Credit Suisse analyst Benjamin Chaiken maintained a Hold rating on Wynn Resorts (WYNN) yesterday and set a price target of $72.00. The company’s shares closed last Wednesday at $72.02.
According to TipRanks.com, Chaiken is a 4-star analyst with an average return of 16.5% and a 73.3% success rate. Chaiken covers the Services sector, focusing on stocks such as International Game Technology, Norwegian Cruise Line, and Wyndham Destinations.
Currently, the analyst consensus on Wynn Resorts is a Moderate Buy with an average price target of $95.00, implying a 30.0% upside from current levels. In a report issued on July 20, Morgan Stanley also maintained a Hold rating on the stock with a $91.00 price target.
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Based on Wynn Resorts’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $954 million and GAAP net loss of $402 million. In comparison, last year the company earned revenue of $1.65 billion and had a net profit of $105 million.
Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of WYNN in relation to earlier this year.
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Wynn Resorts Ltd. operates as a holding company, which engages in the development, ownership and operation of destination casino resorts. It operates through the following segments: Wynn Macau, Wynn Palace and Las Vegas Operations. The Las Vegas Operations segment covers Wynn Las Vegas and Encore. The company was founded by Stephen Alan Wynn, Elaine P. Wynn and Kazuo Okada in 2002 and is headquartered in Las Vegas, NV.
