Wynn Resorts (NASDAQ:WYNN) Earns Equal Weight Rating from Analysts at Morgan Stanley

Morgan Stanley assumed coverage on shares of Wynn Resorts (NASDAQ:WYNNGet Rating) in a research report sent to investors on Monday morning, Marketbeat.com reports. The brokerage issued an equal weight rating and a $77.00 target price on the casino operator’s stock.

Several other research analysts also recently commented on WYNN. Wells Fargo & Company cut their target price on Wynn Resorts from $77.00 to $74.00 and set an equal weight rating for the company in a research note on Thursday, November 10th. Barclays raised their target price on Wynn Resorts to $75.00 in a research note on Tuesday, November 15th. Credit Suisse Group upgraded Wynn Resorts from a neutral rating to an outperform rating and set a $117.00 target price for the company in a research note on Thursday, September 15th. Deutsche Bank Aktiengesellschaft cut their target price on Wynn Resorts from $92.00 to $85.00 and set a buy rating for the company in a research note on Wednesday, August 10th. Finally, Jefferies Financial Group upgraded Wynn Resorts from a hold rating to a buy rating in a research note on Monday, September 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $95.69.

Wynn Resorts Price Performance

Shares of Wynn Resorts stock opened at $75.36 on Monday. The stock has a fifty day moving average price of $66.30 and a 200-day moving average price of $63.17. Wynn Resorts has a 1 year low of $50.20 and a 1 year high of $96.50. The firm has a market cap of $8.54 billion, a PE ratio of -13.60 and a beta of 1.91.

Wynn Resorts (NASDAQ:WYNNGet Rating) last announced its quarterly earnings data on Wednesday, November 9th. The casino operator reported ($1.20) earnings per share for the quarter, hitting the consensus estimate of ($1.20). The firm had revenue of $889.70 million during the quarter, compared to analysts’ expectations of $867.42 million. During the same period last year, the business posted ($1.24) EPS. The company’s revenue was down 10.5% compared to the same quarter last year. As a group, equities analysts anticipate that Wynn Resorts will post -4.41 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Patricia Mulroy sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $66.14, for a total value of $132,280.00. Following the completion of the sale, the director now owns 6,781 shares in the company, valued at approximately $448,495.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.62% of the stock is currently owned by corporate insiders.

Institutional Trading of Wynn Resorts

A number of hedge funds have recently bought and sold shares of the company. First Horizon Advisors Inc. increased its stake in Wynn Resorts by 1,986.7% in the 1st quarter. First Horizon Advisors Inc. now owns 313 shares of the casino operator’s stock worth $25,000 after purchasing an additional 298 shares during the period. Sierra Capital LLC purchased a new position in Wynn Resorts in the 2nd quarter worth approximately $28,000. Mine & Arao Wealth Creation & Management LLC. purchased a new position in Wynn Resorts in the 2nd quarter worth approximately $28,000. NuWave Investment Management LLC purchased a new position in Wynn Resorts in the 2nd quarter worth approximately $29,000. Finally, Crewe Advisors LLC increased its stake in Wynn Resorts by 68.0% in the 2nd quarter. Crewe Advisors LLC now owns 504 shares of the casino operator’s stock worth $29,000 after purchasing an additional 204 shares during the period. Institutional investors own 64.69% of the company’s stock.

Wynn Resorts Company Profile

(Get Rating)

Wynn Resorts, Limited designs, develops, and operates integrated resorts. Its Wynn Palace segment operates 424,000 square feet of casino space with 323 table games, 1,035 slot machines, private gaming salons, and sky casinos; a luxury hotel tower with 1,706 guest rooms, suites, and villas, including a health club, spa, salon, and pool; 14 food and beverage outlets; 107,000 square feet of retail space; 37,000 square feet of meeting and convention space; and performance lake and floral art displays.

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Analyst Recommendations for Wynn Resorts (NASDAQ:WYNN)

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