Goldman Sachs Group upgraded shares of Wynn Resorts (NASDAQ:WYNN) from a buy rating to a conviction-buy rating in a research report report published on Monday, The Fly reports.

A number of other research firms have also weighed in on WYNN. ValuEngine raised shares of Wynn Resorts from a sell rating to a hold rating in a report on Monday, November 25th. BidaskClub upgraded Wynn Resorts from a hold rating to a buy rating in a research report on Saturday, December 21st. Nomura lowered their price target on Wynn Resorts from $126.00 to $117.00 and set a buy rating for the company in a research report on Tuesday, October 8th. JPMorgan Chase & Co. raised their price target on Wynn Resorts from $136.00 to $143.00 and gave the stock an overweight rating in a research report on Thursday, November 7th. Finally, Morgan Stanley lowered their price target on Wynn Resorts from $129.00 to $115.00 and set an equal weight rating for the company in a research report on Tuesday, September 17th. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Wynn Resorts has a consensus rating of Buy and a consensus target price of $140.94.

WYNN stock opened at $150.95 on Monday. The firm has a fifty day moving average price of $133.87 and a 200 day moving average price of $122.27. Wynn Resorts has a fifty-two week low of $102.03 and a fifty-two week high of $151.50. The company has a debt-to-equity ratio of 5.75, a quick ratio of 1.05 and a current ratio of 1.09. The firm has a market cap of $16.11 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 2.81 and a beta of 2.08.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Wednesday, November 6th. The casino operator reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.73). Wynn Resorts had a net margin of 10.12% and a return on equity of 25.33%. The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period last year, the business posted $1.68 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, equities analysts predict that Wynn Resorts will post 4.13 EPS for the current year.

In other news, CFO Craig Scott Billings sold 3,750 shares of Wynn Resorts stock in a transaction on Monday, November 18th. The stock was sold at an average price of $119.85, for a total transaction of $449,437.50. Following the completion of the sale, the chief financial officer now directly owns 66,451 shares in the company, valued at $7,964,152.35. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Matt Maddox sold 25,000 shares of Wynn Resorts stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $120.18, for a total value of $3,004,500.00. Following the sale, the chief executive officer now owns 368,651 shares of the company’s stock, valued at $44,304,477.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,750 shares of company stock valued at $6,515,688. Corporate insiders own 0.58% of the company’s stock.

Several large investors have recently added to or reduced their stakes in WYNN. Price T Rowe Associates Inc. MD lifted its position in shares of Wynn Resorts by 9.9% during the second quarter. Price T Rowe Associates Inc. MD now owns 8,857,209 shares of the casino operator’s stock worth $1,098,205,000 after purchasing an additional 801,270 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Wynn Resorts during the second quarter valued at $54,333,000. Hoplite Capital Management L.P. purchased a new position in shares of Wynn Resorts during the second quarter valued at $29,677,000. Kensico Capital Management Corp increased its stake in shares of Wynn Resorts by 54.4% during the third quarter. Kensico Capital Management Corp now owns 610,000 shares of the casino operator’s stock valued at $66,319,000 after buying an additional 215,000 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in shares of Wynn Resorts during the third quarter valued at $20,771,000. Institutional investors and hedge funds own 72.88% of the company’s stock.

About Wynn Resorts

Wynn Resorts, Limited owns and operates destination casino resorts. As of February 20, 2019, the company's Wynn Palace segment had approximately 424,000 square feet of casino space, which offered 320 table games and 1,041 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas; 13 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities comprising a gondola ride, health club, spa, salon, and pool; and public attractions, such as performance lake and floral art displays.

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Analyst Recommendations for Wynn Resorts (NASDAQ:WYNN)

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