Wynn Resorts, Limited (NASDAQ:WYNN) Given Consensus Rating of “Hold” by Brokerages

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) have been assigned an average rating of “Hold” from the fourteen ratings firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $111.18.

A number of research analysts have weighed in on the stock. The Goldman Sachs Group cut their price objective on shares of Wynn Resorts from $116.00 to $110.00 and set a “neutral” rating for the company in a report on Wednesday, July 28th. Bank of America lowered Wynn Resorts from a “buy” rating to a “neutral” rating in a report on Monday, August 9th. Argus lowered Wynn Resorts from a “buy” rating to a “hold” rating in a report on Friday, September 17th. JPMorgan Chase & Co. lowered Wynn Resorts from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $122.00 to $89.00 in a report on Thursday, September 16th. Finally, Citigroup decreased their price objective on shares of Wynn Resorts from $120.00 to $99.00 and set a “buy” rating on the stock in a report on Tuesday, September 28th.

In other news, Director Patricia Mulroy sold 400 shares of the company’s stock in a transaction on Wednesday, August 11th. The shares were sold at an average price of $97.13, for a total transaction of $38,852.00. Following the completion of the sale, the director now owns 8,107 shares of the company’s stock, valued at $787,432.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.62% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ameritas Investment Company LLC purchased a new stake in shares of Wynn Resorts during the 1st quarter valued at approximately $25,000. Koshinski Asset Management Inc. purchased a new stake in shares of Wynn Resorts during the 3rd quarter valued at approximately $29,000. Harvest Fund Management Co. Ltd purchased a new stake in Wynn Resorts in the 1st quarter valued at about $31,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Wynn Resorts in the 2nd quarter valued at about $34,000. Finally, Bessemer Group Inc. increased its holdings in Wynn Resorts by 350.8% in the 2nd quarter. Bessemer Group Inc. now owns 293 shares of the casino operator’s stock valued at $36,000 after purchasing an additional 228 shares during the last quarter. Institutional investors and hedge funds own 68.06% of the company’s stock.

NASDAQ:WYNN traded up $1.74 during trading hours on Tuesday, reaching $92.16. The company had a trading volume of 2,884,700 shares, compared to its average volume of 3,299,020. Wynn Resorts has a 1-year low of $67.70 and a 1-year high of $143.88. The company has a market capitalization of $10.66 billion, a price-to-earnings ratio of -6.92 and a beta of 2.40. The stock has a 50 day moving average price of $92.24.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Wednesday, August 4th. The casino operator reported ($1.12) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.41) by $0.29. The company had revenue of $990.10 million during the quarter, compared to analyst estimates of $915.70 million. During the same period in the previous year, the firm posted ($6.14) earnings per share. The company’s revenue was up 1055.3% compared to the same quarter last year. On average, research analysts forecast that Wynn Resorts will post -5.56 EPS for the current year.

Wynn Resorts Company Profile

Wynn Resorts Ltd. is a holding company, which engages in the design, development, and operation of destination casino resorts. It operates through the following segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The company was founded by Stephen Alan Wynn, Elaine P. Wynn, and Kazuo Okada in 2002 and is headquartered in Las Vegas, NV.

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Analyst Recommendations for Wynn Resorts (NASDAQ:WYNN)

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