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

ValuEngine upgraded shares of Wynn Resorts (NASDAQ:WYNN) from a sell rating to a hold rating in a report published on Tuesday morning, ValuEngine reports.

Several other brokerages also recently commented on WYNN. Goldman Sachs Group set a €11.00 ($12.79) target price on Suedzucker and gave the company a neutral rating in a research note on Wednesday, April 10th. Stifel Nicolaus set a $74.00 target price on InterXion and gave the company a buy rating in a research note on Friday, May 10th. Telsey Advisory Group restated a market perform rating and issued a $120.00 target price (down from $125.00) on shares of Wynn Resorts in a research note on Friday, May 10th. Jefferies Financial Group raised their target price on Las Vegas Sands from $57.00 to $69.00 and gave the company a hold rating in a research note on Monday, April 8th. Finally, BidaskClub upgraded Zynerba Pharmaceuticals from a hold rating to a buy rating in a research note on Thursday, July 4th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Wynn Resorts presently has a consensus rating of Buy and a consensus target price of $147.44.

Shares of WYNN opened at $133.89 on Tuesday. The company has a debt-to-equity ratio of 4.84, a quick ratio of 1.16 and a current ratio of 1.19. The company has a 50-day moving average price of $119.97. The firm has a market cap of $14.41 billion, a P/E ratio of 20.47, a PEG ratio of 2.13 and a beta of 1.93. Wynn Resorts has a one year low of $90.06 and a one year high of $167.59.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Thursday, May 9th. The casino operator reported $1.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.02. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.66 billion. Wynn Resorts had a return on equity of 35.83% and a net margin of 13.43%. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period last year, the business posted $2.30 EPS. Equities research analysts predict that Wynn Resorts will post 6.12 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Egerton Capital UK LLP lifted its position in Wynn Resorts by 201.7% in the 1st quarter. Egerton Capital UK LLP now owns 2,303,387 shares of the casino operator’s stock valued at $274,840,000 after acquiring an additional 1,539,927 shares in the last quarter. Geode Capital Management LLC lifted its position in Wynn Resorts by 7.7% in the 4th quarter. Geode Capital Management LLC now owns 1,286,319 shares of the casino operator’s stock valued at $127,010,000 after acquiring an additional 91,738 shares in the last quarter. FMR LLC lifted its position in Wynn Resorts by 75.3% in the 1st quarter. FMR LLC now owns 1,235,412 shares of the casino operator’s stock valued at $147,409,000 after acquiring an additional 530,731 shares in the last quarter. Northern Trust Corp lifted its position in Wynn Resorts by 0.4% in the 1st quarter. Northern Trust Corp now owns 1,078,283 shares of the casino operator’s stock valued at $128,661,000 after acquiring an additional 4,247 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Wynn Resorts by 24.9% in the 4th quarter. Bank of New York Mellon Corp now owns 1,029,585 shares of the casino operator’s stock valued at $101,837,000 after acquiring an additional 205,157 shares in the last quarter. 77.49% of the stock is currently owned by institutional investors and hedge funds.

About Wynn Resorts

Wynn Resorts, Limited owns and operates destination casino resorts. As of February 20, 2019, the company's Wynn Palace segment had approximately 424,000 square feet of casino space, which offered 320 table games and 1,041 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas; 13 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities comprising a gondola ride, health club, spa, salon, and pool; and public attractions, such as performance lake and floral art displays.

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Analyst Recommendations for Wynn Resorts (NASDAQ:WYNN)

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