Citigroup Inc. Increases Wynn Resorts, Limited (WYNN) Price Target to $161.00

Wynn Resorts, Limited (NASDAQ:WYNN) had its price objective hoisted by analysts at Citigroup Inc. to $161.00 in a research note issued on Monday. The brokerage presently has a “buy” rating on the casino operator’s stock. Citigroup Inc.’s price target would indicate a potential upside of 9.97% from the company’s previous close.

Other research analysts also recently issued reports about the company. UBS AG reissued a “buy” rating on shares of Wynn Resorts, Limited in a research note on Monday, July 10th. Vetr raised Wynn Resorts, Limited from a “hold” rating to a “buy” rating and set a $140.28 price objective for the company in a research note on Thursday, June 29th. Deutsche Bank AG raised Wynn Resorts, Limited from a “hold” rating to a “buy” rating and increased their price objective for the company from $138.00 to $150.00 in a research note on Tuesday, August 15th. Zacks Investment Research raised Wynn Resorts, Limited from a “hold” rating to a “buy” rating and set a $162.00 price objective for the company in a research note on Tuesday, September 26th. Finally, BidaskClub downgraded Wynn Resorts, Limited from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Twelve investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Wynn Resorts, Limited presently has a consensus rating of “Buy” and a consensus price target of $137.52.

Shares of Wynn Resorts, Limited (WYNN) opened at 146.40 on Monday. The company has a market cap of $14.92 billion, a PE ratio of 54.79 and a beta of 1.67. Wynn Resorts, Limited has a 52-week low of $82.51 and a 52-week high of $150.40. The stock’s 50 day moving average is $143.64 and its 200 day moving average is $131.82.

Wynn Resorts, Limited (NASDAQ:WYNN) last posted its quarterly earnings data on Tuesday, July 25th. The casino operator reported $1.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.02. Wynn Resorts, Limited had a return on equity of 121.81% and a net margin of 6.98%. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the prior year, the company earned $1.07 EPS. The firm’s revenue was up 44.5% compared to the same quarter last year. Equities analysts forecast that Wynn Resorts, Limited will post $5.08 EPS for the current year.

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In related news, Director Clark T. Jr. Randt sold 3,000 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $129.00, for a total transaction of $387,000.00. Following the completion of the transaction, the director now directly owns 7,711 shares in the company, valued at approximately $994,719. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Matt Maddox sold 42,900 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $143.44, for a total value of $6,153,576.00. Following the transaction, the president now owns 350,586 shares of the company’s stock, valued at $50,288,055.84. The disclosure for this sale can be found here. Insiders have sold a total of 67,351 shares of company stock valued at $9,621,369 over the last three months. Corporate insiders own 13.20% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Sunbelt Securities Inc. boosted its holdings in Wynn Resorts, Limited by 0.4% during the 2nd quarter. Sunbelt Securities Inc. now owns 2,050 shares of the casino operator’s stock valued at $275,000 after acquiring an additional 8 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Wynn Resorts, Limited by 0.6% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,932 shares of the casino operator’s stock valued at $796,000 after acquiring an additional 35 shares during the period. Xact Kapitalforvaltning AB boosted its holdings in Wynn Resorts, Limited by 0.6% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 6,367 shares of the casino operator’s stock valued at $854,000 after acquiring an additional 39 shares during the period. Cookson Peirce & Co. Inc. boosted its holdings in Wynn Resorts, Limited by 1.3% during the 2nd quarter. Cookson Peirce & Co. Inc. now owns 3,230 shares of the casino operator’s stock valued at $433,000 after acquiring an additional 40 shares during the period. Finally, Global X Management Co. LLC boosted its holdings in Wynn Resorts, Limited by 2.1% during the 2nd quarter. Global X Management Co. LLC now owns 2,127 shares of the casino operator’s stock valued at $285,000 after acquiring an additional 43 shares during the period. Institutional investors own 70.80% of the company’s stock.

About Wynn Resorts, Limited

Wynn Resorts, Limited (Wynn Resorts) is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company’s segments include Macau Operations and Las Vegas Operations.

Analyst Recommendations for Wynn Resorts, Limited (NASDAQ:WYNN)

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