The fourteen research firms monitoring Wynn Resorts, Limited (NASDAQ: WYNN) have given the stock an average rating of “Hold,” as reported by Bloomberg.com. There is one research analyst who thinks that the company ought to be bought, while five others think that it ought to be held. The average one-year price target brokerages provided for the preceding year was $94.92 per share.
Several experts specializing in equity research have provided their opinions regarding the company. The “hold” recommendation that Jefferies Financial Group had previously assigned to Wynn Resorts was changed to a “buy” in a research report published on Monday, September 26. Credit Suisse Group moved Wynn Resorts from a “neutral” rating to an “outperform” rating and set a price objective of $117.00 for the company in a research note published on Thursday, September 15. Citigroup increased its target price on Wynn Resorts stock from $87.50 to $91.00 and gave the company a “buy” rating in a research report published on Monday, September 26. The investment banking firm Deutsche Bank Aktiengesellschaft lowered their price objective on Wynn Resorts shares from $92.00 to $85.00. It accorded the company a “buy” rating in a research report published on Wednesday, August 10. Last but not least, in a research note that was published on Thursday, November 10, Wells Fargo & Company announced that they would be lowering their price objective on Wynn Resorts shares from $70.00 to $74.00 and that they would be maintaining their “equal weight” rating on the stock.
The NASDAQ: WYNN stock started the trading day at $75.57. The stock’s price has reached $65.80 on its fifty-day simple moving average, while it has reached $63.00 on its 200-day simple moving average. The firm’s market capitalization is currently sitting at $8.56 billion, the price-to-earnings ratio is -13.64, and the beta value sits at 1.91. The one-year low for Wynn Resorts is $50.20, while the one-year high for the company is $96.50.
On November 9, Wynn Resorts (NASDAQ: WYNN) disclosed the results of its most recent financial quarter. The earnings per share (EPS) for the quarter came in at $1.20, which was just in line with what the market anticipated. The sales for the quarter came in at $889.70 million, which was significantly more than the analysts’ prediction of $867.42 million. The revenue for the previous quarter at Wynn Resorts was down 10.5% compared to the previous year. The company had a net income of $1.24 per share during the previous year. According to the forecasts of industry experts, Wynn Resorts will rake in a loss of -4.42 cents per share during the current financial year.
In other developments about this topic, director Patricia Mulroy disposed of 2,000 of the company’s shares of stock on Monday, September 19. At an average price of $66.14, the shares could fetch a total of $132,280.00 when sold. After the completion of the transaction, the director will have direct ownership of 6,781 shares of the company’s stock, which have a value of about 448,495.34 dollars. The transaction was disclosed in a legal filing submitted to the Securities and Exchange Commission (SEC), and that filing can be located on the website of the SEC. The current percentage of the company’s stock owned by company insiders is 0.62%.
Wynn has recently had several significant institutional investors change their stakes in the company. The investment firm Mutual of America Capital Management LLC boosted the percentage of Wynn Resorts, which is currently invested by 1.1% during the first quarter. After purchasing 147 more shares during the most recent quarter, Mutual of America Capital Management LLC now has 13,893 shares of the casino operator’s stock, worth $1,108,000. Through the third quarter, Captrust Financial Advisors raised the percentage of Wynn Resorts stock owned by 3.6%. After making 147 additional stock purchases throughout the period, Captrust Financial Advisors now own 4,240 shares of the casino operator’s stock, worth $267,000. The percentage of Wynn Resorts in which Belpointe Asset Management LLC has a position climbed by 3.3% during the third quarter. As a result of the acquisition of an additional 150 shares during the most recent fiscal quarter, Belpointe Asset Management LLC currently possesses 4,664 shares of the casino operator’s stock, which have a combined worth of $294,000. The investment firm Janney Montgomery Scott LLC boosted its holdings in Wynn Resorts by 0.5 percent during the second quarter. Janney Montgomery Scott LLC now owns 35,285 shares of the casino operator’s stock, valued at $2,100,000 following the acquisition of an additional 162 shares during the period in question.
Last but not least, Royal London Asset Management Ltd. boosted the percentage of Wynn Resorts stock owned by 0.4% during the third quarter. Following the acquisition of 176 more shares during the most recent fiscal quarter, Royal London Asset Management Ltd. now has 39,493 shares of the casino operator’s stock, which has a market value of $2,489,000. Hedge funds and other institutional investors own 64.69% of the company’s stock.
Wynn Resorts Limited is a firm that specializes in the creation of integrated resorts as well as their management. The Wynn Palace division of the company manages a luxury hotel tower that has 1,706 guest rooms, suites, and villas, in addition to 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 floral art displays.