Wynn Resorts (NASDAQ:WYNN) Given New $140.00 Price Target at Bank of America

Wynn Resorts (NASDAQ:WYNN) had its price target dropped by research analysts at Bank of America from $150.00 to $140.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the casino operator’s stock. Bank of America‘s target price points to a potential upside of 36.69% from the company’s current price.

Several other equities research analysts have also recently commented on WYNN. Stifel Nicolaus decreased their target price on Wynn Resorts from $160.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Mizuho raised their target price on Wynn Resorts from $131.00 to $134.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Morgan Stanley decreased their target price on Wynn Resorts from $139.00 to $136.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. JPMorgan Chase & Co. decreased their target price on Wynn Resorts from $140.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Wells Fargo & Company set a $142.00 target price on Wynn Resorts and gave the stock an “overweight” rating in a research note on Sunday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Wynn Resorts currently has a consensus rating of “Moderate Buy” and an average target price of $140.27.

Wynn Resorts Price Performance

Shares of WYNN opened at $102.42 on Monday. Wynn Resorts has a 1 year low of $82.63 and a 1 year high of $134.72. The company has a market capitalization of $10.66 billion, a price-to-earnings ratio of 30.57, a price-to-earnings-growth ratio of 5.71 and a beta of 1.01. The business has a 50-day moving average of $103.76 and a 200-day moving average of $114.38.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Thursday, May 7th. The casino operator reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period last year, the company earned $1.07 earnings per share. The firm’s revenue was up 9.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Wynn Resorts will post 4.9 EPS for the current year.

Institutional Investors Weigh In On Wynn Resorts

A number of hedge funds have recently added to or reduced their stakes in WYNN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Wynn Resorts by 10.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,961 shares of the casino operator’s stock valued at $665,000 after acquiring an additional 754 shares during the period. Woodline Partners LP grew its stake in Wynn Resorts by 36.2% in the first 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. grew its stake in Wynn Resorts by 69.0% in the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock valued at $32,000 after acquiring an additional 156 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Wynn Resorts by 13.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,659 shares of the casino operator’s stock valued at $155,000 after acquiring an additional 201 shares during the period. Finally, Guggenheim Capital LLC boosted its position 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. Institutional investors and hedge funds own 88.64% of the company’s stock.

About Wynn Resorts

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.