Morgan Stanley Raises Wynn Resorts (NASDAQ:WYNN) Price Target to $152.00

Wynn Resorts (NASDAQ:WYNN) had its target price raised by Morgan Stanley from $120.00 to $152.00 in a research note issued to investors on Tuesday, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the casino operator’s stock.

Other research analysts have also recently issued research reports about the company. Goldman Sachs Group lifted their target price on Wynn Resorts from $157.00 to $181.00 and gave the company a buy rating in a report on Tuesday, January 14th. Standpoint Research cut Wynn Resorts from a buy rating to a hold rating in a research note on Thursday, January 16th. Nomura reduced their price objective on Wynn Resorts from $126.00 to $117.00 and set a buy rating on the stock in a research note on Tuesday, October 8th. BidaskClub upgraded Wynn Resorts from a hold rating to a buy rating in a research note on Saturday, December 21st. Finally, Wolfe Research upgraded Wynn Resorts from a peer perform rating to an outperform rating and set a $176.00 price objective on the stock in a research note on Friday, January 10th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $143.28.

Wynn Resorts stock traded down $5.01 during midday trading on Tuesday, reaching $134.10. The stock had a trading volume of 226,960 shares, compared to its average volume of 1,853,269. Wynn Resorts has a twelve month low of $102.03 and a twelve month high of $153.41. The stock has a market capitalization of $15.04 billion, a PE ratio of 21.46, a price-to-earnings-growth ratio of 2.63 and a beta of 2.08. The company has a debt-to-equity ratio of 5.75, a quick ratio of 1.05 and a current ratio of 1.09. The stock’s 50-day simple moving average is $138.24 and its 200 day simple moving average is $123.00.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Wednesday, November 6th. The casino operator reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.90 by ($0.73). Wynn Resorts had a net margin of 10.12% and a return on equity of 25.33%. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the previous year, the business posted $1.68 EPS. Wynn Resorts’s revenue was down 3.6% compared to the same quarter last year. Equities analysts predict that Wynn Resorts will post 4.1 earnings per share for the current fiscal year.

In related news, CEO Matt Maddox sold 25,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $120.18, for a total value of $3,004,500.00. Following the completion of the sale, the chief executive officer now directly owns 368,651 shares of the company’s stock, valued at $44,304,477.18. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Craig Scott Billings sold 3,750 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $119.85, for a total value of $449,437.50. Following the completion of the sale, the chief financial officer now directly owns 66,451 shares of the company’s stock, valued at $7,964,152.35. The disclosure for this sale can be found here. Over the last three months, insiders sold 53,750 shares of company stock valued at $6,515,688. 0.58% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the company. Huntington National Bank bought a new position in shares of Wynn Resorts during the fourth quarter valued at approximately $28,000. Point72 Hong Kong Ltd bought a new position in shares of Wynn Resorts during the second quarter valued at approximately $31,000. Lenox Wealth Advisors LLC bought a new position in shares of Wynn Resorts during the third quarter valued at approximately $35,000. Manchester Financial Inc. bought a new position in shares of Wynn Resorts during the fourth quarter valued at approximately $41,000. Finally, Howe & Rusling Inc. bought a new position in shares of Wynn Resorts during the third quarter valued at approximately $48,000. 72.91% of the stock is owned by institutional investors.

About Wynn Resorts

Wynn Resorts, Limited owns and operates destination casino resorts. As of February 20, 2019, the company's Wynn Palace segment had approximately 424,000 square feet of casino space, which offered 320 table games and 1,041 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas; 13 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities comprising a gondola ride, health club, spa, salon, and pool; and public attractions, such as performance lake and floral art displays.

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Analyst Recommendations for Wynn Resorts (NASDAQ:WYNN)

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