JPMorgan Chase & Co. Issues Positive Forecast for Wynn Resorts (NASDAQ:WYNN) Stock Price

Wynn Resorts (NASDAQ:WYNN - Get Free Report) had its price objective increased by investment analysts at JPMorgan Chase & Co. from $101.00 to $113.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an "overweight" rating on the casino operator's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 30.30% from the company's previous close.

Several other equities analysts have also weighed in on WYNN. Susquehanna boosted their target price on shares of Wynn Resorts from $92.00 to $122.00 and gave the company a "positive" rating in a report on Friday, October 11th. Barclays cut their price objective on shares of Wynn Resorts from $125.00 to $119.00 and set an "overweight" rating for the company in a research report on Tuesday. Macquarie restated an "outperform" rating and set a $126.00 target price on shares of Wynn Resorts in a report on Wednesday, August 7th. Jefferies Financial Group decreased their price target on shares of Wynn Resorts from $111.00 to $96.00 and set a "hold" rating on the stock in a research note on Thursday, July 11th. Finally, UBS Group upgraded shares of Wynn Resorts to a "hold" rating in a report on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $115.71.

Wynn Resorts Stock Performance

Shares of Wynn Resorts stock traded down $8.93 during trading on Tuesday, hitting $86.72. 10,671,825 shares of the company's stock were exchanged, compared to its average volume of 2,155,033. The business has a 50-day simple moving average of $90.19 and a 200-day simple moving average of $88.75. Wynn Resorts has a 52-week low of $71.63 and a 52-week high of $110.38. The stock has a market capitalization of $9.63 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 2.48 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The firm had revenue of $1.69 billion during the quarter, compared to analysts' expectations of $1.73 billion. During the same period in the previous year, the firm posted $0.99 EPS. The firm's quarterly revenue was up 1.3% on a year-over-year basis. On average, equities analysts anticipate that Wynn Resorts will post 5.42 earnings per share for the current fiscal year.

Insider Activity at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,650 shares of the company's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the transaction, the director now directly owns 5,689 shares in the company, valued at $447,894.97. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.52% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of WYNN. Interval Partners LP increased its position in Wynn Resorts by 999.0% in the first quarter. Interval Partners LP now owns 400,911 shares of the casino operator's stock worth $40,985,000 after purchasing an additional 364,432 shares during the period. Renaissance Technologies LLC grew its position in shares of Wynn Resorts by 29.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator's stock valued at $120,386,000 after purchasing an additional 303,033 shares during the period. Sequoia Financial Advisors LLC lifted its stake in Wynn Resorts by 6,720.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 257,537 shares of the casino operator's stock valued at $23,050,000 after acquiring an additional 253,761 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Wynn Resorts by 22.2% in the 1st quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator's stock valued at $115,082,000 after acquiring an additional 204,852 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Wynn Resorts by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator's stock valued at $1,127,456,000 after acquiring an additional 166,594 shares in the last quarter. 68.87% of the stock is currently owned by institutional investors and hedge funds.

Wynn Resorts Company Profile

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.