Wynn Resorts (NASDAQ:WYNN) Upgraded by Wells Fargo & Company to Strong-Buy Rating

Wynn Resorts (NASDAQ:WYNN) was upgraded by research analysts at Wells Fargo & Company to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

WYNN has been the subject of a number of other research reports. Argus upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a report on Wednesday, September 3rd. Mizuho lifted their price objective on Wynn Resorts from $126.00 to $131.00 and gave the stock an “outperform” rating in a research report on Thursday, November 13th. JPMorgan Chase & Co. boosted their price objective on Wynn Resorts from $136.00 to $138.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. UBS Group raised Wynn Resorts from a “neutral” rating to a “buy” rating and raised their target price for the stock from $101.00 to $147.00 in a research note on Thursday, August 28th. Finally, Barclays lifted their price target on Wynn Resorts from $127.00 to $141.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $134.38.

Wynn Resorts Stock Performance

Shares of WYNN stock opened at $118.32 on Monday. Wynn Resorts has a fifty-two week low of $65.25 and a fifty-two week high of $134.23. The stock’s fifty day moving average is $123.36 and its two-hundred day moving average is $109.79. The firm has a market capitalization of $12.30 billion, a P/E ratio of 35.53, a PEG ratio of 4.94 and a beta of 1.32.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results 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 business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.76 billion. Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. Wynn Resorts’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the company earned $0.90 earnings per share. On average, equities analysts forecast that Wynn Resorts will post 5.17 earnings per share for the current year.

Insider Buying and Selling at Wynn Resorts

In related news, Director Patricia Mulroy sold 4,438 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total transaction of $554,750.00. Following the completion of the sale, the director directly owned 3,066 shares of the company’s stock, valued at approximately $383,250. This trade represents a 59.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new stake in Wynn Resorts in the second quarter valued at approximately $106,289,000. Palidye Holdings Caymans Ltd purchased a new position in shares of Wynn Resorts during the second quarter worth $104,629,000. Zurich Insurance Group Ltd FI acquired a new stake in shares of Wynn Resorts in the third quarter valued at $110,213,000. Thrivent Financial for Lutherans raised its holdings in shares of Wynn Resorts by 6,391.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 748,769 shares of the casino operator’s stock valued at $70,138,000 after buying an additional 737,234 shares during the period. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of Wynn Resorts in the 3rd quarter valued at $73,588,000. Hedge funds and other institutional investors own 88.64% of the company’s stock.

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.