Bank of America Reaffirms “Hold” Rating for Wynn Resorts (WYNN)

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Bank of America reissued their hold rating on shares of Wynn Resorts (NASDAQ:WYNN) in a report issued on Tuesday. They currently have a $125.00 price objective on the casino operator’s stock.

A number of other equities research analysts have also recently issued reports on the company. BidaskClub cut Wynn Resorts from a sell rating to a strong sell rating in a research report on Saturday, September 29th. ValuEngine cut Wynn Resorts from a sell rating to a strong sell rating in a research report on Friday, September 7th. Jefferies Financial Group cut Wynn Resorts from a buy rating to a hold rating and set a $170.00 target price for the company. in a research report on Tuesday, August 14th. Credit Suisse Group assumed coverage on Wynn Resorts in a research report on Tuesday, August 14th. They set a neutral rating and a $155.00 target price for the company. Finally, Argus cut Wynn Resorts from a buy rating to a hold rating and set a $135.00 target price for the company. in a research report on Tuesday, August 7th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $187.00.

Shares of NASDAQ WYNN opened at $110.20 on Tuesday. The company has a market capitalization of $12.37 billion, a P/E ratio of 16.87, a PEG ratio of 0.77 and a beta of 1.41. Wynn Resorts has a 52 week low of $109.90 and a 52 week high of $203.63. The company has a debt-to-equity ratio of 4.47, a current ratio of 1.08 and a quick ratio of 1.04.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Wednesday, August 1st. The casino operator reported $1.53 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.96 by ($0.43). The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.72 billion. Wynn Resorts had a net margin of 7.90% and a return on equity of 69.17%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.18 EPS. As a group, equities analysts forecast that Wynn Resorts will post 7.35 earnings per share for the current year.

Several hedge funds have recently modified their holdings of WYNN. Dimensional Fund Advisors LP lifted its holdings in shares of Wynn Resorts by 2.2% during the first quarter. Dimensional Fund Advisors LP now owns 328,072 shares of the casino operator’s stock worth $59,827,000 after buying an additional 7,003 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of Wynn Resorts by 11.8% during the first quarter. Allianz Asset Management GmbH now owns 57,917 shares of the casino operator’s stock worth $10,561,000 after buying an additional 6,103 shares during the last quarter. United Capital Financial Advisers LLC acquired a new position in shares of Wynn Resorts during the first quarter worth approximately $263,000. Element Capital Management LLC acquired a new position in shares of Wynn Resorts during the first quarter worth approximately $250,000. Finally, Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Wynn Resorts by 23.5% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 26,814 shares of the casino operator’s stock worth $4,889,000 after buying an additional 5,095 shares during the last quarter. Institutional investors own 75.36% of the company’s stock.

Wynn Resorts Company Profile

Wynn Resorts, Limited develops, owns, and operates destination casino resorts. As of February 15, 2018, the company's Wynn Macau segment had approximately 273,000 square feet of casino space, which offered 316 table games and 988 slot machines, private gaming salons, sky casinos, and a poker pit; 2 luxury hotel towers with a total of 1,008 guest rooms and suites; 8 food and beverage outlets; 59,000 square feet of retail space; 31,000 square feet of meeting and convention space; recreation and leisure facilities comprising 2 health clubs, spas, a salon, and a pool; and a rotunda show, a Chinese zodiac-inspired ceiling.

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Analyst Recommendations for Wynn Resorts (NASDAQ:WYNN)

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