Wynn Resorts (NASDAQ:WYNN) represents one of the better buying opportunities in the markets right now. Wynn Resorts is now 38.7% off its 52-week high of $172.58. The stock is currently trading at $105.65/share and is right near its 52-week low. This stock should be trading above $140.00/share and I will not be surprised to see it doing just that in a short time-frame. If the stock should move below $100.00/share I would highly recommend buying the stock or call options in quantity to take advantage of the upswing that will come.
|52wk high: ||172.58 |
|52wk low: ||100.51 |
|EPS: ||4.29 |
|PE: ||24.60 |
|Div Rate: ||N/A |
|Yield: ||N/A |
|Market Cap: ||13.2 B |
|Volume: ||2.32 M |
Analysts have the following price targets for Wynn Resorts:
Price Target Summary
|Mean Target: ||155.54 |
|Median Target: ||152.50 |
|High Target: ||188.00 |
|Low Target: ||120.00 |
|No. of Brokers: ||24 |
Over the past year, Wynn Resorts had the following upgrades/downgrades:
|28-Nov-11 ||Upgrade ||Needham ||Hold → Buy ||$145 |
|28-Nov-11 ||Upgrade ||KeyBanc Capital Mkts ||Hold → Buy ||$145 |
|12-Aug-11 ||Upgrade ||Barclays Capital ||Equal Weight → Overweight || |
|19-Jul-11 ||Reiterated ||Barclays Capital ||Equal Weight ||$125 → $160 |
|07-Jul-11 ||Initiated ||Brean Murray ||Buy ||$175 |
|20-Apr-11 ||Reiterated ||Hudson Securities ||Hold ||$129 → $146 |
|20-Apr-11 ||Reiterated ||Deutsche Bank ||Buy ||$141 → $148 |
|11-Feb-11 ||Reiterated ||Barclays Capital ||Equal Weight ||$102 → $105 |
|11-Jan-11 ||Reiterated ||Barclays Capital ||Equal Weight ||$90 → $102 |
Even the lowest estimates have Wynn Resorts trading much higher than its current price. I expect to see this stock continue to move higher. Here is a closer look at Wynn Resorts' past earnings-per-share and future estimates:
There has been some talk that Wynn Resorts is looking into building a casino in Massachusetts.
Among all gambling stocks, Wynn Resorts has the most upside potential, ahead of Ls Vegas Sands (NYSE:LVS), MGM Resorts (NYSE:MGM), and Melco Crown Enternatiment (NASDAQ:MPEL).
Currently, I like the June 2012 $120.00 strike price call options. I can easily see Wynn Resorts trading above $150.00/share by this time. The current bid/ask spread for the $120.00 strike price is $8.80 - $9.10.
As recently as November 2, 2011, Wynn Resorts was trading at $136.70/share. Wynn Resorts has really been beaten down since the beginning of December. It will rebound soon.
Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in WYNN over the next 72 hours.