JPMorgan Chase & Co. cut price target on Wynn Resorts (NASDAQ:WYNN) to $101.00

VaselineAugust 9, 2024

0 3 minutes read

Wynn Resorts (NASDAQ:WYNN – Get Free Report) The price target was cut by investment analysts at JPMorgan Chase & Co. from $110.00 to $101.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the casino operator’s stock. JPMorgan Chase & Co.’s price objective. suggests a potential upside of 31.77% from the company’s current price.

Other equities research analysts have recently issued reports on the company. Seaport Res Ptn upgraded Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 30th. Citigroup boosted their price target on Wynn Resorts from $132.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. StockNews.com raised Wynn Resorts from a “hold” rating to a “buy” rating in a report on Thursday, July 18th. Morgan Stanley cut their price target on Wynn Resorts from $115.00 to $107.00 and set an “equal weight” rating on the stock in a report on Friday, July 12th. Finally, Wells Fargo & Company cut their price target on Wynn Resorts from $126.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday. Five investment 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. The stock presently has an average rating of “Moderate Buy” and a consensus price target of $116.73, based on data from MarketBeat.com.

Check out the latest stock report on Wynn Resorts

Wynn Resorts stock performance

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Shares of WYNN stock opened at $76.65 on Wednesday. The stock has a market cap of $8.59 billion, a price-to-earnings ratio of 10.50 and a beta of 1.82. Wynn Resorts has a 1 year low of $71.63 and a 1 year high of $110.38. The stock’s fifty day moving average is $86.08 and its two hundred day moving average is $94.88.

Wynn Resorts (NASDAQ:WYNN – Get Your Free Report ) last posted its earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a net margin of 12.22% and a negative return on equity of 50.07%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. In the same quarter last year, the business posted earnings of $0.91 per share. As a group, analysts predict that Wynn Resorts will post 5.62 EPS for the current fiscal year.

Insider buying and selling

In other Wynn Resorts news, Director Betsy S. Atkins sold 2,446 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $94.39, for a total transaction of $230,877.94. Following the completion of the sale, the director now directly owns 9,226 shares in the company, valued at approximately $870,842.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.52% of shares are currently owned by company insiders.

Institutional investors are weighing in on Wynn Resorts

Institutional investors have recently bought and sold shares of the business. Sei Investments Co. boosted its position in Wynn Resorts by 5.6% in the first quarter. Sei Investments Co. now owns 139,038 shares of the casino operator’s stock worth $14,214,000 after acquiring an additional 7,380 shares during the period. Concord Investment Counsel Inc. purchased a new stake in Wynn Resorts in the 1st quarter worth about $2,461,000. CIBC Private Wealth Group LLC purchased a new stake in Wynn Resorts in the 4th quarter valued at approximately $1,376,000. UniSuper Management Pty Ltd boosted its position in Wynn Resorts by 540.6% in the first quarter. UniSuper Management Pty Ltd now owns 10,179 shares of the casino operator’s stock worth $1,041,000 after acquiring an additional 8,590 shares during the period. Finally, Vanguard Group Inc. boosted its position in Wynn Resorts by 1.5% in the first quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock worth $1,127,456,000 after acquiring an additional 166,594 shares during the period. 68.87% of the shares are currently owned by institutional investors and hedge funds.

Wynn Resorts Company Profile

(Get a free report)

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 lounges and sky casinos; a luxury hotel tower with apartments and villas, including a health club, spa, salon and swimming pool; food and drink stores; retail space; space for meetings and conventions; and floral art and performance lacquer shows.