Wynn Resorts (NASDAQ:WYNN) Stock Price Expected to Rise, Barclays Analyst Says

Wynn Resorts (NASDAQ:WYNN) had its price target hoisted by equities researchers at Barclays from $127.00 to $141.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the casino operator’s stock. Barclays‘s target price indicates a potential upside of 12.99% from the company’s previous close.

Other research analysts have also issued research reports about the company. Argus upgraded Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a report on Wednesday, September 3rd. Jefferies Financial Group lifted their price objective on Wynn Resorts from $130.00 to $133.00 and gave the company a “buy” rating in a research note on Monday, August 11th. JPMorgan Chase & Co. increased their target price on Wynn Resorts from $123.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Stifel Nicolaus boosted their price objective on Wynn Resorts from $130.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, September 18th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Wynn Resorts in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Wynn Resorts has an average rating of “Moderate Buy” and a consensus price target of $132.42.

Wynn Resorts Trading Up 1.8%

NASDAQ:WYNN traded up $2.26 during trading hours on Friday, hitting $124.80. 1,337,606 shares of the company were exchanged, compared to its average volume of 2,282,217. The company has a fifty day simple moving average of $123.54 and a 200 day simple moving average of $106.91. Wynn Resorts has a one year low of $65.25 and a one year high of $134.23. The stock has a market capitalization of $12.98 billion, a price-to-earnings ratio of 37.44, a price-to-earnings-growth ratio of 4.94 and a beta of 1.32.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Thursday, November 6th. The casino operator reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.23). The firm had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.76 billion. Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. Wynn Resorts’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.90 EPS. Equities research analysts predict that Wynn Resorts will post 5.17 earnings per share for the current fiscal year.

Insider Transactions at Wynn Resorts

In related news, Director Patricia Mulroy sold 4,438 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total value of $554,750.00. Following the transaction, the director directly owned 3,066 shares of the company’s stock, valued at approximately $383,250. The trade was a 59.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Wynn Resorts

Several large investors have recently made changes to their positions in WYNN. NEOS Investment Management LLC purchased a new position in shares of Wynn Resorts during the third quarter valued at $217,000. Texas Yale Capital Corp. bought a new position in Wynn Resorts during the 3rd quarter worth about $257,000. Fifth Third Bancorp increased its position in Wynn Resorts by 7.7% during the 3rd quarter. Fifth Third Bancorp now owns 2,447 shares of the casino operator’s stock valued at $314,000 after purchasing an additional 176 shares during the period. Cookson Peirce & Co. Inc. raised its holdings in shares of Wynn Resorts by 1.6% in the 3rd quarter. Cookson Peirce & Co. Inc. now owns 55,197 shares of the casino operator’s stock valued at $7,080,000 after purchasing an additional 857 shares in the last quarter. Finally, Illinois Municipal Retirement Fund bought a new position in shares of Wynn Resorts during the third quarter valued at approximately $894,000. 88.64% of the stock is owned by institutional investors.

About Wynn Resorts

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.