Nomura Securities Maintains a 'Buy' on Wynn Resorts (WYNN); Adjusting FY Estimates
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Price: $102.53 +0.16%
Rating Summary:
35 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
35 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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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.
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.
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