Wynn Resorts (NASDAQ:WYNN) Given New $105.00 Price Target at Jefferies Financial Group

Wynn Resorts (NASDAQ:WYNN) had its price objective dropped by research analysts at Jefferies Financial Group from $109.00 to $105.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “hold” rating on the casino operator’s stock. Jefferies Financial Group’s target price indicates a potential upside of 25.30% from the company’s current price.

Several other equities analysts have also recently weighed in on the stock. Macquarie reaffirmed an “outperform” rating and set a $120.00 target price on shares of Wynn Resorts in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Susquehanna boosted their target price on shares of Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a report on Friday, October 11th. Finally, Morgan Stanley boosted their price objective on Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.36.

Wynn Resorts Price Performance

WYNN opened at $83.80 on Friday. The company has a 50 day simple moving average of $91.33 and a two-hundred day simple moving average of $87.45. The firm has a market cap of $9.20 billion, a P/E ratio of 10.33, a PEG ratio of 3.46 and a beta of 1.78. Wynn Resorts has a 1-year low of $71.63 and a 1-year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The company’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.99 EPS. Equities analysts anticipate that Wynn Resorts will post 4.79 earnings per share for the current year.

Hedge Funds Weigh In On Wynn Resorts

A number of hedge funds have recently added to or reduced their stakes in WYNN. GAMMA Investing LLC grew its stake in Wynn Resorts by 91.9% in the fourth quarter. GAMMA Investing LLC now owns 2,885 shares of the casino operator’s stock worth $249,000 after purchasing an additional 1,382 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Wynn Resorts by 1.9% in the 3rd quarter. Principal Financial Group Inc. now owns 108,067 shares of the casino operator’s stock valued at $10,361,000 after acquiring an additional 2,001 shares during the period. Franklin Resources Inc. raised its position in shares of Wynn Resorts by 0.5% in the 3rd quarter. Franklin Resources Inc. now owns 250,962 shares of the casino operator’s stock worth $26,088,000 after acquiring an additional 1,165 shares in the last quarter. Synovus Financial Corp purchased a new stake in shares of Wynn Resorts during the 3rd quarter worth $202,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Wynn Resorts during the third quarter valued at about $31,000. 88.64% of the stock is currently owned by institutional investors.

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.