Morgan Stanley reissued their equal weight rating on shares of Wynn Resorts (NASDAQ:WYNN) in a research report sent to investors on Wednesday morning, StockRatingsNetwork.com reports. The firm currently has a $167.00 price target on the stock, up from their previous price target of $140.00.
“We expect WYNN EBITDA to grow in the mid-single digits over the next few years, driven by strong market growth / maintained 10-11% share in Macau and a (slow but steady) Las Vegas recovery. Concerns around continued stagnation in Wynn Macau same-store results driven by capacity constraints are widely known and favorable supply/demand dynamics thru at least 1H15 limit downside. Wynn Cotai is a LT positive. Our $1.2B ’17 EBITDA estimate on a $4B project cost implies a 30% return. However, we currently reflect $42/share of equity value for Cotai, which is roughly in line with consensus. Undiscounted value = $56. Given its relatively clean B/S and development track record, WYNN should be a leading contender for future US and int’l developments. WYNN’s strong FCF should allow for growth in its regular div but annual special divs could be at risk given development pipeline. At 14.8x ’14e EBITDA, stock is trading above peers but Cotai more significant.,” the firm’s analyst wrote.
Morgan Stanley has also modified their ratings on a number of other consumer discretionary stocks in the few days. The firm reiterated its overweight rating on shares of Las Vegas Sands Corp.. They have a $76.00 price target on that stock, up previously from $65.00. Also, Morgan Stanley reiterated its equal weight rating on shares of MGM Resorts International. They have a $20.00 price target on that stock, up previously from $17.00. Finally, Morgan Stanley reiterated its overweight rating on shares of Boyd Gaming Corp.. They have a $17.00 price target on that stock, up previously from $16.00.
WYNN has been the subject of a number of other recent research reports. Analysts at Barclays reiterated an overweight rating on shares of Wynn Resorts in a research note to investors on Wednesday. They now have a $176.00 price target on the stock, up previously from $150.00. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Wynn Resorts from $155.00 to $183.00 in a research note to investors on Friday, October 11th. They now have an overweight rating on the stock. Finally, analysts at Credit Suisse downgraded shares of Wynn Resorts from an outperform rating to a neutral rating in a research note to investors on Friday, October 4th. They now have a $160.00 price target on the stock, up previously from $149.00. They noted that the move was a valuation call. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $149.89.
Shares of Wynn Resorts (NASDAQ:WYNN) traded up 0.41% during mid-day trading on Wednesday, hitting $170.15. The stock had a trading volume of 468,004 shares. Wynn Resorts has a one year low of $103.34 and a one year high of $170.79. The stock’s 50-day moving average is $154.9 and its 200-day moving average is $139.1. The company has a market cap of $17.097 billion and a P/E ratio of 30.81.
Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Monday, July 29th. The company reported $1.51 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.57 by $0.06. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the company posted $1.38 earnings per share. Wynn Resorts’s revenue was up 6.3% compared to the same quarter last year. Analysts expect that Wynn Resorts will post $6.78 EPS for the current fiscal year.
Wynn Resorts, Limited is a developer, owner and operator of destination casino resorts. The Company owns and operates two destination casino resorts.
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