Stifel Nicolaus Cuts Wynn Resorts (WYNN) Price Target to $138.00

Wynn Resorts (NASDAQ:WYNN) had its price objective reduced by equities researchers at Stifel Nicolaus from $192.00 to $138.00 in a report issued on Thursday, The Fly reports. The brokerage presently has a “buy” rating on the casino operator’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 40.36% from the company’s previous close.

A number of other research analysts have also recently commented on the company. Morgan Stanley reduced their price objective on Wynn Resorts from $139.00 to $130.00 and set a “hold” rating on the stock in a research note on Thursday. Credit Suisse Group reduced their price objective on Wynn Resorts from $119.00 to $104.00 and set a “neutral” rating on the stock in a research note on Thursday. Telsey Advisory Group reduced their price objective on Wynn Resorts from $160.00 to $105.00 and set a “market perform” rating on the stock in a research note on Thursday. Bank of America reduced their price objective on Wynn Resorts from $125.00 to $114.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, BidaskClub cut Wynn Resorts from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 29th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $168.11.

Shares of WYNN opened at $98.32 on Thursday. The stock has a market cap of $11.92 billion, a price-to-earnings ratio of 18.01, a P/E/G ratio of 0.75 and a beta of 1.56. Wynn Resorts has a 12 month low of $92.50 and a 12 month high of $203.63. The company has a debt-to-equity ratio of 4.47, a quick ratio of 1.04 and a current ratio of 1.08.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Wednesday, November 7th. The casino operator reported $1.68 EPS for the quarter, missing the Zacks’ consensus estimate of $1.69 by ($0.01). The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.67 billion. Wynn Resorts had a return on equity of 69.17% and a net margin of 7.90%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.52 EPS. As a group, equities research analysts predict that Wynn Resorts will post 7.35 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in WYNN. Steward Partners Investment Advisory LLC increased its position in shares of Wynn Resorts by 115.4% during the second quarter. Steward Partners Investment Advisory LLC now owns 614 shares of the casino operator’s stock worth $103,000 after acquiring an additional 329 shares during the last quarter. North Star Investment Management Corp. purchased a new stake in shares of Wynn Resorts during the second quarter worth about $122,000. Atlas Capital Advisors LLC purchased a new stake in shares of Wynn Resorts during the second quarter worth about $130,000. Dupont Capital Management Corp increased its position in shares of Wynn Resorts by 87.9% during the second quarter. Dupont Capital Management Corp now owns 823 shares of the casino operator’s stock worth $138,000 after acquiring an additional 385 shares during the last quarter. Finally, Whittier Trust Co. increased its holdings in Wynn Resorts by 157.5% in the second quarter. Whittier Trust Co. now owns 811 shares of the casino operator’s stock valued at $169,000 after buying an additional 496 shares during the last quarter. 75.23% of the stock is currently owned by institutional investors and hedge funds.

Wynn Resorts Company Profile

Wynn Resorts, Limited owns and operates destination casino resorts. As of February 15, 2018, the company's Wynn Macau segment had approximately 273,000 square feet of casino space, which offered 316 table games and 988 slot machines, private gaming salons, sky casinos, and a poker pit; 2 luxury hotel towers with 1,008 guest rooms and suites; 8 food and beverage outlets; 59,000 square feet of retail space; 31,000 square feet of meeting and convention space; recreation and leisure facilities comprising 2 health clubs, spas, a salon, and a pool; and a rotunda show, a Chinese zodiac-inspired ceiling.

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