Wynn Resorts Limited (WYNN) is Downgraded by Nomura to Reduce

Wynn Resorts Limited (WYNN) was Downgraded by Nomura to ” Reduce”. Earlier the firm had a rating of “Neutral ” on the company shares. Nomura advised their investors in a research report released on Jul 29, 2016.

Many Wall Street Analysts have commented on Wynn Resorts Limited. Company shares were Reiterated by Telsey Advisory Group on Jul 29, 2016 to “Outperform”, Firm has raised the Price Target to $ 115 from a previous price target of $112 .UBS Downgraded Wynn Resorts Limited on Jul 20, 2016 to ” Neutral”, Price Target of the shares are set at $98.Shares were Downgraded by JP Morgan on Jul 14, 2016 to ” Neutral” and Lowered the Price Target to $ 94 from a previous price target of $101 .

On the company’s financial health, Wynn Resorts Limited reported $1.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.96. The company had revenue of $1058.00 million for the quarter, compared to analysts expectations of $1034.75 million. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS.

Wynn Resorts Limited opened for trading at $102.52 and hit $104.91 on the upside on Thursday, eventually ending the session at $104.66, with a gain of 2.37% or 2.42 points. The heightened volatility saw the trading volume jump to 35,65,252 shares. Company has a market cap of $10,653 M.

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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