Wynn Resorts Limited (WYNN) : Analyst Rating Update

Wynn Resorts Limited (WYNN) : The consensus on Wynn Resorts Limited (WYNN) based on 13 analyst recommendation on the company stock is 2.5, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 3 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 2 analyst believes that the stock is a Buy, which can produce decent returns in the future. 7 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 1 analyst sees the stock overvalued at current levels and advises a Strong Sell on the stock.

Wynn Resorts Limited (WYNN) : 11 investment research analysts covering Wynn Resorts Limited (WYNN) have an average price target of $97.36 for the near short term. The highest target price given by the Brokerage Firm to the stock is $119 and the lowest target is $65 for the short term. Analysts expect the variance to be within $14.69 of the average price.

Wynn Resorts Limited (NASDAQ:WYNN): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $88.56 and $87.26 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $90.07. The buying momentum continued till the end and the stock did not give up its gains. It closed at $89.93, notching a gain of 0.93% for the day. The total traded volume was 2,133,682 . The stock had closed at $89.10 on the previous day.

Also, In the latest statement by the brokerage house, CLSA downgrades its outlook on Wynn Resorts Limited (NASDAQ:WYNN). The current rating of the shares is Outperform, according to the research report released by the firm. Previously, the company had a rating of Buy. The brokerage firm raises the price target from $88 per share to $97 per share. The rating by the firm was issued on April 29, 2016. The company shares have dropped -14.44% from its 1 Year high price. On Jul 13, 2015, the shares registered one year high at $110.31 and the one year low was seen on Jan 14, 2016. The 50-Day Moving Average price is $96.04 and the 200 Day Moving Average price is recorded at $83.85.

Wynn Resorts, Limited is a developer, owner and operator of destination casino resorts which integrate accommodations and amenities, including fine dining, premium retail offerings, distinctive entertainment and convention facilities. The Company owns 72% of Wynn Macau, Limited, which operates an integrated resort in the Macau Special Administrative Region of the Peoples Republic of China (Macau). Wynn Resorts also owns 100% of and operates an integrated resort in Las Vegas, Nevada. The company operates through two segments: Macau Operations, which includes Wynn Macau and Encore at Wynn Maca, and Las Vegas Operations, which includes Wynn Las Vegas and Encore at Wynn Las Vegas. Its Macau Operations features approximately 284,000 square feet of casino space with 498 table games and 625 slot machines, two hotel towers and others. Its Las Vegas Operations features approximately 186,000 square feet of casino space with 232 table games, 1,849 slot machines, two hotel towers and others.

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