Deutsche Bank Aktiengesellschaft Issues Pessimistic Forecast for Wynn Resorts (NASDAQ:WYNN) Stock Price

Wynn Resorts (NASDAQ:WYNN) had its price objective lowered by equities research analysts at Deutsche Bank Aktiengesellschaft from $122.00 to $118.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the casino operator’s stock. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 38.30% from the company’s previous close.

Several other brokerages have also issued reports on WYNN. Wells Fargo & Company boosted their price objective on Wynn Resorts from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Barclays decreased their price objective on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a research report on Tuesday. StockNews.com lowered Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. decreased their price objective on Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Finally, Morgan Stanley upped their price target on Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $115.71.

Wynn Resorts Trading Down 1.6 %

Shares of NASDAQ:WYNN opened at $85.32 on Tuesday. The stock has a market capitalization of $9.47 billion, a P/E ratio of 10.54, a P/E/G ratio of 2.48 and a beta of 1.80. Wynn Resorts has a 1-year low of $71.63 and a 1-year high of $110.38. The business has a 50-day moving average price of $90.38 and a two-hundred day moving average price of $88.69.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.73 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 62.44%. The business’s revenue was up 1.3% compared to the same quarter last year. During the same period last year, the company earned $0.99 earnings per share. As a group, equities analysts predict that Wynn Resorts will post 5.42 EPS for the current year.

Insider Activity

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

Institutional Investors Weigh In On Wynn Resorts

Several large investors have recently made changes to their positions in WYNN. International Assets Investment Management LLC acquired a new stake in shares of Wynn Resorts in the 2nd quarter valued at approximately $25,000. Blue Trust Inc. raised its stake in Wynn Resorts by 556.0% in the 3rd quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after acquiring an additional 467 shares during the period. Versant Capital Management Inc bought a new stake in Wynn Resorts in the 2nd quarter valued at $51,000. Covestor Ltd raised its stake in Wynn Resorts by 421.7% in the 1st quarter. Covestor Ltd now owns 626 shares of the casino operator’s stock valued at $64,000 after acquiring an additional 506 shares during the period. Finally, GAMMA Investing LLC raised its stake in Wynn Resorts by 25.1% in the 2nd quarter. GAMMA Investing LLC now owns 828 shares of the casino operator’s stock valued at $74,000 after acquiring an additional 166 shares during the period. Institutional investors and hedge funds own 68.87% of the company’s stock.

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.