Wynn Resorts (NASDAQ:WYNN) PT Raised to $135.00

Wynn Resorts (NASDAQ:WYNN – Get Rating) had its price target upped by research analysts at Jefferies Financial Group from $130.00 to $135.00 in a research note issued on Monday, The Fly reports. Jefferies Financial Group’s price objective suggests a potential upside of 24.62% from the stock’s current price. Jefferies Financial Group also issued estimates for Wynn Resorts’ Q2 2023 earnings at $0.67 EPS, Q3 2023 earnings at $0.91 EPS, Q4 2023 earnings at $1.44 EPS, FY2023 earnings at $3.34 EPS and FY2024 earnings at $6.72 EPS.

Several other research firms have also recently commented on WYNN. Bank of America boosted their target price on Wynn Resorts from $85.00 to $90.00 in a research report on Wednesday, January 4th. Credit Suisse Group upped their price objective on Wynn Resorts from $117.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, February 9th. Deutsche Bank Aktiengesellschaft upped their price objective on Wynn Resorts from $106.00 to $128.00 in a report on Thursday, February 9th. Wells Fargo & Company upped their price objective on Wynn Resorts from $101.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, January 26th. Finally, StockNews.com upgraded Wynn Resorts from a “sell” rating to a “hold” rating in a report on Saturday. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $107.64.

Wynn Resorts Stock Up 2.0 %

Wynn Resorts stock opened at $108.33 on Monday. Wynn Resorts has a 52 week low of $50.20 and a 52 week high of $116.50. The business has a 50-day simple moving average of $103.77 and a 200 day simple moving average of $82.16. The stock has a market cap of $12.32 billion, a price-to-earnings ratio of -29.20 and a beta of 2.01.

Wynn Resorts (NASDAQ:WYNN – Get Rating) last posted its earnings results on Wednesday, February 8th. The casino operator reported ($1.23) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.06). The company had revenue of $1 billion during the quarter, compared to analyst estimates of $955.88 million. During the same period last year, the firm posted ($1.37) EPS. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. On average, research analysts anticipate that Wynn Resorts will post 0.85 earnings per share for the current year.

Insider Activity

In other news, CFO Julie Cameron-Doe sold 4,000 shares of the business’s stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $108.08, for a total value of $432,320.00. Following the completion of the sale, the chief financial officer now owns 65,970 shares of the company’s stock, valued at approximately $7,130,037.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Wynn Resorts news, EVP Ellen F. Whittemore sold 10,383 shares of the company’s stock in a transaction that occurred on Friday, February 10th. The stock was sold at an average price of $109.48, for a total transaction of $1,136,730.84. Following the completion of the transaction, the executive vice president now owns 71,342 shares of the company’s stock, valued at approximately $7,810,522.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Julie Cameron-Doe sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $108.08, for a total value of $432,320.00. Following the transaction, the chief financial officer now directly owns 65,970 shares of the company’s stock, valued at approximately $7,130,037.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,693 shares of company stock valued at $2,624,279. Insiders own 0.62% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WYNN. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Wynn Resorts by 4.8% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 61,023 shares of the casino operator’s stock worth $3,846,000 after acquiring an additional 2,809 shares in the last quarter. Barclays PLC raised its position in shares of Wynn Resorts by 383.5% in the 3rd quarter. Barclays PLC now owns 542,150 shares of the casino operator’s stock worth $34,173,000 after acquiring an additional 430,030 shares in the last quarter. WINTON GROUP Ltd bought a new position in shares of Wynn Resorts in the 2nd quarter worth approximately $431,000. First Republic Investment Management Inc. raised its position in shares of Wynn Resorts by 622.8% in the 3rd quarter. First Republic Investment Management Inc. now owns 66,669 shares of the casino operator’s stock worth $4,202,000 after acquiring an additional 57,445 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Wynn Resorts by 14.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,537 shares of the casino operator’s stock worth $2,177,000 after acquiring an additional 4,260 shares in the last quarter. Institutional investors own 70.95% of the company’s stock.

About Wynn Resorts

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Wynn Resorts Ltd. is a holding company, which engages in the design, development, and operation of destination casino resorts. It operates through the following segments: Wynn Palace, Wynn Macau, Las Vegas Operations, Wynn Interactive and Encore Boston Harbor. The company was founded by Stephen Alan Wynn, Elaine P.