Wynn Resorts (NASDAQ:WYNN) Earns Equal Weight Rating from Analysts at Morgan Stanley

Morgan Stanley assumed coverage on shares of Wynn Resorts (NASDAQ:WYNNGet Rating) in a report issued on Monday morning, MarketBeat Ratings reports. The brokerage issued an equal weight rating and a $77.00 target price on the casino operator’s stock.

Other research analysts also recently issued reports about the company. Barclays upped their price target on Wynn Resorts to $75.00 in a report on Tuesday, November 15th. Citigroup upped their price objective on Wynn Resorts from $87.50 to $91.00 and gave the company a buy rating in a research report on Monday, September 26th. Credit Suisse Group upgraded Wynn Resorts from a neutral rating to an outperform rating and set a $117.00 price objective for the company in a research report on Thursday, September 15th. Jefferies Financial Group upgraded Wynn Resorts from a hold rating to a buy rating in a research report on Monday, September 26th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Wynn Resorts from $92.00 to $85.00 and set a buy rating for the company in a research report on Wednesday, August 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $95.69.

Wynn Resorts Price Performance

Shares of NASDAQ:WYNN opened at $75.36 on Monday. The company has a market cap of $8.54 billion, a P/E ratio of -13.60 and a beta of 1.91. Wynn Resorts has a 1 year low of $50.20 and a 1 year high of $96.50. The stock’s fifty day moving average price is $66.30 and its 200-day moving average price is $63.17.

Wynn Resorts (NASDAQ:WYNNGet Rating) last announced its quarterly earnings results on Wednesday, November 9th. The casino operator reported ($1.20) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($1.20). The business had revenue of $889.70 million for the quarter, compared to the consensus estimate of $867.42 million. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.24) earnings per share. On average, sell-side analysts anticipate that Wynn Resorts will post -4.41 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Patricia Mulroy sold 2,000 shares of the stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $66.14, for a total transaction of $132,280.00. Following the completion of the sale, the director now owns 6,781 shares in the company, valued at $448,495.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.62% of the company’s stock.

Institutional Trading of Wynn Resorts

Several institutional investors have recently made changes to their positions in the business. Toroso Investments LLC grew its position in shares of Wynn Resorts by 12.4% during the third quarter. Toroso Investments LLC now owns 4,733 shares of the casino operator’s stock worth $298,000 after purchasing an additional 522 shares in the last quarter. IHT Wealth Management LLC purchased a new stake in shares of Wynn Resorts during the third quarter worth about $261,000. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Wynn Resorts during the third quarter worth about $592,000. M&T Bank Corp boosted its stake in Wynn Resorts by 5.0% during the third quarter. M&T Bank Corp now owns 4,084 shares of the casino operator’s stock valued at $258,000 after buying an additional 196 shares during the last quarter. Finally, Captrust Financial Advisors boosted its stake in Wynn Resorts by 3.6% during the third quarter. Captrust Financial Advisors now owns 4,240 shares of the casino operator’s stock valued at $267,000 after buying an additional 147 shares during the last quarter. Hedge funds and other institutional investors own 64.69% of the company’s stock.

About Wynn Resorts

(Get Rating)

Wynn Resorts, Limited designs, develops, and operates integrated resorts. Its Wynn Palace segment operates 424,000 square feet of casino space with 323 table games, 1,035 slot machines, private gaming salons, and sky casinos; a luxury hotel tower with 1,706 guest rooms, suites, and villas, including a health club, spa, salon, and pool; 14 food and beverage outlets; 107,000 square feet of retail space; 37,000 square feet of meeting and convention space; and performance lake and floral art displays.

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Analyst Recommendations for Wynn Resorts (NASDAQ:WYNN)

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