Wynn Resorts Limited (WYNN) is Downgraded by JP Morgan to Neutral, Lowers Price Target to $ 94

Wynn Resorts Limited (WYNN) was Downgraded by JP Morgan to ” Neutral” while Lowering the Price Target of the company shares to $ 94 from a previous price target of $101 . Earlier the firm had a rating of “Overweight ” on the company shares. JP Morgan advised their investors in a research report released on Jul 14, 2016.

Many Wall Street Analysts have commented on Wynn Resorts Limited. Shares were Reiterated by UBS on Jul 8, 2016 to “Buy” and Lowered the Price Target to $ 98 from a previous price target of $112 .Wynn Resorts Limited was Downgraded by Credit Agricole to ” Outperform” on Apr 29, 2016.

On the company’s financial health, Wynn Resorts Limited reported $1.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.25 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.82. The company had revenue of $1080.76 million for the quarter, compared to analysts expectations of $1002.05 million. The company’s revenue was down -8.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.70 EPS.

Wynn Resorts Limited closed down -1.62 points or -1.68% at $94.88 with 20,37,573 shares getting traded on Wednesday. Post opening the session at $96.48, the shares hit an intraday low of $93.97 and an intraday high of $96.48 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Feb 10, 2016, Family Limited Partnershi Wynn (CEO) purchased 258,523 shares at $58.48 per share price. According to the SEC, on Dec 8, 2015, Stephen A Wynn (CEO) purchased 1,003,977 shares at $63.63 per share price. On Oct 21, 2015, Ray R Irani (director) purchased 40,000 shares at $68.00 per share price, according to the Form-4 filing with the securities and exchange commission.

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 People’s 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 284000 square feet of casino space with 498 table games and 625 slot machines two hotel towers and others. Its Las Vegas Operations features approximately 186000 square feet of casino space with 232 table games 1849 slot machines two hotel towers and others.

Wynn Resorts Limited

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