However, the new resort’s performance over its first two quarters of operation have been poor, and there are more family friendly resorts coming: Wynn Resorts (NASDAQ: WYNN) will be opening its Palace later this month followed by Las Vegas Sands’ (NYSE: LVS) Parisian in September. Coupled with a mandated change to a more Las Vegas-like experience on the new development strip of the island, Cotai, numerous region’s casino operators find themselves struggling to hit it big. The company had revenue of $1058.00 million for the quarter, compared to analysts expectations of $1034.75 million. Wynn Resorts Limited was Downgraded by CLSA to ” Underperform” on Jul 29, 2016.
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Wynn Resorts, Limited closed its last trading session at $100.19 with the loss of -0.6%. JPMorgan Chase & Co. lowered Wynn Resorts from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $101.00 to $94.00 in a research note on Thursday, July 14th. Company has a market cap of $10,184 M. The Stock now has a Weekly Volatility of 2.31% and Monthly Volatility of 3.09%. Company’s Return on Investment (ROI) shows a figure of 5.80%. AMP Capital Investors Ltd now owns 22,732 shares of the casino operator’s stock valued at $2,137,000 after buying an additional 800 shares during the last quarter. Wynn Resorts also owns 100% of and operates an integrated resort in Las Vegas, Nevada. And we think its stock price has almost unlimited room to run for early in-the-know investors! The firm has a 50-day moving average of $95.52 and a 200 day moving average of $89.66. The resort also received approvals for 1,145 slot machines. The casino operator reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.16. The investment management company now holds a total of 13,787,537 shares of Wynn Resorts Limited which is valued at $1,346,490,863 after selling 15,655 shares in Wynn Resorts Limited, the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Wynn Resorts Limited makes up approximately 18.40% of Northern Cross’s portfolio. Earlier this year, MGM said it was delaying the resort’s opening until next year’s first quarter, and the latest setback is an indication that conditions haven’t improved.
Zacks expects earnings estimates amounting to $0.86 from 20160810 to the year ending 2017. On average, analysts anticipate that Wynn Resorts will post $3.89 EPS for the current year. The ex-dividend date of this dividend is Tuesday, August 9th.
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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.
