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

Wynn Resorts, Limited (NASDAQ:WYNNGet Rating) has been assigned an average recommendation of “Hold” from the fourteen ratings firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $103.46.

WYNN has been the topic of a number of analyst reports. Jefferies Financial Group lifted their target price on shares of Wynn Resorts from $90.00 to $105.00 in a research report on Friday, January 21st. StockNews.com initiated coverage on shares of Wynn Resorts in a report on Thursday, March 31st. They issued a “sell” rating on the stock. Wells Fargo & Company cut their price target on shares of Wynn Resorts from $97.00 to $79.00 in a report on Wednesday. Citigroup raised shares of Wynn Resorts from a “neutral” rating to a “buy” rating and cut their price target for the stock from $98.00 to $96.50 in a report on Friday, April 1st. Finally, Union Gaming Research raised their price target on shares of Wynn Resorts from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, February 16th.

Several institutional investors and hedge funds have recently made changes to their positions in WYNN. Norges Bank bought a new stake in shares of Wynn Resorts during the 4th quarter valued at about $64,347,000. Voloridge Investment Management LLC boosted its stake in Wynn Resorts by 2,448.4% during the third quarter. Voloridge Investment Management LLC now owns 611,259 shares of the casino operator’s stock worth $51,804,000 after acquiring an additional 587,273 shares in the last quarter. Bank of Montreal Can boosted its stake in Wynn Resorts by 344.7% during the fourth quarter. Bank of Montreal Can now owns 415,496 shares of the casino operator’s stock worth $36,045,000 after acquiring an additional 322,073 shares in the last quarter. Franklin Resources Inc. boosted its stake in Wynn Resorts by 65.7% during the third quarter. Franklin Resources Inc. now owns 681,375 shares of the casino operator’s stock worth $57,746,000 after acquiring an additional 270,203 shares in the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in Wynn Resorts by 240.3% during the third quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 232,483 shares of the casino operator’s stock worth $19,572,000 after acquiring an additional 164,174 shares in the last quarter. 62.72% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Wynn Resorts stock traded up $7.71 on Friday, hitting $66.27. 5,999,613 shares of the company traded hands, compared to its average volume of 2,931,255. The company has a market cap of $7.68 billion, a P/E ratio of -11.57 and a beta of 2.22. The firm’s 50-day simple moving average is $73.58 and its 200 day simple moving average is $82.97. Wynn Resorts has a 12-month low of $56.36 and a 12-month high of $136.83.

Wynn Resorts (NASDAQ:WYNNGet Rating) last issued its earnings results on Tuesday, May 10th. The casino operator reported ($1.21) EPS for the quarter, missing analysts’ consensus estimates of ($1.15) by ($0.06). The company had revenue of $953.40 million for the quarter, compared to the consensus estimate of $986.35 million. The firm’s revenue for the quarter was up 31.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($2.41) EPS. Research analysts forecast that Wynn Resorts will post -2.95 EPS for the current year.

About Wynn Resorts (Get Rating)

Wynn Resorts, Limited designs, develops, and operates integrated resorts. Its Wynn Palace segment operates 424,000 square feet of casino space with 323 table games, 1,035 slot machines, private gaming salons, and sky casinos; a luxury hotel tower with 1,706 guest rooms, suites, and villas, including a health club, spa, salon, and pool; 14 food and beverage outlets; 107,000 square feet of retail space; 37,000 square feet of meeting and convention space; and performance lake and floral art displays.

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