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

Wynn Resorts (NASDAQ:WYNN) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

A number of other analysts also recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Wynn Resorts from $135.00 to $134.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $137.00 price target on shares of Wynn Resorts in a research report on Friday, May 8th. Barclays boosted their price target on Wynn Resorts from $134.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Mizuho reduced their price target on Wynn Resorts from $133.00 to $125.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 28th. Finally, Stifel Nicolaus set a $143.00 price objective on Wynn Resorts in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $134.19.

Wynn Resorts Stock Performance

WYNN opened at $104.79 on Monday. The stock has a fifty day moving average of $100.45 and a 200-day moving average of $103.53. The company has a market capitalization of $10.79 billion, a P/E ratio of 26.00, a P/E/G ratio of 1.00 and a beta of 1.01. Wynn Resorts has a fifty-two week low of $92.52 and a fifty-two week high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last released 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 net margin of 6.05% and a negative return on equity of 46.52%. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the prior year, the company posted $1.09 earnings per share. Wynn Resorts’s revenue was up 6.9% compared to the same quarter last year. On average, equities research analysts predict that Wynn Resorts will post 4.54 earnings per share for the current fiscal year.

Institutional Trading of Wynn Resorts

Large investors have recently made changes to their positions in the company. Callan Family Office LLC bought a new position in Wynn Resorts in the second quarter valued at approximately $402,000. Allworth Financial LP bought a new stake in Wynn Resorts during the second quarter worth $108,000. Mystic Asset Management Inc. acquired a new stake in shares of Wynn Resorts in the 2nd quarter valued at $1,207,000. Vise Technologies Inc. acquired a new stake in shares of Wynn Resorts in the 2nd quarter valued at $274,000. Finally, Wealthfront Advisers LLC bought a new position in shares of Wynn Resorts in the 2nd quarter valued at $225,000. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts News Summary

Here are the key news stories impacting Wynn Resorts this week:

• Positive Sentiment: Macau-led earnings beat: Wynn’s second-quarter results exceeded expectations, with revenue up year over year and EPS ahead of consensus. The improvement was primarily attributed to strength in Macau, supporting the outlook for the company’s core Asian operations. WYNN’s Q2 Beat Puts Macau Strength and Margin Pressure in Focus
• Positive Sentiment: UAE resort construction progress: Wynn Al Marjan Island completed a 550-meter beachfront, sheltered lagoon and reef ahead of its planned opening. The project also continues to generate hospitality hiring and tourism interest in Ras Al Khaimah, potentially expanding Wynn’s long-term growth beyond Macau and Las Vegas. Wynn Al Marjan Island Completes Shoreline, Sheltered Lagoon, and Reef
• Positive Sentiment: Potential asset monetization: Wynn reportedly sold the Villa Lulu property, which could provide cash proceeds and reduce exposure to a non-core real-estate asset. Financial terms were not provided. Wynn Sells Villa Lulu

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.