Wynn Resorts (WYNN) Stock Tumbles as Q3 Results Miss Expectations
Nov 04 2016
This means 44% are positive. The Zacks Research consensus target price is now $99.666.
WYNN has been the topic of several other research reports. The firm lowered its rating on WYNN from Neutral to Reduce. Recently, LB's stock has been recommended as BUY from 9 and 1 given OVERWEIGHT rating for the company.
In a different news, on Feb 10, 2016, Family Limited Partnershi Wynn (CEO) purchased 258,523 shares at $58.48 per share price. Deutsche Bank AG cut their price objective on Wynn Resorts from $101.00 to $100.00 and set a "hold" rating for the company in a research report on Wednesday, October 12th. The stock has a consensus rating of "Hold" and a consensus target price of $102.62.
Return on equity (ROE) is a measure of how much profit (net income) a company makes as a percentage of the shareholders equity.
DS Kim, an analyst from the foreign brokerage JP Morgan Chase, pointed out in a note on Thursday that casino cannibalization is starting to take shape with Wynn Macau becoming the prey. It has outperformed by 0.67% the S&P500.
Insitutional Activity: The institutional sentiment decreased to 1.01 in 2016 Q2. That compares with the mean forecast $1.02B and $0.91/share, respectively.
Wynn Resorts has a 52 week low of $49.95 and a 52 week high of $109.50 with a P/E ratio of 29.86 The company's market cap is now $0. They now own 75.05 million shares or 4.08% less from 78.24 million shares in 2016Q1. The stock had a trading capacity of 2.08M shares.
Wynn Resorts, Limited has 101,438,000 shares which are now outstanding with a price of 96.52 calculating Wynn Resorts, Limited's market capitalisation to 9.79B Dollars. Great West Life Assurance Can accumulated 56,098 shares or 0.02% of the stock. Wynn Resorts's dividend payout ratio is 66.23%. (NASDAQ:WYNN) traded up 0.54% during midday trading on Monday, hitting $94.69. Plante Moran Fincl Advsr Lc owns 31 shares or 0% of their USA portfolio. Bank & Trust Of Montreal Can owns 29,483 shares or 0% of their United States portfolio. Finally, AMP Capital Investors Ltd boosted its stake in Wynn Resorts by 3.6% in the first quarter.
Insiders at the company look optimistic about the outlook as they seem to accumulate shares while they have 38.42 jumped so far this year. The stock established a negative trend of -8.55% in last week and indicated fall of -5.07% in previous month. 1,690,051 shares of the company were exchanged.
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. The company has a market cap of $8.73 billion.
"The ramp-up at Wynn Palace is clearly taking a little longer than we expected", Matthew Maddox, president of Las Vegas-based Wynn Resorts, which owns Wynn Macau, said during a conference call with analysts. It has a 26.98 P/E ratio.
On a combined basis, the two Macau properties - Wynn Palace and Wynn Macau (1128.Hong Kong) - generated $683 million in revenue, missing consensus expectation of $734 million.
The Zacks Consensus Estimate for Monarch Casino & Resort full-year 2016 earnings climbed 7.9% over the last 60 days. "Le Reve will be situated at the site of the former Desert Inn & Casino on the Las Vegas Strip in Las Vegas, Nevada".
Wynn Resorts' revenues from Las Vegas operations were up 3.9% to $427.1 million due to higher casino and non-casino revenues. Sumitomo Mitsui Asset Management Company LTD now owns 6,330 shares of the casino operator's stock worth $573,000 after buying an additional 147 shares during the last quarter. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.