Wynn Resorts (NASDAQ:WYNN) Rating Increased to Buy at Argus

Wynn Resorts (NASDAQ:WYNN) was upgraded by analysts at Argus from a “hold” rating to a “buy” rating in a research report issued on Thursday, MarketBeat.com reports. The firm presently has a $110.00 price objective on the casino operator’s stock. Argus’ price target points to a potential upside of 16.25% from the company’s previous close.

A number of other brokerages have also issued reports on WYNN. Susquehanna upped their target price on shares of Wynn Resorts from $105.00 to $115.00 and gave the company a “positive” rating in a research note on Thursday, February 8th. StockNews.com raised Wynn Resorts from a “hold” rating to a “buy” rating in a report on Friday, May 17th. Stifel Nicolaus raised their price objective on Wynn Resorts from $135.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Macquarie boosted their target price on shares of Wynn Resorts from $122.00 to $128.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. Finally, Citigroup lifted their price target on shares of Wynn Resorts from $132.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $120.79.

Wynn Resorts Trading Up 0.6 %

WYNN stock opened at $94.62 on Thursday. The firm has a 50 day moving average of $99.13 and a 200-day moving average of $95.93. The company has a market cap of $10.60 billion, a price-to-earnings ratio of 12.96 and a beta of 1.91. Wynn Resorts has a 12-month low of $81.65 and a 12-month high of $112.25.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Tuesday, May 7th. The casino operator reported $1.59 EPS for the quarter, topping the consensus estimate of $1.43 by $0.16. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.80 billion. Wynn Resorts had a net margin of 12.36% and a negative return on equity of 46.04%. Wynn Resorts’s revenue for the quarter was up 30.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.29 earnings per share. Sell-side analysts forecast that Wynn Resorts will post 5.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wynn Resorts

Large investors have recently added to or reduced their stakes in the stock. Cetera Advisors LLC increased its stake in shares of Wynn Resorts by 9.4% in the 1st quarter. Cetera Advisors LLC now owns 9,870 shares of the casino operator’s stock valued at $1,009,000 after purchasing an additional 850 shares during the last quarter. Cetera Investment Advisers increased its position in Wynn Resorts by 326.5% during the 1st quarter. Cetera Investment Advisers now owns 25,980 shares of the casino operator’s stock valued at $2,656,000 after purchasing an additional 19,889 shares during the period. Virtu Financial LLC bought a new position in Wynn Resorts during the 1st quarter worth approximately $1,248,000. Comerica Bank boosted its stake in shares of Wynn Resorts by 56.0% in the 1st quarter. Comerica Bank now owns 25,881 shares of the casino operator’s stock valued at $2,646,000 after purchasing an additional 9,295 shares during the last quarter. Finally, Tidal Investments LLC increased its position in shares of Wynn Resorts by 157.7% during the first quarter. Tidal Investments LLC now owns 9,186 shares of the casino operator’s stock worth $939,000 after buying an additional 5,621 shares during the period. Institutional investors and hedge funds own 68.87% 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.