purchased a new position in shares of Wynn Resorts in the first quarter valued at $36,000. Manchester Financial Inc. purchased a new position in shares of Wynn Resorts in the second quarter valued at $36,000. Zions Bancorporation N.A. purchased a new position in shares of Wynn Resorts in the first quarter valued at $41,000. Somerset Trust Co grew its position in shares of Wynn Resorts by 152.7% in the first quarter. Somerset Trust Co now owns 369 shares of the casino operator’s stock valued at $44,000 after purchasing an additional 223 shares in the last quarter. Finally, First Hawaiian Bank grew its position in shares of Wynn Resorts by 295.0% in the first quarter. First Hawaiian Bank now owns 395 shares of the casino operator’s stock valued at $47,000 after purchasing an additional 295 shares in the last quarter. Institutional investors own 76.86% 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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