Wynn Resorts (NASDAQ:WYNN) Rating Increased to Hold at Zacks Research

Wynn Resorts (NASDAQ:WYNN) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

WYNN has been the topic of several other reports. Citigroup reaffirmed a “buy” rating on shares of Wynn Resorts in a research report on Thursday, August 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Wynn Resorts in a research report on Wednesday, June 24th. Susquehanna lowered their price objective on shares of Wynn Resorts from $133.00 to $127.00 and set a “positive” rating on the stock in a research note on Thursday, April 16th. Wells Fargo & Company dropped their target price on shares of Wynn Resorts from $141.00 to $131.00 and set an “overweight” rating on the stock in a report on Wednesday, August 5th. Finally, Argus raised their target price on shares of Wynn Resorts from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $134.19.

Wynn Resorts Stock Up 2.2%

WYNN stock opened at $104.79 on Monday. The company has a market cap of $10.79 billion, a price-to-earnings ratio of 26.00, a P/E/G ratio of 1.00 and a beta of 1.01. Wynn Resorts has a twelve month low of $92.52 and a twelve month high of $134.72. The business has a 50 day moving average price of $100.45 and a two-hundred day moving average price of $103.53.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Tuesday, August 4th. The casino operator reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.25. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations 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 business posted $1.09 EPS. On average, equities research analysts anticipate that Wynn Resorts will post 4.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Wynn Resorts

Several large investors have recently modified their holdings of WYNN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Wynn Resorts by 10.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,961 shares of the casino operator’s stock worth $665,000 after buying an additional 754 shares during the period. Woodline Partners LP raised its holdings in Wynn Resorts by 36.2% in the 1st quarter. Woodline Partners LP now owns 7,568 shares of the casino operator’s stock valued at $632,000 after acquiring an additional 2,012 shares during the period. Geneos Wealth Management Inc. lifted its position in Wynn Resorts by 69.0% during the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after acquiring an additional 156 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in 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 worth $155,000 after acquiring an additional 201 shares during the last quarter. Finally, Guggenheim Capital LLC boosted 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 worth $937,000 after acquiring an additional 868 shares during the period. 88.64% of the stock is owned by institutional investors.

Wynn Resorts News Roundup

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

• Positive Sentiment: Macau-led earnings beat: Wynn’s second-quarter results exceeded expectations, with revenue up year over year and EPS ahead of consensus. The improvement was primarily attributed to strength in Macau, supporting the outlook for the company’s core Asian operations. WYNN’s Q2 Beat Puts Macau Strength and Margin Pressure in Focus
• Positive Sentiment: UAE resort construction progress: Wynn Al Marjan Island completed a 550-meter beachfront, sheltered lagoon and reef ahead of its planned opening. The project also continues to generate hospitality hiring and tourism interest in Ras Al Khaimah, potentially expanding Wynn’s long-term growth beyond Macau and Las Vegas. Wynn Al Marjan Island Completes Shoreline, Sheltered Lagoon, and Reef
• Positive Sentiment: Potential asset monetization: Wynn reportedly sold the Villa Lulu property, which could provide cash proceeds and reduce exposure to a non-core real-estate asset. Financial terms were not provided. Wynn Sells Villa Lulu

Wynn Resorts Company Profile

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.