According to Zacks, “Wynn Resorts’ earnings and revenues have been missing the Zacks Consensus Estimate over the past three quarters due to a sluggish performance in Macau”. The number has declined to 50% owing to the anti-corruption drive. Additionally, heightened competition and high debt burden pose threats for the company. Morgan Stanley reiterated an underweight rating on shares of Wynn Resorts, Limited in a research note on Thursday, June 18th.
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9/22/2015 – Wynn Resorts, Limited was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. The company now has an average rating of Hold and a consensus price target of $124.30.
Many analysts have commented on the company rating. This short term price target has been shared by 10 analysts. They now have a “buy” rating on the stock. 9 analysts have advised hold. 4 analysts have added the shares in their list of strong buys. The shares have now been rated Neutral by the stock experts at the ratings house.
9/8/2015 – Wynn Resorts, Limited had its “underperform” rating reaffirmed by analysts at Telsey Advisory Group.
The VIP gambling industry in Macau has been bearing the brunt of an anti-graft corruption campaign run by the government since May 2014. “The mass market is holding up much better”.
Wynn Resorts, Limited (NASDAQ:WYNN) opened at 53.12 on Wednesday. Nomura lowers the price target from $106 per share to $82 per share on Wynn Resorts, Limited. The company has a market capitalization of $5.37 billion and a price-to-earnings ratio of 17.24. The 50-day moving average is $76.47 and the 200 day moving average is recorded at $103.05.
Wynn Resorts, Limited (NASDAQ:WYNN) last issued its earnings results on Wednesday, July 29th.
Macau’s casino regulator is studying new rules to require junket operators to make public its directors, shareholders, key employees and collaborators. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.07 billion. Wynn Resorts, Limited’s quarterly revenue was down 26.3% on a year-over-year basis. During the same period a year ago, the firm posted $2.11 EPS. Now the company Insiders own 0.3% of Wynn Resorts Ltd. Company shares.
Wynn Resorts, Limited is a developer, owner and operator of destination casino resorts which incorporate amenities and accommodations, including fine dining, premium retail offerings, distinguishing entertainment and convention facilities. The Company refers to the integrated Wynn Las Vegas and Encore at Wynn Las Vegas resorts as Wynn Las Vegas, Encore or as its Las Vegas Operations.
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“We are unsure how to cope with this vicious circle which has devastated Macau’s VIP gaming business. IGT systems are created to optimize floor efficiency and drive player engagement, and Wynn Resorts can leverage our unique applications to provide guests with unparalleled gaming experiences and personalized service”, said Renato Ascoli, IGT CEO North America Gaming & Interactive (DoubleDown Casino).
