Citigroup downgraded shares of Wynn Resorts (NASDAQ:WYNN) from a buy rating to a neutral rating in a research report sent to investors on Wednesday morning, The Fly reports. The firm currently has $140.00 price target on the casino operator’s stock.
Other analysts also recently issued reports about the stock. Deutsche Bank increased their price target on shares of Wynn Resorts from $144.00 to $150.00 and gave the company a buy rating in a research report on Monday, December 16th. ValuEngine upgraded shares of Wynn Resorts from a sell rating to a hold rating in a research report on Monday, November 25th. JPMorgan Chase & Co. increased their price target on shares of Wynn Resorts from $136.00 to $143.00 and gave the company an overweight rating in a research report on Thursday, November 7th. Union Gaming Research downgraded shares of Wynn Resorts from a buy rating to a hold rating and cut their price target for the company from $150.00 to $135.00 in a research report on Thursday, November 7th. Finally, Barclays cut their price target on shares of Wynn Resorts from $157.00 to $150.00 and set an overweight rating on the stock in a research report on Thursday, September 12th. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Wynn Resorts has an average rating of Buy and an average target price of $139.50.
Wynn Resorts stock traded up $0.86 during trading hours on Wednesday, reaching $143.01. 2,164,475 shares of the company’s stock traded hands, compared to its average volume of 1,956,800. The company has a debt-to-equity ratio of 5.75, a quick ratio of 1.05 and a current ratio of 1.09. Wynn Resorts has a fifty-two week low of $102.03 and a fifty-two week high of $151.50. The firm has a market capitalization of $15.26 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 2.67 and a beta of 2.08. The firm’s 50 day moving average is $131.27 and its 200-day moving average is $121.64.
Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Wednesday, November 6th. The casino operator reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.73). Wynn Resorts had a net margin of 10.12% and a return on equity of 25.33%. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the previous year, the company posted $1.68 earnings per share. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. Analysts predict that Wynn Resorts will post 4.13 EPS for the current year.
In other Wynn Resorts news, CEO Matt Maddox sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $122.47, for a total transaction of $3,061,750.00. Following the sale, the chief executive officer now directly owns 407,107 shares in the company, valued at approximately $49,858,394.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Craig Scott Billings sold 3,750 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $119.85, for a total transaction of $449,437.50. Following the sale, the chief financial officer now owns 66,451 shares in the company, valued at $7,964,152.35. The disclosure for this sale can be found here. Insiders have sold a total of 53,750 shares of company stock worth $6,515,688 over the last 90 days. Corporate insiders own 0.58% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Point72 Hong Kong Ltd bought a new position in shares of Wynn Resorts during the 2nd quarter worth approximately $31,000. Lenox Wealth Advisors LLC bought a new position in shares of Wynn Resorts during the 3rd quarter worth approximately $35,000. Howe & Rusling Inc. bought a new position in shares of Wynn Resorts during the 3rd quarter worth approximately $48,000. CSat Investment Advisory L.P. grew its stake in shares of Wynn Resorts by 128.8% during the 2nd quarter. CSat Investment Advisory L.P. now owns 476 shares of the casino operator’s stock worth $60,000 after acquiring an additional 268 shares in the last quarter. Finally, Intercontinental Wealth Advisors LLC bought a new position in shares of Wynn Resorts during the 3rd quarter worth approximately $77,000. 72.88% of the stock is owned by institutional investors.
About Wynn Resorts
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.
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