Q2 Preview: Wynn (WYNN) to Kick-Off Earnings for Casino Sector; Analysts Optimistic on Macau
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Price: $100.28 +0.68%
Rating Summary:
35 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
35 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Shares of Wynn Resorts (Nasdaq: WYNN) are slightly higher in early-afternoon trade ahead of the company's second-quarter earnings report, expected out after the market close Monday.
As the first major casino operator to report results for the latest quarter, investors will be combing the release meticulously for any indication on the sector as a whole. Las Vegas Sands (NYSE: LVS) is expected to report on Tuesday, July 26th, while MGM Resorts (NYSE: MGM) is set to be out on Monday, August 8th.
The Street currently sees Wynn reporting quarterly earnings of 99 cents per share on sales of $1.26 billion. Compared to EPS of 47 cents reported during the same quarter last year, such earnings would suggest growth of more than 110 percent. Versus the first quarter of 2011, earnings of 99 cents would imply a nearly 30 percent decline in profit for Wynn.
Data from Bloomberg has nine analysts with a Buy rating on Wynn, 18 with a Neutral and just one with a Sell rating. The consensus of analyst price targets currently sits at $150.50.
Shares of Wynn have surged more than 57 percent so far this year, compared to a 6.5 percent move higher in the Dow Jones Average over the same period.
Around the Street:
Stay tuned to StreetInsider.com's Earnings category to get all the breaking earnings news in real-time.
As the first major casino operator to report results for the latest quarter, investors will be combing the release meticulously for any indication on the sector as a whole. Las Vegas Sands (NYSE: LVS) is expected to report on Tuesday, July 26th, while MGM Resorts (NYSE: MGM) is set to be out on Monday, August 8th.
The Street currently sees Wynn reporting quarterly earnings of 99 cents per share on sales of $1.26 billion. Compared to EPS of 47 cents reported during the same quarter last year, such earnings would suggest growth of more than 110 percent. Versus the first quarter of 2011, earnings of 99 cents would imply a nearly 30 percent decline in profit for Wynn.
Data from Bloomberg has nine analysts with a Buy rating on Wynn, 18 with a Neutral and just one with a Sell rating. The consensus of analyst price targets currently sits at $150.50.
Shares of Wynn have surged more than 57 percent so far this year, compared to a 6.5 percent move higher in the Dow Jones Average over the same period.
Around the Street:
- Goldman Sachs - Sees "another solid quarter driven by strength in both Macau and Las Vegas." Expecting EPS of $1.01, Wynn Macau property EBITDA of $292 million (up 35 percent from the year-ago quarter) and Vegas property EBITDA of $80 million (up 23 percent year-over-year). Maintains Neutral, $149 price target.
- Brean Murray - Modeling for a meet or beat quarter. Sees quarterly earnings of $1.02 per share. Expecting quarterly EBITDA of $354 million ($285 million in Macau, $86 million in Vegas). Maintains Buy, $175 target.
Stay tuned to StreetInsider.com's Earnings category to get all the breaking earnings news in real-time.
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