“0” brokerage firms have rated the company as a “Hold”. Strzemp John is another major insider shareholder of the stock, as per record date of Feb 22, 2016 insider owns 240,877 shares of the stock.
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WYNN is now showing 99.79 million shares outstanding as compared with the 79.49 million total shares float. It is now trading 7.92% above its 20 day moving average and 12.17% above its 50 day moving average.
Macau’s July GGR was within market analysts’ expectations that predicted a 4 to 8 percent drop.
Wynn Resorts, Limited (NASDAQ:WYNN) went lower by -6.41% to close at $ 97.95. This state Wynn Resorts, Limited shares price has to travel more than $-7.74 to register a new high of 52-weeks or drop $+96.10% to touch a new 52-week low point.
Billionaire tycoon Sheldon Adelson, who controls Las Vegas Sands, noted that “stabilisation appears to be here” when commenting on his Macau gaming business. The casino operator reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.16. In June, gross gaming revenue was MOP15.9 billion (US$1.98 billion), a 8.5 per cent decrease compared to the same period in 2015. The company’s revenue was up 1.7% on a year-over-year basis.
Las Vegas Sands, owner of Sands China, said last week its Macau casinos saw increased revenues from mass-market gamblers in June against the previous year, the first growth for about two years. Stockholders of record on Thursday, August 11th will be issued a dividend of $0.50 per share.
Macau stocks were mixed in Hong Kong trading, with Sands China up 2.3 percent while Wynn Macau fell 2.2 percent. Finally, Wells Fargo & Co. reiterated a “market perform” rating on shares of Wynn Resorts in a research report on Tuesday, April 12th. Its shares ended last trading session at the price of $97.95 whereas a number of traders indicating mean target price will hit $103.08 over the next twelve months, mean value of price target most recently revised on 07/29/16. Gabelli now has a “Buy” rating on the stock. 6 said it’s a Buy, 10 assigned Hold rating where 0 stated the stock as Underperform and 0 marked the stock as Sell. Wynn Resorts has a consensus rating of “Hold” and a consensus price target of $94.82.
Wynn Resorts, Limited is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes.
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Analysts are waiting to see if signs of hope emerge in the second half as key players Wynn China and Sands China launch new casinos in Macau’s Cotai area, which is home to about a dozen casino resorts.
