Nomura Securities Reiterates a 'Buy' on Wynn Resorts (WYNN); In-line Q1 - Macau Better Than it Looked
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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 reiterates a 'Buy' on Wynn Resorts (NASDAQ: WYNN) price target of $175.00.
Analyst, Harry Curtis, said, "Adjusting for low VIP hold and higher bad debt expenses, offset by higher mass hold, WYNN’s adjusted Macau EBITDA was ~$308m vs. consensus of $306m. WYNN is currently 55% reserved in Macau, and Q2 collections continue to be “very stable and normal.” Las Vegas was impacted by lower occupancy (79% vs. high 80% estimate). We are lowering our 2012 occupancy assumption to 83% vs. prior 87%, but maintaining ADR growth assumption of up 5%. Our Vegas RevPAR recovery thesis remains intact. Our 2012E/2013E EPS goes from $6.85/$7.73 to $6.18/$7.61."
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 $125.19 yesterday.
Analyst, Harry Curtis, said, "Adjusting for low VIP hold and higher bad debt expenses, offset by higher mass hold, WYNN’s adjusted Macau EBITDA was ~$308m vs. consensus of $306m. WYNN is currently 55% reserved in Macau, and Q2 collections continue to be “very stable and normal.” Las Vegas was impacted by lower occupancy (79% vs. high 80% estimate). We are lowering our 2012 occupancy assumption to 83% vs. prior 87%, but maintaining ADR growth assumption of up 5%. Our Vegas RevPAR recovery thesis remains intact. Our 2012E/2013E EPS goes from $6.85/$7.73 to $6.18/$7.61."
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 $125.19 yesterday.
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