Wynn Resorts (WYNN) Lifted to “Buy” at Nomura

Wynn Resorts (NASDAQ:WYNN) was upgraded by research analysts at Nomura from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday, Marketbeat.com reports. The brokerage currently has a $211.00 target price on the casino operator’s stock, up from their prior target price of $175.00. Nomura’s price target would suggest a potential upside of 24.65% from the stock’s current price.

WYNN has been the subject of several other reports. Deutsche Bank restated a “buy” rating and issued a $167.00 price target on shares of Wynn Resorts in a research note on Tuesday, November 21st. Morgan Stanley upped their price target on Wynn Resorts from $151.00 to $158.00 and gave the stock an “overweight” rating in a research note on Friday, October 13th. Goldman Sachs Group upgraded Wynn Resorts from a “sell” rating to a “neutral” rating in a research note on Sunday, February 4th. Citigroup set a $228.00 price target on Wynn Resorts and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Finally, Jefferies Group initiated coverage on Wynn Resorts in a research note on Thursday, January 18th. They issued a “buy” rating and a $202.00 price target for the company. Nine investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Wynn Resorts presently has a consensus rating of “Buy” and a consensus target price of $179.62.

Wynn Resorts (NASDAQ:WYNN) opened at $169.28 on Wednesday. Wynn Resorts has a 52 week low of $92.67 and a 52 week high of $203.63. The company has a quick ratio of 1.68, a current ratio of 1.72 and a debt-to-equity ratio of 24.54. The firm has a market capitalization of $17,400.00, a P/E ratio of 23.28 and a beta of 1.59.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Monday, January 22nd. The casino operator reported $1.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.07. Wynn Resorts had a return on equity of 148.17% and a net margin of 11.85%. The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the prior year, the company posted $0.50 EPS. The firm’s revenue for the quarter was up 29.9% compared to the same quarter last year. equities analysts anticipate that Wynn Resorts will post 7.62 earnings per share for the current fiscal year.

In other news, President Matt Maddox sold 59,260 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $155.12, for a total transaction of $9,192,411.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 13.20% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. raised its holdings in Wynn Resorts by 0.4% during the 2nd quarter. Sunbelt Securities Inc. now owns 2,050 shares of the casino operator’s stock valued at $275,000 after buying an additional 8 shares during the period. Cookson Peirce & Co. Inc. raised its holdings in Wynn Resorts by 1.3% during the 2nd quarter. Cookson Peirce & Co. Inc. now owns 3,230 shares of the casino operator’s stock valued at $433,000 after buying an additional 40 shares during the period. Thrivent Financial For Lutherans raised its holdings in Wynn Resorts by 4.1% during the 2nd quarter. Thrivent Financial For Lutherans now owns 3,030 shares of the casino operator’s stock valued at $406,000 after buying an additional 120 shares during the period. Sentry Investment Management LLC raised its holdings in Wynn Resorts by 4.2% during the 2nd quarter. Sentry Investment Management LLC now owns 5,940 shares of the casino operator’s stock valued at $797,000 after buying an additional 237 shares during the period. Finally, Cibc Bank USA raised its holdings in Wynn Resorts by 1.3% during the 4th quarter. Cibc Bank USA now owns 22,615 shares of the casino operator’s stock valued at $3,813,000 after buying an additional 295 shares during the period. Institutional investors own 72.27% of the company’s stock.

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About Wynn Resorts

Wynn Resorts, Limited (Wynn Resorts) is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company’s segments include Macau Operations and Las Vegas Operations.

Analyst Recommendations for Wynn Resorts (NASDAQ:WYNN)

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