Wynn Resorts (NASDAQ:WYNN) Given New $103.00 Price Target at Morgan Stanley

Wynn Resorts (NASDAQ:WYNN) had its target price reduced by stock analysts at Morgan Stanley from $105.00 to $103.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the casino operator’s stock. Morgan Stanley’s target price points to a potential upside of 13.15% from the company’s previous close.

WYNN has been the subject of several other reports. StockNews.com upgraded Wynn Resorts from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. Barclays increased their target price on Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Deutsche Bank Aktiengesellschaft reduced their price target on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Macquarie reiterated an “outperform” rating and set a $115.00 price objective on shares of Wynn Resorts in a research report on Friday, February 14th. Finally, Mizuho boosted their target price on shares of Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, February 14th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $119.58.

Wynn Resorts Price Performance

Wynn Resorts stock opened at $91.03 on Monday. The company has a market cap of $9.69 billion, a price-to-earnings ratio of 21.62, a P/E/G ratio of 2.35 and a beta of 1.76. The firm has a 50-day moving average of $85.30 and a 200-day moving average of $87.64. Wynn Resorts has a one year low of $71.63 and a one year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, beating the consensus estimate of $1.27 by $1.15. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. As a group, sell-side analysts expect that Wynn Resorts will post 5.17 earnings per share for the current year.

Insider Transactions at Wynn Resorts

In related news, Director Philip G. Satre purchased 22,200 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average cost of $92.18 per share, with a total value of $2,046,396.00. Following the acquisition, the director now owns 34,195 shares of the company’s stock, valued at $3,152,095.10. This trade represents a 185.08 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.52% of the company’s stock.

Institutional Trading of Wynn Resorts

A number of hedge funds have recently added to or reduced their stakes in the stock. Heck Capital Advisors LLC bought a new position in shares of Wynn Resorts in the 4th quarter valued at $386,000. Mackenzie Financial Corp bought a new position in Wynn Resorts in the fourth quarter valued at about $282,000. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Wynn Resorts by 18.4% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator’s stock valued at $269,308,000 after purchasing an additional 485,204 shares in the last quarter. Worldquant Millennium Advisors LLC bought a new stake in shares of Wynn Resorts during the fourth quarter worth about $14,413,000. Finally, Woodline Partners LP acquired a new position in shares of Wynn Resorts in the fourth quarter valued at approximately $479,000. Institutional investors and hedge funds own 88.64% 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.