Stifel Nicolaus Issues Pessimistic Forecast for Wynn Resorts (NASDAQ:WYNN) Stock Price

Wynn Resorts (NASDAQ:WYNN) had its target price lowered by stock analysts at Stifel Nicolaus from $143.00 to $120.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the casino operator’s stock. Stifel Nicolaus’ price target suggests a potential upside of 56.18% from the stock’s current price.

A number of other analysts have also recently issued reports on WYNN. Zacks Research upgraded Wynn Resorts from a “strong sell” rating to a “hold” rating in a research report on Monday, August 10th. Wells Fargo & Company reduced their target price on Wynn Resorts from $131.00 to $125.00 and set an “overweight” rating for the company in a research report on Monday. Truist Financial decreased their price target on shares of Wynn Resorts from $125.00 to $110.00 and set a “buy” rating on the stock in a research note on Tuesday. Wolfe Research began coverage on shares of Wynn Resorts in a research note on Wednesday, September 2nd. They set an “outperform” rating and a $128.00 price target on the stock. Finally, UBS Group set a $120.00 price target on shares of Wynn Resorts in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $126.00.

Wynn Resorts Trading Up 1.1%

WYNN stock traded up $0.85 during trading on Tuesday, reaching $76.83. 1,157,104 shares of the stock were exchanged, compared to its average volume of 1,668,309. Wynn Resorts has a twelve month low of $73.07 and a twelve month high of $134.72. The company has a market capitalization of $7.91 billion, a P/E ratio of 19.05, a price-to-earnings-growth ratio of 0.91 and a beta of 0.96. The stock has a 50 day simple moving average of $87.26 and a 200-day simple moving average of $96.44.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Tuesday, August 4th. The casino operator reported $1.24 EPS for the quarter, beating the consensus estimate of $0.99 by $0.25. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter in the prior year, the firm posted $1.09 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities analysts predict that Wynn Resorts will post 4.55 EPS for the current year.

Institutional Trading of Wynn Resorts

Several institutional investors have recently bought and sold shares of WYNN. SHP Wealth Management bought a new position in Wynn Resorts in the fourth quarter valued at about $32,000. Operose Advisors LLC increased its position in Wynn Resorts by 400.0% in the second quarter. Operose Advisors LLC now owns 500 shares of the casino operator’s stock worth $49,000 after purchasing an additional 400 shares during the period. Parallel Advisors LLC raised its holdings in Wynn Resorts by 18.5% during the 1st 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 last quarter. Optiver Holding B.V. bought a new stake in Wynn Resorts during the 1st quarter worth about $90,000. Finally, GKV Capital Management Co. Inc. bought a new stake in Wynn Resorts during the 1st quarter worth about $102,000. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Company Profile

Wynn Resorts, Ltd. is a developer and operator of luxury integrated resorts, with a focus on destination casinos, hotels, restaurants, entertainment venues, retail, and convention facilities. Its properties are designed to combine gaming with premium hospitality and leisure experiences.

The company operates Wynn Las Vegas and Encore Las Vegas in Nevada, Encore Boston Harbor in Massachusetts, and Wynn Macau and Wynn Palace in Macau. These resorts serve visitors in the United States and international markets, offering accommodations, casino gaming, dining, nightlife, retail, spas, entertainment, and meeting and convention services.

Wynn Resorts was founded in 2002 by casino executive Steve Wynn.