Wynn Resorts (WYNN) Earns Neutral Rating from Bank of America

Bank of America reiterated their neutral rating on shares of Wynn Resorts (NASDAQ:WYNN) in a report issued on Wednesday morning, Briefing.com Automated Import reports. Bank of America currently has a $150.00 target price on the casino operator’s stock, up from their prior target price of $145.00.

A number of other equities research analysts have also recently weighed in on WYNN. BidaskClub raised Wynn Resorts from a sell rating to a hold rating in a report on Tuesday, December 18th. Deutsche Bank raised their price target on Wynn Resorts from $123.00 to $130.00 and gave the company a buy rating in a report on Monday, January 7th. Zacks Investment Research raised Wynn Resorts from a strong sell rating to a buy rating and set a $123.00 price target for the company in a report on Saturday, January 12th. Stifel Nicolaus raised their price target on Wynn Resorts from $138.00 to $141.00 and gave the company a buy rating in a report on Wednesday, January 16th. Finally, ValuEngine upgraded Wynn Resorts from a sell rating to a hold rating in a research report on Tuesday, January 29th. Nine investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $150.35.

WYNN stock opened at $142.44 on Wednesday. Wynn Resorts has a fifty-two week low of $90.06 and a fifty-two week high of $202.48. The firm has a market cap of $15.33 billion, a P/E ratio of 21.78, a price-to-earnings-growth ratio of 2.25 and a beta of 1.68. The company has a quick ratio of 1.37, a current ratio of 1.40 and a debt-to-equity ratio of 5.19.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Wednesday, January 30th. The casino operator reported $1.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.36 by ($0.30). Wynn Resorts had a net margin of 8.70% and a return on equity of 47.05%. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period in the prior year, the business earned $1.40 earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, equities research analysts expect that Wynn Resorts will post 6.3 EPS for the current fiscal year.

In other news, Director Patricia Mulroy sold 425 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $118.02, for a total value of $50,158.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Matt Maddox sold 18,900 shares of the firm’s stock in a transaction on Monday, February 4th. The stock was sold at an average price of $124.15, for a total value of $2,346,435.00. Following the completion of the transaction, the chief executive officer now owns 487,399 shares in the company, valued at $60,510,585.85. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the company. Parallel Advisors LLC boosted its position in shares of Wynn Resorts by 84.2% in the 4th quarter. Parallel Advisors LLC now owns 256 shares of the casino operator’s stock worth $25,000 after purchasing an additional 117 shares during the last quarter. JOYN Advisors Inc. boosted its position in shares of Wynn Resorts by 1,680.0% in the 4th quarter. JOYN Advisors Inc. now owns 267 shares of the casino operator’s stock worth $26,000 after purchasing an additional 252 shares during the last quarter. Somerset Trust Co boosted its position in shares of Wynn Resorts by 152.7% in the 1st quarter. Somerset Trust Co now owns 369 shares of the casino operator’s stock worth $44,000 after purchasing an additional 223 shares during the last quarter. First Hawaiian Bank boosted its position in shares of Wynn Resorts by 295.0% in the 1st quarter. First Hawaiian Bank now owns 395 shares of the casino operator’s stock worth $47,000 after purchasing an additional 295 shares during the last quarter. Finally, AdvisorNet Financial Inc boosted its position in shares of Wynn Resorts by 47.1% in the 4th quarter. AdvisorNet Financial Inc now owns 456 shares of the casino operator’s stock worth $45,000 after purchasing an additional 146 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Wynn Resorts Company Profile

Wynn Resorts, Limited owns and operates destination casino resorts. As of February 20, 2019, the company's Wynn Palace segment had approximately 424,000 square feet of casino space, which offered 320 table games and 1,041 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas; 13 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities comprising a gondola ride, health club, spa, salon, and pool; and public attractions, such as performance lake and floral art displays.

Further Reading: Convertible Shares

Analyst Recommendations for Wynn Resorts (NASDAQ:WYNN)

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