Wynn Resorts, Limited Stock Rating Upgraded by Barclays (WYNN)

The high-yield debt issue has a 5.25% coupon and is set to mature on October 15, 2021. Out of the 730 hedge funds that we track at Insider Monkey, 25 managers have invested $936.81 million in the gaming company against investments of $878.66 million three months earlier.

The target decrease is probably noticed by stock speculators, as NASDAQ:WYNN is now trading -2.89% lower at $104.16 as of 13:20 New York time.

Several other analysts have also recently commented on the stock.

Another research firm was Barclays who downgraded their Overweight rating to Equal-weight on May 15. Analysts at Credit Suisse upgraded shares of Wynn Resorts, Limited from a “neutral” rating to an “outperform” rating in a research note on Tuesday, July 7th. Analysts at Zacks upgraded shares of MGM Resorts global from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Wednesday, July 8th. Finally, analysts at Morgan Stanley reiterated an “underweight” rating on shares of Wynn Resorts, Limited in a research note on Thursday, June 18th. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The Company owns 72% of Wynn Macau, Limited, which operates an integrated resort in the Macau Special Administrative Region of the People’s Republic of China (Macau).

Wynn Macau, Limited is headquartered in Macau City, Macau. The 1-year stock price history is in the range of $93.59 – $220.5. The stock has a 50-day moving average of $102.87 and a 200-day moving average of $126.61. The company has a market cap of $10.34 billion and a P/E ratio of 12.44. The company reported $0.33 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.14 by $0.19. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter a year ago, the company posted $0.22 earnings per share.

McKnight is skeptical. “We expect additional color in the next few days, and continue forecasting July revenues down 30% to 32% year over year”. The shares could manage an average rating of 2.4 from 15 analysts. Wynn Resorts Limited’s stock is down -39.36% in the last 200 days. A total of 5,850 shares were purchased at a price of $115.4 per share. The purchase was disclosed in a filing with the SEC, which is available at this link. The Company operates in two segments: wholly owned domestic resorts and MGM China. Las Vegas Sands (LVS), Wynn Resorts (WYNN), Melco Crown (MPEL) and MGM Resorts (MGM) were trading higher.

But Macau Business said Alexis Tam Chong Weng, Macau’s secretary of social affairs and culture, told Macau’s Legislative Assembly the government might let casinos retain smoking rooms if the company can prove that its smoking rooms could protect employees and customers from harm by tobacco smoke.