Wynn Resorts (NASDAQ:WYNN) Given “Outperform” Rating at Macquarie

Wynn Resorts (NASDAQ:WYNN)‘s stock had its “outperform” rating restated by investment analysts at Macquarie in a research note issued on Monday,Benzinga reports. They currently have a $143.00 price target on the casino operator’s stock. Macquarie’s price objective points to a potential upside of 11.38% from the company’s previous close.

A number of other research firms also recently weighed in on WYNN. Barclays increased their price target on shares of Wynn Resorts from $127.00 to $141.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $155.00 target price on shares of Wynn Resorts in a research report on Monday. JPMorgan Chase & Co. lifted their target price on Wynn Resorts from $138.00 to $145.00 and gave the company an “overweight” rating in a report on Monday. Stifel Nicolaus upped their price target on Wynn Resorts from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Zacks Research downgraded Wynn Resorts from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $139.15.

Wynn Resorts Price Performance

NASDAQ:WYNN traded up $2.89 during mid-day trading on Monday, reaching $128.40. The company’s stock had a trading volume of 753,839 shares, compared to its average volume of 2,231,196. The company’s fifty day simple moving average is $123.74 and its two-hundred day simple moving average is $112.90. Wynn Resorts has a twelve month low of $65.25 and a twelve month high of $134.72. The stock has a market cap of $13.35 billion, a P/E ratio of 28.71, a P/E/G ratio of 8.61 and a beta of 1.10.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Thursday, November 6th. The casino operator reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.23). The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.76 billion. Wynn Resorts had a net margin of 7.09% and a negative return on equity of 54.88%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.90 EPS. Sell-side analysts expect that Wynn Resorts will post 5.17 EPS for the current fiscal year.

Institutional Trading of Wynn Resorts

A number of hedge funds have recently made changes to their positions in the company. CIBC Private Wealth Group LLC boosted its stake in shares of Wynn Resorts by 54.6% in the third quarter. CIBC Private Wealth Group LLC now owns 1,384 shares of the casino operator’s stock valued at $178,000 after purchasing an additional 489 shares during the period. CIBC Bancorp USA Inc. acquired a new position in Wynn Resorts in the 3rd quarter worth $1,106,000. Sunbelt Securities Inc. boosted its position in Wynn Resorts by 23.8% in the 3rd quarter. Sunbelt Securities Inc. now owns 3,364 shares of the casino operator’s stock valued at $432,000 after buying an additional 647 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of Wynn Resorts during the third quarter valued at about $70,000. Finally, Armistice Capital LLC increased its position in shares of Wynn Resorts by 160.7% during the third quarter. Armistice Capital LLC now owns 116,944 shares of the casino operator’s stock worth $15,000,000 after acquiring an additional 72,087 shares during the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

About Wynn Resorts

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.