Wynn Resorts (NASDAQ:WYNN) Price Target Lowered to $150.00 at Jefferies Financial Group

Wynn Resorts (NASDAQ:WYNN) had its price objective dropped by Jefferies Financial Group from $161.00 to $150.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the casino operator’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 47.10% from the company’s current price.

WYNN has been the subject of several other research reports. Barclays increased their price target on shares of Wynn Resorts from $141.00 to $143.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. Stifel Nicolaus lowered their price objective on shares of Wynn Resorts from $160.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Susquehanna reissued a “positive” rating and issued a $133.00 target price on shares of Wynn Resorts in a research note on Thursday, February 12th. Weiss Ratings restated a “hold (c+)” rating on shares of Wynn Resorts in a report on Monday, December 29th. Finally, UBS Group reiterated a “buy” rating on shares of Wynn Resorts in a report on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $138.53.

Wynn Resorts Stock Performance

WYNN stock traded down $0.06 during trading on Monday, hitting $101.97. 305,615 shares of the company traded hands, compared to its average volume of 1,663,369. The company has a 50-day moving average of $106.87 and a 200-day moving average of $117.26. Wynn Resorts has a 1 year low of $65.25 and a 1 year high of $134.72. The firm has a market capitalization of $10.61 billion, a PE ratio of 33.99, a P/E/G ratio of 8.67 and a beta of 1.04.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, February 12th. The casino operator reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.16). Wynn Resorts had a net margin of 4.59% and a negative return on equity of 39.05%. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the previous year, the firm posted $2.42 EPS. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. Sell-side analysts expect that Wynn Resorts will post 5.17 EPS for the current year.

Institutional Trading of Wynn Resorts

Several institutional investors and hedge funds have recently bought and sold shares of WYNN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Wynn Resorts by 10.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,961 shares of the casino operator’s stock worth $665,000 after acquiring an additional 754 shares during the period. Woodline Partners LP lifted its stake in shares of Wynn Resorts by 36.2% in the 1st quarter. Woodline Partners LP now owns 7,568 shares of the casino operator’s stock valued at $632,000 after purchasing an additional 2,012 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of Wynn Resorts by 69.0% during 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. Northwestern Mutual Wealth Management Co. grew its stake in Wynn Resorts by 13.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,659 shares of the casino operator’s stock worth $155,000 after purchasing an additional 201 shares during the period. Finally, 1832 Asset Management L.P. bought a new position in Wynn Resorts in the second quarter worth $889,000. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

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.