Wynn Resorts (NASDAQ:WYNN) Stock Price Target Cut by Citigroup

Wynn Resorts (NASDAQ:WYNN) had its price target cut by analysts at Citigroup from $103.00 to $100.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the casino operator’s stock. Citigroup‘s price objective would indicate a potential upside of 14.85% from the company’s current price.

WYNN has been the subject of several other research reports. JPMorgan Chase & Co. decreased their price objective on Wynn Resorts from $115.00 to $112.00 and set an “overweight” rating for the company in a report on Friday. Wall Street Zen lowered Wynn Resorts from a “hold” rating to a “sell” rating in a report on Saturday. Wolfe Research assumed coverage on Wynn Resorts in a research note on Wednesday, September 2nd. They issued an “outperform” rating and a $128.00 price target for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Wynn Resorts in a research report on Monday, September 21st. Finally, Zacks Research raised Wynn Resorts from a “strong sell” rating to a “hold” rating in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $120.88.

Wynn Resorts Stock Up 4.8%

Shares of WYNN stock traded up $3.96 during trading on Monday, reaching $87.07. The company’s stock had a trading volume of 1,480,765 shares, compared to its average volume of 1,740,295. Wynn Resorts has a one year low of $70.79 and a one year high of $134.72. The business has a fifty day moving average price of $80.68 and a 200-day moving average price of $97.68. The company has a market cap of $8.97 billion, a price-to-earnings ratio of 25.98, a price-to-earnings-growth ratio of 1.02 and a beta of 0.96.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Thursday, November 5th. The casino operator reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.19). Wynn Resorts had a net margin of 5.20% and a negative return on equity of 42.73%. The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same period last year, the business posted $0.86 EPS. The firm’s revenue for the quarter was down 7.9% on a year-over-year basis. Research analysts anticipate that Wynn Resorts will post 4.24 EPS for the current year.

Hedge Funds Weigh In On Wynn Resorts

Hedge funds and other institutional investors have recently bought and sold shares of the business. QRG Capital Management Inc. increased its holdings in shares of Wynn Resorts by 4.9% during the 1st quarter. QRG Capital Management Inc. now owns 2,071 shares of the casino operator’s stock worth $210,000 after acquiring an additional 96 shares during the last quarter. Parallel Advisors LLC boosted its position in Wynn Resorts by 18.5% during the first quarter. Parallel Advisors LLC now owns 756 shares of the casino operator’s stock worth $77,000 after purchasing an additional 118 shares during the period. PNC Financial Services Group Inc. boosted its position in Wynn Resorts by 1.4% during the first quarter. PNC Financial Services Group Inc. now owns 11,093 shares of the casino operator’s stock worth $1,127,000 after purchasing an additional 150 shares during the period. Wedmont Private Capital increased its holdings in shares of Wynn Resorts by 5.7% in the second quarter. Wedmont Private Capital now owns 2,845 shares of the casino operator’s stock valued at $284,000 after purchasing an additional 154 shares during the last quarter. Finally, Mufg Securities Americas Inc. increased its holdings in shares of Wynn Resorts by 8.1% in the second quarter. Mufg Securities Americas Inc. now owns 2,526 shares of the casino operator’s stock valued at $245,000 after purchasing an additional 190 shares during the last quarter. Institutional investors own 88.64% of the company’s stock.

About Wynn Resorts

Wynn Resorts, Limited develops and operates luxury hotels and casino resorts. Its properties offer gaming, hotel accommodations, restaurants, retail, entertainment, and convention and meeting facilities.

The company’s portfolio includes Wynn Las Vegas and Encore in Nevada, Encore Boston Harbor in Massachusetts, and Wynn Macau and Wynn Palace in Macau. Its operations therefore span the United States and Macau, a special administrative region of China.

Founded in 2002, Wynn Resorts opened Wynn Las Vegas in 2005.