Lots a bad news for Wynn pinning its hopes on High Rollers in Macau....and Massachusetts Gambling Commission following in lock-step....
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Junket Operator Says Conditions In Macau Could Worsen, Leading To Junket Room
OCTOBER 1, 2015
Wynn Resorts, Limited was downgraded by analysts at Zacks from a “hold” rating to a “sell” rating. Nomura maintains its view on Wynn Resorts, Limited (NASDAQ:WYNN) according to the research report released by the firm to its investors. The company presently has an average rating of Hold and a consensus price target of $124.30.
Taking a look at earnings,Wynn Resorts, Limited last reported quarterly results for the period ending on 2014-12-31 of $0.74. Wynn Resorts, Limited has a 1-year low of $52.26 and a 1-year high of $192.45.
The company’s 50 day moving average price is $73.70 and its 200-day moving average price is $102.16.
9/11/2015 – Wynn Resorts, Limited had its “buy” rating reaffirmed by analysts at Sterne Agee CRT. They now have a $131.00 price target on the stock.
9/8/2015 –Wynn Resorts, Limited was upgraded by analysts at Zacks from a “strong sell” rating to a “hold” rating. The company earned $1.04 billion during the quarter, compared to analyst estimates of $1.07 billion.
Melco’s third casino in Macau will add to its existing Altira and City of Dreams resorts, but the company headed by Lawrence Ho is enduring a tough trading period with its shares trading near a three-year low.
Macau’s casino regulator is studying new rules to require junket operators to make public its directors, shareholders, key employees and collaborators. The Company refers to the integrated Wynn Macau and Encore at Wynn Macau resorts as Wynn Macau, Encore or as its Macau Operations. The stock has a market capitalization of $5.23 billion and a price-to-earnings ratio of 16.78. Brokerage firms covering the stock, on a consensus basis, are expecting earnings per share of $0.79 for the quarter. Susquehanna cut their price objective on Wynn Resorts, Limited from $100.00 to $83.00 and set a neutral rating for the company in a research report on Thursday, September 10th.
On a different note, The Company has disclosed insider buying and selling activities to the Securities Exchange, Strzemp John, officer (EVP, Chief Administrative Ofc) of Wynn Resorts Ltd, unloaded 10,000 shares at an average price of $104.99 on July 31, 2015.
The market has been in a free fall for nearly a year-and-a-half over a sinking Chinese economy and a mainland China government crack down on corruption that has ensnared several of the high-end junket operators tasked with bring big spending gamblers to Macau’s casinos. The Company refers to the integrated Wynn Las Vegas and Encore atWynn Las Vegas resorts as Wynn Las Vegas, Encore or as its Las Vegas Operations. Company’s Las Vegas Operations feature approximately 4,750 hotel rooms and suites, 240 table games, 2,195 slot machines. Roughly 284,000 square feet of casino space with 498 is featured by its Macau Businesses table towers and others slot machines, two hotel games and 625.
http://www.ledgergazette.com/junket-operator-says-conditions-in-macau-could-worsen-leading-to-junket-room/93236/
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