Wynn Resorts, Limited (NASDAQ:WYNN) Receives an Average Rating of “Hold” by Brokerages

Wynn Resorts, Limited (NASDAQ:WYNN – Get Rating) has received a consensus recommendation of “Hold” from the fifteen analysts who cover the company, Marketbeat reports. One research analyst rated the stock with a sell rating, five assigned a hold rating and six issued a buy rating on the company. The 12-month average price target among analysts who have rated the stock over the past year is $96.88.

A number of analysts have weighed in on the company. UBS Group set a price target of $67.00 on Wynn Resorts in a Monday, June 20 research report. Deutsche Bank Aktiengesellschaft cut its price target on Wynn Resorts from $92.00 to $85.00 and set a “buy” rating on the stock in a Wednesday, August 10 research note. Citigroup cut its price target on Wynn Resorts from $92.00 to $87.50 and set a “buy” rating on the stock in a Tuesday, July 5 research note. Wells Fargo & Company cut its price target on Wynn Resorts from $79.00 to $77.00 and set an “equal weight” rating on the stock in a Thursday, Aug. 11 research note. Finally, Barclays raised its price target on Wynn Resorts to $71.00 in a Monday August 15 research note.

Wynn Resorts is trading up 2.3%

WYNN opened at $61.67 on Friday. The stock has a market capitalization of $7.01 billion, a PE ratio of -10.78 and a beta of 2.13. Wynn Resorts has a 1 year minimum of $50.20 and a 1 year maximum of $105.90. The stock’s 50-day simple moving average is $61.58 and its 200-day simple moving average is $67.42.

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Wynn Resorts (NASDAQ:WYNN – Get Rating) last announced its quarterly results on Tuesday, August 9. The casino operator reported ($0.82) earnings per share for the quarter, beating analyst consensus estimates of ($0.94) by $0.12. The company posted revenue of $908.83 million in the quarter, versus a consensus estimate of $980.84 million. In the same quarter last year, the company made ($1.12) earnings per share. The company’s revenue was down 8.2% year over year. Stock analysts expect Wynn Resorts to post -3.7 earnings per share for the current fiscal year.

Insiders place their bets

In other Wynn Resorts news, Manager Patricia Mulroy sold 2,000 shares of the company in a trade dated Monday, August 8. The shares were sold at an average price of $67.11, for a total value of $134,220.00. As a result of the transaction, the administrator now directly owns 8,781 shares of the company, valued at approximately $589,292.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this hyperlink. Insiders own 0.62% of the shares of the company.

Institutional entries and exits

A number of hedge funds and other institutional investors have recently changed their positions in WYNN. Suvretta Capital Management LLC bought a new position in Wynn Resorts stock in the first quarter worth $29,190,000. Natixis increased its stake in Wynn Resorts shares by 460.4% in the second quarter. Natixis now owns 419,070 shares in the casino operator worth $23,881,000 after acquiring 344,295 additional shares during the period. Bank of Montreal Can increased its stake in Wynn Resorts shares by 344.7% in the fourth quarter. Bank of Montreal Can now owns 415,496 shares of the casino operator worth $36,045,000 after acquiring an additional 322,073 shares during the period. Renaissance Technologies LLC increased its stake in Wynn Resorts shares to 6,658.6% in the second quarter. Renaissance Technologies LLC now owns 196,000 shares of the casino operator worth $11,168,000 after acquiring an additional 193,100 shares during the period. Finally, State Street Corp increased its stake in Wynn Resorts shares by 3.7% in the fourth quarter. State Street Corp now owns 4,110,591 shares of the casino operator worth $349,565,000 after acquiring an additional 146,960 shares during the period. Hedge funds and other institutional investors hold 64.69% of the company’s shares.

Wynn Resorts Company Profile

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Wynn Resorts, Limited designs, develops and operates integrated resorts. Its Wynn Palace segment operates 424,000 square feet of casino space with 323 table games, 1,035 slot machines, private gaming lounges and aerial casinos; a luxury hotel tower with 1,706 rooms, suites and villas, including a health club, spa, salon and swimming pool; 14 food and beverage outlets; 107,000 square feet of retail space; 37,000 square feet of meeting and convention space; and floral art and performance lake exhibits.

Further reading

Analyst Recommendations for Wynn Resorts (NASDAQ:WYNN)

This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to contact@marketbeat.com.

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