Financial News
Wynn Resorts (WYNN) Reports Earnings Tomorrow: What To Expect
Luxury hotels and casino operator Wynn Resorts (NASDAQ:WYNN) will be reporting earnings tomorrow after the bell. Here’s what investors should know.
Wynn Resorts met analysts’ revenue expectations last quarter, reporting revenues of $1.73 billion, up 8.6% year on year. Despite the sales beat, it was a softer quarter for the company, with a miss of analysts’ EBITDA and earnings estimates.
Is Wynn Resorts a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Wynn Resorts’s revenue to grow 3.3% year on year to $1.73 billion, slowing from the 87.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.10 per share.
Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing 4 downward revisions over the last 30 days (we track 13 analysts). Wynn Resorts has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 3.8% on average.
Looking at Wynn Resorts’s peers in the casino operator segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Boyd Gaming delivered year-on-year revenue growth of 6.4%, beating analysts’ expectations by 4.8%, and Monarch reported revenues up 3.7%, topping estimates by 2.9%. Boyd Gaming traded up 7.8% following the results while Monarch was also up 6.4%.
Read our full analysis of Boyd Gaming’s results here and Monarch’s results here.
Investors in the casino operator segment have had steady hands going into earnings, with share prices up 1.9% on average over the last month. Wynn Resorts is down 10.1% during the same time and is heading into earnings with an average analyst price target of $117.34 (compared to the current share price of $95.67).
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