Trade Report: The Credit Agricole SA Reiterates Underperform Rating for Wynn Resorts Ltd. (WYNN)

The Credit Agricole SA Reiterates Underperform Rating for Wynn Resorts Ltd. (WYNN)

Wynn Resorts Ltd. (NASDAQ:WYNN)‘s stock had its “underperform” rating restated by stock analysts at Credit Agricole SA in a research report issued on Friday.

Several other analysts also recently commented on WYNN. Deutsche Bank AG reaffirmed a “hold” rating on shares of Wynn Resorts in a research note on Sunday, June 26th. Vetr raised Wynn Resorts from a “sell” rating to a “buy” rating and set a $96.42 price objective for the company in a research note on Tuesday, June 28th. Morgan Stanley reaffirmed an “overweight” rating on shares of Wynn Resorts in a research note on Wednesday, June 29th. Zacks Investment Research raised Wynn Resorts from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a research note on Thursday, June 30th. Finally, JPMorgan Chase & Co. downgraded Wynn Resorts from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $101.00 to $94.00 in a research note on Thursday, July 14th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $101.85.

Shares of Wynn Resorts (NASDAQ:WYNN) opened at 94.95 on Friday. The firm has a market capitalization of $9.63 billion, a price-to-earnings ratio of 29.38 and a beta of 1.85. Wynn Resorts has a 52 week low of $49.95 and a 52 week high of $109.50. The stock has a 50 day moving average price of $98.34 and a 200-day moving average price of $96.33.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Thursday, July 28th. The casino operator reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.16. The firm earned $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Wynn Resorts had a return on equity of 3,746.24% and a net margin of 7.67%. The business’s revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.74 EPS. On average, analysts anticipate that Wynn Resorts will post $3.77 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc raised its position in shares of Wynn Resorts by 44.1% in the first quarter. IFP Advisors Inc now owns 1,069 shares of the casino operator’s stock worth $100,000 after buying an additional 327 shares in the last quarter. TLP Group LLC bought a new position in shares of Wynn Resorts during the second quarter worth approximately $114,000. Mizuho Asset Management Co. Ltd. raised its position in shares of Wynn Resorts by 176.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,266 shares of the casino operator’s stock worth $115,000 after buying an additional 808 shares in the last quarter. Advisory Services Network LLC raised its position in shares of Wynn Resorts by 171.8% in the third quarter. Advisory Services Network LLC now owns 1,582 shares of the casino operator’s stock worth $154,000 after buying an additional 1,000 shares in the last quarter. Finally, Krilogy Financial LLC raised its position in shares of Wynn Resorts by 57.8% in the second quarter. Krilogy Financial LLC now owns 1,775 shares of the casino operator’s stock worth $161,000 after buying an additional 650 shares in the last quarter. 74.48% of the stock is owned by institutional investors and hedge funds.

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