Susquehanna Increases Wynn Resorts (NASDAQ:WYNN) Price Target to $122.00

Wynn Resorts (NASDAQ:WYNN) had its price objective hoisted by equities researchers at Susquehanna from $92.00 to $122.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “positive” rating on the casino operator’s stock. Susquehanna’s price target points to a potential upside of 16.47% from the company’s previous close.

A number of other research firms have also weighed in on WYNN. Jefferies Financial Group reduced their price objective on shares of Wynn Resorts from $111.00 to $96.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Macquarie reaffirmed an “outperform” rating and set a $126.00 price target on shares of Wynn Resorts in a report on Wednesday, August 7th. Stifel Nicolaus dropped their price target on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a report on Friday, September 13th. UBS Group raised shares of Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. Finally, Wells Fargo & Company dropped their price target on shares of Wynn Resorts from $126.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wynn Resorts currently has an average rating of “Moderate Buy” and an average target price of $115.20.

Wynn Resorts Stock Performance

NASDAQ:WYNN opened at $104.75 on Friday. The firm has a market cap of $11.74 billion, a P/E ratio of 14.35, a P/E/G ratio of 2.67 and a beta of 1.81. Wynn Resorts has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The firm has a 50-day simple moving average of $82.92 and a two-hundred day simple moving average of $89.37.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.91 earnings per share. On average, equities research analysts predict that Wynn Resorts will post 5.44 EPS for the current year.

Insiders Place Their Bets

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the sale, the director now owns 5,689 shares in the company, valued at approximately $447,894.97. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On Wynn Resorts

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new stake in Wynn Resorts during the 2nd quarter worth approximately $25,000. Register Financial Advisors LLC bought a new stake in shares of Wynn Resorts during the first quarter valued at approximately $37,000. Neo Ivy Capital Management bought a new stake in shares of Wynn Resorts during the fourth quarter valued at approximately $40,000. Versant Capital Management Inc bought a new stake in shares of Wynn Resorts during the second quarter valued at approximately $51,000. Finally, Covestor Ltd raised its position in shares of Wynn Resorts by 421.7% during the first quarter. Covestor Ltd now owns 626 shares of the casino operator’s stock valued at $64,000 after buying an additional 506 shares during the last quarter. Institutional investors own 68.87% 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.