Wynn Resorts (NASDAQ:WYNN) Coverage Initiated at Wolfe Research

Investment analysts at Wolfe Research began coverage on shares of Wynn Resorts (NASDAQ:WYNN) in a research note issued on Wednesday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $128.00 price target on the casino operator’s stock. Wolfe Research’s price target would suggest a potential upside of 39.86% from the company’s previous close.

Several other research analysts have also recently commented on the company. Zacks Research raised Wynn Resorts from a “strong sell” rating to a “hold” rating in a research report on Monday, August 10th. The Goldman Sachs Group set a $120.00 price objective on shares of Wynn Resorts in a research note on Wednesday, July 15th. Bank of America lowered their target price on shares of Wynn Resorts from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Truist Financial started coverage on shares of Wynn Resorts in a research note on Wednesday, July 8th. They set a “buy” rating and a $125.00 price target for the company. Finally, Wells Fargo & Company decreased their price objective on Wynn Resorts from $141.00 to $131.00 and set an “overweight” rating on the stock in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.82.

Wynn Resorts Stock Up 1.0%

Shares of WYNN opened at $91.52 on Wednesday. Wynn Resorts has a 12-month low of $89.44 and a 12-month high of $134.72. The firm has a market capitalization of $9.42 billion, a price-to-earnings ratio of 22.71, a P/E/G ratio of 1.09 and a beta of 1.00. The stock’s 50-day moving average price is $98.24 and its 200 day moving average price is $101.86.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Tuesday, August 4th. The casino operator reported $1.24 EPS for the quarter, beating the consensus estimate of $0.99 by $0.25. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%.The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter in the prior year, the firm posted $1.09 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities research analysts expect that Wynn Resorts will post 4.55 EPS for the current year.

Hedge Funds Weigh In On Wynn Resorts

Institutional investors and hedge funds have recently bought and sold shares of the business. MUFG Securities EMEA plc acquired a new stake in shares of Wynn Resorts in the second quarter valued at $25,000. Hantz Financial Services Inc. raised its stake in shares of Wynn Resorts by 54.9% in the fourth quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock worth $30,000 after acquiring an additional 89 shares during the last quarter. SHP Wealth Management bought a new stake in shares of Wynn Resorts during the fourth quarter valued at approximately $32,000. Geneos Wealth Management Inc. increased its holdings in shares of 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 purchasing an additional 156 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Wynn Resorts in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 88.64% of the company’s stock.

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.