Wynn Resorts, Limited’s (WYNN) “Market Perform” Rating Reaffirmed at Telsey Advisory Group
Telsey Advisory Group reaffirmed their market perform rating on shares of Wynn Resorts, Limited (NASDAQ:WYNN) in a research report report published on Monday morning. Telsey Advisory Group currently has a $157.00 price objective on the casino operator’s stock, up from their prior price objective of $150.00.
Several other research firms have also issued reports on WYNN. Vetr raised Wynn Resorts, Limited from a hold rating to a buy rating and set a $140.28 target price on the stock in a research note on Thursday, June 29th. Sanford C. Bernstein reissued an outperform rating on shares of Wynn Resorts, Limited in a research note on Wednesday, July 12th. Morgan Stanley reissued an overweight rating and set a $151.00 target price (up previously from $133.00) on shares of Wynn Resorts, Limited in a research note on Monday, July 10th. Zacks Investment Research lowered Wynn Resorts, Limited from a buy rating to a hold rating in a research note on Monday, August 7th. Finally, Deutsche Bank AG reissued a hold rating and set a $138.00 target price on shares of Wynn Resorts, Limited in a research note on Monday, June 5th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $134.28.
Shares of Wynn Resorts, Limited (NASDAQ:WYNN) opened at 146.96 on Monday. The company has a market capitalization of $14.98 billion, a P/E ratio of 55.00 and a beta of 1.67. Wynn Resorts, Limited has a 52-week low of $82.51 and a 52-week high of $150.40. The stock’s 50 day moving average price is $142.07 and its 200 day moving average price is $130.29.
Wynn Resorts, Limited (NASDAQ:WYNN) last posted its earnings results on Tuesday, July 25th. The casino operator reported $1.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.02. Wynn Resorts, Limited had a return on equity of 165.77% and a net margin of 5.02%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the prior year, the company earned $1.07 EPS. Wynn Resorts, Limited’s revenue was up 44.5% on a year-over-year basis. On average, equities research analysts forecast that Wynn Resorts, Limited will post $5.06 earnings per share for the current fiscal year.
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In related news, EVP Kimmarie Sinatra sold 21,451 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $143.62, for a total transaction of $3,080,792.62. Following the transaction, the executive vice president now owns 223,443 shares in the company, valued at approximately $32,090,883.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Clark T. Jr. Randt sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $129.00, for a total value of $387,000.00. Following the transaction, the director now owns 7,711 shares in the company, valued at approximately $994,719. The disclosure for this sale can be found here. Insiders have sold a total of 67,351 shares of company stock worth $9,621,369 in the last three months. Corporate insiders own 13.20% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. MARSHALL WACE ASIA Ltd purchased a new position in Wynn Resorts, Limited during the 1st quarter worth approximately $1,893,000. Monetta Financial Services Inc. purchased a new position in Wynn Resorts, Limited during the 2nd quarter worth approximately $1,542,000. M&T Bank Corp grew its stake in Wynn Resorts, Limited by 1.3% during the 1st quarter. M&T Bank Corp now owns 3,883 shares of the casino operator’s stock worth $445,000 after buying an additional 48 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Wynn Resorts, Limited by 0.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 228,967 shares of the casino operator’s stock worth $30,709,000 after buying an additional 811 shares during the last quarter. Finally, CIBC World Markets Inc. purchased a new position in Wynn Resorts, Limited during the 2nd quarter worth approximately $5,666,000. Hedge funds and other institutional investors own 70.81% of the company’s stock.
Wynn Resorts, Limited Company Profile
Wynn Resorts, Limited (Wynn Resorts) is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company’s segments include Macau Operations and Las Vegas Operations.
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