Wynn Resorts (NASDAQ:WYNN) Price Target Lowered to $105.00 at Jefferies Financial Group

Wynn Resorts (NASDAQ:WYNN) had its price objective cut by analysts at Jefferies Financial Group from $109.00 to $105.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the casino operator’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 25.30% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the company. JPMorgan Chase & Co. boosted their target price on Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft decreased their price objective on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Barclays dropped their target price on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Stifel Nicolaus reduced their price objective on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research report on Friday, September 13th. Finally, Wells Fargo & Company decreased their target price on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $116.36.

Wynn Resorts Trading Down 2.7 %

WYNN stock opened at $83.80 on Friday. The company has a market capitalization of $9.20 billion, a P/E ratio of 10.33, a PEG ratio of 3.46 and a beta of 1.78. Wynn Resorts has a twelve month low of $71.63 and a twelve month high of $110.38. The firm has a 50 day simple moving average of $91.33 and a 200-day simple moving average of $87.45.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 earnings per share. On average, research analysts predict that Wynn Resorts will post 4.79 EPS for the current year.

Institutional Trading of Wynn Resorts

Institutional investors have recently added to or reduced their stakes in the stock. Regal Partners Ltd grew its position in Wynn Resorts by 24.0% in the third quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock worth $86,168,000 after acquiring an additional 174,005 shares in the last quarter. Wellington Management Group LLP lifted its stake in Wynn Resorts by 90.6% in the third quarter. Wellington Management Group LLP now owns 115,707 shares of the casino operator’s stock worth $11,094,000 after acquiring an additional 54,995 shares during the period. Crystal Rock Capital Management purchased a new position in shares of Wynn Resorts in the 3rd quarter valued at approximately $719,000. MBB Public Markets I LLC bought a new position in shares of Wynn Resorts in the 2nd quarter worth about $698,000. Finally, APG Asset Management N.V. grew its stake in shares of Wynn Resorts by 231.0% in the 2nd quarter. APG Asset Management N.V. now owns 11,176 shares of the casino operator’s stock worth $933,000 after buying an additional 7,800 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.