Nomura Securities Maintains a 'Buy' on Wynn Resorts (WYNN); Adjusting FY Estimates
WYNN Hot Sheet
Rating Summary:12 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 20 | Down: 11 | New: 38
Nomura Securities maintains a 'Buy' on Wynn Resorts (NASDAQ: WYNN) price target of $139.00.
Analyst, Harry C. Curtis, said, "We are introducing our 2012 quarterly estimates, which resulted in some minor changes in the full-year estimates. In Las Vegas, we made no material changes to our revenue assumptions. We did lower our EBITDA margin forecast modestly by 60bp to 29.1% in 2012, resulting in the lower Las Vegas EBITDA estimate. No change in Macau estimates. In 2012, we continue to look for ~5% VIP roll growth, 3% mass-table drop and ~8% slot handle. We still think WYNN can yield up its table utilization by swapping in higher-performing junkets. Our $139 PT represents ~23% potential upside to the February 10 closing price of ~$113. We cut our EPS estimates for 2012/13 to $5.70/$6.82, from $5.80/$6.87 respectively."
For an analyst ratings summary and ratings history on Wynn Resorts click here. For more ratings news on Wynn Resorts click here.
Shares of Wynn Resorts closed at $113.20 yesterday, with a 52 week range of $101.02-$172.58.
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Analyst, Harry C. Curtis, said, "We are introducing our 2012 quarterly estimates, which resulted in some minor changes in the full-year estimates. In Las Vegas, we made no material changes to our revenue assumptions. We did lower our EBITDA margin forecast modestly by 60bp to 29.1% in 2012, resulting in the lower Las Vegas EBITDA estimate. No change in Macau estimates. In 2012, we continue to look for ~5% VIP roll growth, 3% mass-table drop and ~8% slot handle. We still think WYNN can yield up its table utilization by swapping in higher-performing junkets. Our $139 PT represents ~23% potential upside to the February 10 closing price of ~$113. We cut our EPS estimates for 2012/13 to $5.70/$6.82, from $5.80/$6.87 respectively."
For an analyst ratings summary and ratings history on Wynn Resorts click here. For more ratings news on Wynn Resorts click here.
Shares of Wynn Resorts closed at $113.20 yesterday, with a 52 week range of $101.02-$172.58.
Discover Wall Street's best ratings calls with the pros - Ratings Insider Elite. Free Trial!
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