UBS Group Issues Pessimistic Forecast for Wynn Resorts (NASDAQ:WYNN) Stock Price

Wynn Resorts (NASDAQ:WYNN) had its target price lowered by analysts at UBS Group from $145.00 to $138.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the casino operator’s stock. UBS Group’s target price indicates a potential upside of 57.89% from the company’s current price.

Several other brokerages have also recently weighed in on WYNN. Morgan Stanley reaffirmed an “overweight” rating and issued a $128.00 price target on shares of Wynn Resorts in a research note on Wednesday, July 22nd. Stifel Nicolaus set a $143.00 target price on shares of Wynn Resorts in a report on Wednesday, August 5th. The Goldman Sachs Group set a $120.00 target price on shares of Wynn Resorts in a research report on Wednesday, July 15th. Citigroup reiterated a “buy” rating on shares of Wynn Resorts in a research note on Thursday, August 6th. Finally, Mizuho lowered their price target on shares of Wynn Resorts from $133.00 to $125.00 and set an “outperform” rating for the company in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $133.35.

Wynn Resorts Trading Down 1.2%

Wynn Resorts stock traded down $1.02 during trading hours on Friday, hitting $87.40. 198,001 shares of the stock traded hands, compared to its average volume of 1,564,761. Wynn Resorts has a one year low of $87.39 and a one year high of $134.72. The firm’s 50-day moving average price is $97.38 and its two-hundred day moving average price is $100.86. The company has a market cap of $9.00 billion, a PE ratio of 21.69, a PEG ratio of 1.09 and a beta of 1.00.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Tuesday, August 4th. The casino operator reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.25. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.83 billion. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%.The business’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.09 EPS. On average, sell-side analysts expect that Wynn Resorts will post 4.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wynn Resorts

Hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Wynn Resorts by 10.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,961 shares of the casino operator’s stock worth $665,000 after purchasing an additional 754 shares in the last quarter. Woodline Partners LP lifted its stake in shares of Wynn Resorts by 36.2% in the first quarter. Woodline Partners LP now owns 7,568 shares of the casino operator’s stock worth $632,000 after buying an additional 2,012 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Wynn Resorts by 69.0% in the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after buying an additional 156 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Wynn Resorts by 13.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,659 shares of the casino operator’s stock valued at $155,000 after buying an additional 201 shares during the last quarter. Finally, Guggenheim Capital LLC grew its holdings in shares of Wynn Resorts by 9.5% during the second quarter. Guggenheim Capital LLC now owns 10,008 shares of the casino operator’s stock valued at $937,000 after buying an additional 868 shares during the last quarter. 88.64% of the stock is owned by institutional investors.

Wynn Resorts News Summary

Here are the key news stories impacting Wynn Resorts this week:

• Positive Sentiment: Wynn Resorts completed pricing of a $900 million private offering of 6.875% senior notes due 2035. Extending debt maturities may improve the company’s liquidity profile and reduce near-term refinancing pressure. Wynn Resorts Announces Pricing of Private Offering
• Neutral Sentiment: The new notes carry a relatively high 6.875% coupon, increasing interest costs, although the proceeds are intended to support debt-management efforts. Fitch described Wynn’s credit improvement as “slow,” signaling that refinancing reduces immediate maturity risk but does not resolve leverage concerns. Wynn Resorts to Issue Senior Notes
• Negative Sentiment: Wynn Resorts shares recently reached a 52-week low of $89.28 and underperformed industry peers, reflecting persistent investor concerns about valuation, casino demand and the company’s balance sheet. Wynn Resorts Stock Hits 52-Week Low
• Negative Sentiment: Two former Wynn Las Vegas employees reportedly allege they were fired because of union activity. Although the claims have not been established in court, they create potential legal, labor-relations and reputational risks. Former Wynn Las Vegas Employees Allege Firings

About Wynn Resorts

Wynn Resorts, Ltd. is a global luxury hospitality and entertainment company that develops and operates integrated resorts. Its properties combine casino gaming with hotel accommodations, fine dining, retail shopping, nightlife, entertainment, spas and meeting facilities.

The company operates Wynn Las Vegas and Encore Las Vegas in Nevada, Encore Boston Harbor in Massachusetts, and Wynn Macau and Encore Macau in Macau. These properties serve leisure and business travelers, gaming customers and convention guests across the United States and Asia.

Founded in 2002 by casino executive Steve Wynn, Wynn Resorts has expanded its portfolio through destination resorts focused on premium service and design.