Followers | 689 |
Posts | 143817 |
Boards Moderated | 35 |
Alias Born | 03/10/2004 |
Sunday, August 04, 2019 2:12:58 PM
By: Zacks Equity Research | August 2, 2019
Wynn Resorts, Limited (WYNN) is scheduled to report second-quarter 2019 results on Aug 6, after the closing bell.
In the last reported quarter, the company delivered a positive earnings surprise of 1.3%. However, the bottom line missed the Zacks Consensus Estimate in the three of the trailing four quarters, the average miss being 12.6%.
Which Way are Estimates Headed?
The Zacks Consensus Estimate for second-quarter earnings stands at $1.42, indicating a 7.2% decline from year-ago quarter’s reported figure. Notably, the consensus mark has witnessed downward revisions of 2.1% over the past 30 days. For quarterly revenues, the Zacks Consensus Estimate is pegged at $1,600 million, implying approximately 0.8% decline from the prior-year quarter’s reported number.
Factors at Play
Wynn Resorts top line in the second quarter is likely to be impacted by a marginal decline in Wynn Macau revenues. However, Las Vegas operations and Wynn Palace are likely to report impressive numbers. The Zacks Consensus Estimate for second-quarter revenues from Las Vegas operations is pinned at $451 million, up 2% year over year. Moreover, revenues from Wynn Palace are expected to come in at $692 million, up 11.4% year over year.
Apart from the gaming business in Macau, the company has been increasingly focusing on driving non-gaming revenues. Given the decent visitation pattern in Macau, infrastructure development and government’s efforts to boost tourism in Macau, non-gaming sources are expected to boost Wynn Resorts’ revenues in the to-be-reported quarter.
In order to boost performance in Las Vegas, the company has remodeled rooms at its properties and the baccarat pit. The number of visits has been increasing every year. With the improving job scenario and stabilizing gas prices, the consumer spending environment in domestic markets is also improving. Backed by the optimism surrounding tourism in Las Vegas and increasing visitation pattern, revenues are likely to grow in the second quarter.
Wynn Resorts, Limited Price and EPS Surprise
Our Model Suggests a Beat
According to the Zacks model, a company with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) has a good chance of beating estimates if it also has a positive Earnings ESP. Zacks Rank #4 (Sell) or 5 (Strong Sell) stocks are best avoided, especially if they have a negative Earnings ESP. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Wynn Resorts has an Earnings ESP of +2.65% and a Zacks Rank #3, a combination that suggests that the company is likely to beat estimates. You can see the complete list of today’s Zacks #1 Rank stocks here.
Read Full Story »»»
• DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
• DiscoverGold
Recent WYNN News
- Form 8-K - Current report • Edgar (US Regulatory) • 09/20/2024 08:31:03 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/18/2024 12:07:39 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/16/2024 09:20:11 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/16/2024 08:24:12 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/14/2024 12:00:16 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/10/2024 08:06:08 PM
- Wynn Resorts Announces Pricing of Private Offering of $800 Million Aggregate Principal Amount of Wynn Resorts Finance 6.250% Senior Notes due 2033 • Business Wire • 09/10/2024 08:02:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/10/2024 12:05:50 PM
- Wynn Resorts Announces Private Offering of $800 Million of Wynn Resorts Finance Senior Notes Due 2033 • Business Wire • 09/10/2024 11:53:00 AM
- Dell, Palantir, and Erie Will Be Added to the S&P 500; Boeing Avoids Strike; Apple Event Takes Place Today • IH Market News • 09/09/2024 10:05:35 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/06/2024 09:25:26 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/03/2024 08:06:23 PM
- Big Lots Falls 27%, Considers Bankruptcy; DraftKings Acquires Simplebet, Berkshire Hits $1 Trillion • IH Market News • 08/29/2024 10:06:50 AM
- RELATED COMPANIES AND WYNN RESORTS UNVEIL NEW DETAILS ON THE NEXT PHASE OF HUDSON YARDS • PR Newswire (US) • 08/28/2024 04:32:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/14/2024 12:07:59 AM
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 08/12/2024 08:31:01 PM
- Novo Nordisk Adjusts Outlook, Airbnb Drops 16% on Declining U.S. Demand, Lumen Technologies Surges 48% in Premarket • IH Market News • 08/07/2024 09:42:51 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/06/2024 08:51:29 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/06/2024 08:03:46 PM
- Wynn Resorts, Limited Reports Second Quarter 2024 Results • Business Wire • 08/06/2024 08:02:00 PM
- US Index Futures Rise After Market Sell-off, Oil Prices Trim Losses • IH Market News • 08/06/2024 09:49:06 AM
- Wynn Las Vegas to Host Four Sixes Ranch Steakhouse Pop-up This Fall • PR Newswire (US) • 08/05/2024 05:00:00 PM
- US Index Futures Up Ahead of Fed Decision; Oil Prices Surge Amid Middle East Tensions • IH Market News • 07/31/2024 10:01:30 AM
- Wynn Resorts Announces Second Quarter Earnings Release Date • Business Wire • 07/30/2024 08:05:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/29/2024 01:05:02 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM