Susquehanna Increases Wynn Resorts (NASDAQ:WYNN) Price Target to $122.00

Wynn Resorts (NASDAQ:WYNN) had its price objective increased by stock analysts at Susquehanna from $92.00 to $122.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “positive” rating on the casino operator’s stock. Susquehanna’s price objective indicates a potential upside of 16.47% from the company’s current price.

A number of other analysts have also weighed in on the stock. JPMorgan Chase & Co. decreased their target price on shares of Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Wynn Resorts from $131.00 to $122.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. UBS Group raised shares of Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. Wells Fargo & Company cut their price target on shares of Wynn Resorts from $126.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Finally, Morgan Stanley boosted their price target on shares of Wynn Resorts from $104.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Wynn Resorts presently has a consensus rating of “Moderate Buy” and an average price target of $115.20.

Wynn Resorts Trading Up 1.0 %

Wynn Resorts stock opened at $104.75 on Friday. The firm’s 50 day simple moving average is $82.92 and its 200 day simple moving average is $89.37. The firm has a market capitalization of $11.74 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 2.67 and a beta of 1.81. Wynn Resorts has a 1-year low of $71.63 and a 1-year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The business’s revenue was up 8.4% on a year-over-year basis. During the same period last year, the company posted $0.91 EPS. Research analysts forecast that Wynn Resorts will post 5.44 earnings per share for the current year.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the sale, the director now owns 5,689 shares of the company’s stock, valued at $447,894.97. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.52% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Wynn Resorts

Several institutional investors have recently added to or reduced their stakes in WYNN. CX Institutional bought a new position in Wynn Resorts in the 3rd quarter worth $264,000. Wedge Capital Management L L P NC raised its holdings in Wynn Resorts by 47.8% in the 3rd quarter. Wedge Capital Management L L P NC now owns 46,286 shares of the casino operator’s stock worth $4,438,000 after purchasing an additional 14,964 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in Wynn Resorts by 123.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 13,222 shares of the casino operator’s stock worth $1,268,000 after purchasing an additional 7,315 shares in the last quarter. Burns Matteson Capital Management LLC raised its holdings in Wynn Resorts by 6.8% in the 3rd quarter. Burns Matteson Capital Management LLC now owns 3,671 shares of the casino operator’s stock worth $352,000 after purchasing an additional 234 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Wynn Resorts by 703.1% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,028 shares of the casino operator’s stock worth $99,000 after purchasing an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Wynn Resorts Company Profile

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.