Morgan Stanley slashes price target on Wynn Resorts Limited [WYNN] – find out why.

Wynn Resorts Limited [NASDAQ: WYNN] loss -1.92% or -2.18 points to close at $111.32 with a heavy trading volume of 3722423 shares. The company report on November 6, 2020 that Wynn Resorts, Limited Reports Third Quarter 2020 Results.

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Wynn Resorts, Limited (NASDAQ: WYNN) (the “Company”) reported financial results for the quarter ended September 30, 2020.

Operating revenues were $370.5 million for the third quarter of 2020, a decrease of 77.5%, or $1.28 billion, from $1.65 billion for the third quarter of 2019. Net loss attributable to Wynn Resorts, Limited was $758.1 million, or $7.10 per diluted share, for the third quarter of 2020, compared to net loss attributable to Wynn Resorts, Limited of $3.5 million, or $0.03 per diluted share, in the third quarter of 2019. Net loss attributable to Wynn Resorts, Limited for the third quarter of 2020 reflects a provision for income taxes of $407.4 million, primarily related to an increase in the valuation allowance against deferred tax assets no longer expected to be realized. Adjusted Property EBITDA (1) was $(65.9) million for the third quarter of 2020, compared to Adjusted Property EBITDA of $396.9 million in the third quarter of 2019.

It opened the trading session at $112.76, the shares rose to $112.94 and dropped to $109.52, the range by which the price of stock traded the whole day. The daily chart for WYNN points out that the company has recorded 8.33% gains over the past six months. However, it is still -210.6% lower than its most recent low trading price.

If we look at the average trading volume of 3.85M shares, WYNN reached to a volume of 3722423 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Wynn Resorts Limited [WYNN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WYNN shares is $97.31 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WYNN stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Morgan Stanley have made an estimate for Wynn Resorts Limited shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on November 02, 2020. While these analysts kept the previous recommendation, Jefferies raised their target price from $111 to $81. The new note on the price target was released on October 16, 2020, representing the official price target for Wynn Resorts Limited stock. Previously, the target price had yet another drop from $99 to $75, while ROTH Capital kept a Neutral rating on WYNN stock.

The Average True Range (ATR) for Wynn Resorts Limited is set at 5.11, with the Price to Sales ratio for WYNN stock in the period of the last 12 months amounting to 3.75.

Trading performance analysis for WYNN stock

Wynn Resorts Limited [WYNN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.77. With this latest performance, WYNN shares gained by 38.92% in over the last four-week period, additionally plugging by 8.33% over the last 6 months – not to mention a drop of -8.51% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WYNN stock in for the last two-week period is set at 70.05, with the RSI for the last a single of trading hit 72.54, and the three-weeks RSI is set at 67.65 for Wynn Resorts Limited [WYNN]. The present Moving Average for the last 50 days of trading for this stock 83.92, while it was recorded at 108.16 for the last single week of trading, and 80.77 for the last 200 days.

Wynn Resorts Limited [WYNN]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Wynn Resorts Limited [WYNN] shares currently have an operating margin of +14.83 and a Gross Margin at +29.03. Wynn Resorts Limited’s Net Margin is presently recorded at +1.86.

Return on Total Capital for WYNN is now 8.39, given the latest momentum, and Return on Invested Capital for the company is 1.05. Return on Equity for this stock inclined to 6.51, with Return on Assets sitting at 0.90. When it comes to the capital structure of this company, Wynn Resorts Limited [WYNN] has a Total Debt to Total Equity ratio set at 608.12. Additionally, WYNN Total Debt to Total Capital is recorded at 85.88, with Total Debt to Total Assets ending up at 76.14. Long-Term Debt to Equity for the company is recorded at 588.45, with the Long-Term Debt to Total Capital now at 83.10.

Reflecting on the efficiency of the workforce at the company, Wynn Resorts Limited [WYNN] managed to generate an average of $4,072 per employee. Receivables Turnover for the company is 21.22 with a Total Asset Turnover recorded at a value of 0.49.Wynn Resorts Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.20 and a Current Ratio set at 2.30.

Wynn Resorts Limited [WYNN]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Wynn Resorts Limited posted 0.86/share EPS, while the average EPS was predicted by analysts to be reported at 0.91/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -5.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for WYNN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Wynn Resorts Limited go to -11.31%.

An analysis of insider ownership at Wynn Resorts Limited [WYNN]

There are presently around $8,604 million, or 73.20% of WYNN stock, in the hands of institutional investors. The top three institutional holders of WYNN stocks are: PRICE T ROWE ASSOCIATES INC /MD/ with ownership of 10,383,044, which is approximately 22.325% of the company’s market cap and around 0.60% of the total institutional ownership; VANGUARD GROUP INC, holding 10,287,743 shares of the stock with an approximate value of $1.15 billion in WYNN stocks shares; and BLACKROCK INC., currently with $752.55 million in WYNN stock with ownership of nearly -2.213% of the company’s market capitalization.

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Positions in Wynn Resorts Limited stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 237 institutional holders increased their position in Wynn Resorts Limited [NASDAQ:WYNN] by around 10,172,510 shares. Additionally, 226 investors decreased positions by around 8,821,009 shares, while 69 investors held positions by with 58,300,541 shares. The mentioned changes placed institutional holdings at 77,294,060 shares, according to the latest SEC report filing. WYNN stock had 77 new institutional investments in for a total of 1,193,025 shares, while 68 institutional investors sold positions of 2,599,548 shares during the same period.

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