Wynn Resorts’ (WYNN) “Neutral” Rating Reaffirmed at Citigroup

Wynn Resorts (NASDAQ:WYNN)‘s stock had its “neutral” rating reissued by equities research analysts at Citigroup in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $114.00 target price on the casino operator’s stock, up from their prior target price of $108.00. Citigroup’s price target points to a potential upside of 3.20% from the stock’s current price.

Several other analysts have also weighed in on WYNN. JPMorgan Chase & Co. started coverage on Wynn Resorts in a report on Monday, June 23rd. They issued an “overweight” rating and a $109.00 price objective for the company. Argus lowered Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, April 23rd. Mizuho cut their price target on shares of Wynn Resorts from $132.00 to $122.00 and set an “outperform” rating on the stock in a research note on Thursday, May 8th. Bank of America upgraded Wynn Resorts from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Wednesday, May 7th. Finally, Barclays decreased their price target on Wynn Resorts from $116.00 to $99.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Wynn Resorts has a consensus rating of “Moderate Buy” and a consensus target price of $112.71.

Wynn Resorts Stock Up 1.6%

Shares of NASDAQ:WYNN opened at $110.46 on Wednesday. Wynn Resorts has a 52 week low of $65.25 and a 52 week high of $111.57. The company has a 50-day moving average price of $91.13 and a 200 day moving average price of $85.87. The company has a market cap of $11.55 billion, a P/E ratio of 30.68, a PEG ratio of 3.14 and a beta of 1.37.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Tuesday, May 6th. The casino operator reported $1.07 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.17). Wynn Resorts had a net margin of 6.17% and a negative return on equity of 62.13%. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the previous year, the company posted $1.59 earnings per share. The business’s revenue for the quarter was down 8.7% compared to the same quarter last year. Analysts expect that Wynn Resorts will post 5.17 EPS for the current year.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,262 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $92.12, for a total transaction of $208,375.44. Following the transaction, the director owned 3,066 shares in the company, valued at $282,439.92. This represents a 42.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.52% of the stock is currently owned by company insiders.

Institutional Trading of Wynn Resorts

Large investors have recently bought and sold shares of the company. BOKF NA raised its stake in shares of Wynn Resorts by 3.9% in the fourth quarter. BOKF NA now owns 3,557 shares of the casino operator’s stock worth $289,000 after purchasing an additional 132 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Wynn Resorts by 1.9% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 7,057 shares of the casino operator’s stock worth $589,000 after purchasing an additional 132 shares during the last quarter. Snowden Capital Advisors LLC increased its holdings in Wynn Resorts by 5.6% in the 4th quarter. Snowden Capital Advisors LLC now owns 2,589 shares of the casino operator’s stock worth $223,000 after acquiring an additional 138 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Wynn Resorts by 0.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 31,119 shares of the casino operator’s stock valued at $2,681,000 after purchasing an additional 142 shares during the period. Finally, Navalign LLC boosted its holdings in Wynn Resorts by 1.8% during the 1st quarter. Navalign LLC now owns 8,252 shares of the casino operator’s stock valued at $689,000 after acquiring an additional 144 shares during the period. 88.64% of the stock is owned by hedge funds and other 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.