Wynn Resorts (NASDAQ:WYNN) Price Target Cut to $103.00 by Analysts at Stifel Nicolaus

Wynn Resorts (NASDAQ:WYNN) had its target price dropped by equities researchers at Stifel Nicolaus from $121.00 to $103.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the casino operator’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 33.44% from the company’s current price.

A number of other research analysts have also recently commented on the stock. Argus upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a report on Thursday, May 23rd. Wells Fargo & Company decreased their price target on shares of Wynn Resorts from $126.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Wynn Resorts from $131.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. JPMorgan Chase & Co. cut their target price on shares of Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Finally, UBS Group raised shares of Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Wynn Resorts currently has an average rating of “Moderate Buy” and an average target price of $113.73.

Wynn Resorts Price Performance

WYNN traded up $0.93 during trading on Friday, hitting $77.19. 82,323 shares of the stock traded hands, compared to its average volume of 1,913,152. The firm has a market capitalization of $8.57 billion, a P/E ratio of 10.61, a price-to-earnings-growth ratio of 1.70 and a beta of 1.80. The firm has a 50-day moving average of $79.03 and a 200 day moving average of $90.70. Wynn Resorts has a 12-month low of $71.63 and a 12-month high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Tuesday, August 6th. The casino operator reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the prior year, the business posted $0.91 earnings per share. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, equities analysts predict that Wynn Resorts will post 5.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in Wynn Resorts during the 2nd quarter worth about $25,000. ICA Group Wealth Management LLC purchased a new position in Wynn Resorts during the 4th quarter valued at about $27,000. Register Financial Advisors LLC purchased a new stake in Wynn Resorts in the 1st quarter worth approximately $37,000. Neo Ivy Capital Management bought a new stake in Wynn Resorts during the fourth quarter valued at $40,000. Finally, Versant Capital Management Inc bought a new position in shares of Wynn Resorts in the second quarter worth approximately $51,000. 68.87% of the stock is currently owned by institutional investors.

About Wynn Resorts

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.