Mizuho Cuts Wynn Resorts (NASDAQ:WYNN) Price Target to $125.00

Wynn Resorts (NASDAQ:WYNN) had its price target dropped by analysts at Mizuho from $133.00 to $125.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the casino operator’s stock. Mizuho’s price target indicates a potential upside of 25.38% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Bank of America dropped their price target on Wynn Resorts from $150.00 to $140.00 and set a “buy” rating for the company in a report on Monday, May 11th. Citigroup reduced their price objective on Wynn Resorts from $145.00 to $132.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. JPMorgan Chase & Co. decreased their target price on Wynn Resorts from $135.00 to $134.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. Barclays cut their price target on Wynn Resorts from $139.00 to $134.00 and set an “overweight” rating for the company in a report on Thursday, July 9th. Finally, Zacks Research lowered shares of Wynn Resorts from a “hold” rating to a “strong sell” rating in a report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $135.44.

Wynn Resorts Stock Up 2.9%

Shares of Wynn Resorts stock opened at $99.70 on Tuesday. Wynn Resorts has a 12-month low of $92.52 and a 12-month high of $134.72. The stock has a market capitalization of $10.35 billion, a P/E ratio of 29.76, a price-to-earnings-growth ratio of 0.95 and a beta of 0.99. The company has a 50-day simple moving average of $100.30 and a 200 day simple moving average of $104.71.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Thursday, May 7th. The casino operator reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.82 billion. Wynn Resorts had a net margin of 5.14% and a negative return on equity of 42.03%. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.07 earnings per share. On average, equities analysts anticipate that Wynn Resorts will post 4.49 earnings per share for the current year.

Hedge Funds Weigh In On Wynn Resorts

Several large investors have recently made changes to their positions in WYNN. MUFG Securities EMEA plc acquired a new stake in Wynn Resorts in the second quarter worth about $25,000. Hantz Financial Services Inc. lifted its position in Wynn Resorts by 54.9% during the 4th quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock valued at $30,000 after purchasing an additional 89 shares during the period. Cromwell Holdings LLC boosted its stake in shares of Wynn Resorts by 68.2% in the 4th quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock valued at $31,000 after purchasing an additional 103 shares during the last quarter. SHP Wealth Management acquired a new stake in shares of Wynn Resorts during the 4th quarter worth approximately $32,000. Finally, Geneos Wealth Management Inc. grew its position in shares of Wynn Resorts by 69.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after buying an additional 156 shares during the period. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Company Profile

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.