Wynn Resorts (NASDAQ:WYNN) Earns Outperform Rating from Macquarie

Wynn Resorts (NASDAQ:WYNN)‘s stock had its “outperform” rating reiterated by investment analysts at Macquarie in a report released on Monday,Benzinga reports. They currently have a $143.00 target price on the casino operator’s stock. Macquarie’s price objective points to a potential upside of 11.38% from the stock’s current price.

Several other equities analysts have also recently commented on WYNN. Jefferies Financial Group reaffirmed a “buy” rating and set a $155.00 price target on shares of Wynn Resorts in a research report on Monday. Zacks Research downgraded Wynn Resorts from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Argus upgraded Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research report on Wednesday, September 3rd. The Goldman Sachs Group set a $145.00 price target on Wynn Resorts in a research report on Monday, December 1st. Finally, Mizuho lifted their price objective on shares of Wynn Resorts from $126.00 to $131.00 and gave the stock an “outperform” rating in a report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $139.15.

Wynn Resorts Stock Performance

Shares of WYNN stock traded up $2.89 during mid-day trading on Monday, reaching $128.40. 753,839 shares of the company were exchanged, compared to its average volume of 2,231,196. The business’s 50 day simple moving average is $123.74 and its 200 day simple moving average is $112.90. The company has a market capitalization of $13.35 billion, a P/E ratio of 28.71, a P/E/G ratio of 8.61 and a beta of 1.10. Wynn Resorts has a fifty-two week low of $65.25 and a fifty-two week high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Thursday, November 6th. The casino operator reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.23). The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.76 billion. Wynn Resorts had a net margin of 7.09% and a negative return on equity of 54.88%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.90 earnings per share. On average, analysts forecast that Wynn Resorts will post 5.17 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dagco Inc. bought a new stake in shares of Wynn Resorts in the 1st quarter worth $25,000. AlphaQuest LLC acquired a new position in Wynn Resorts during the first quarter worth about $25,000. MUFG Securities EMEA plc bought a new stake in Wynn Resorts in the second quarter worth about $25,000. Root Financial Partners LLC acquired a new stake in Wynn Resorts in the 3rd quarter valued at about $26,000. Finally, Manchester Capital Management LLC boosted its position in shares of Wynn Resorts by 1,500.0% during the 2nd quarter. Manchester Capital Management LLC now owns 320 shares of the casino operator’s stock valued at $30,000 after purchasing an additional 300 shares in the last quarter. 88.64% of the stock is owned by institutional investors and hedge funds.

About Wynn Resorts

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.