Wynn Profit Slides on Macau Weakness

At the Street, analysts believe that Wynn’s EPS for the upcoming quarter will be $0.85. RevPAR of $243 up 2.1%.

Earnings: $73.8 million, down 61.4 percent from the third quarter of 2014. For 2QFY15, the gaming company missed revenue estimates by about 2.63%. The stock witnessed a net inflow of $98.47 million at the end of the block trade. Nearly $1.36 million were received in upticks and approximately $1.95 million were lost in downticks, thereby giving the up/down ratio of 0.7. During last six month period, the net percent change held by insiders has seen a change of -2.03%. Year-to-Date the stock performance stands at -50.41%.

Chairman and Chief Executive Officer Steve Wynn criticized Chinese bureaucrats who haven’t told him how many gaming tables he’ll get at his $4.1 billion resort scheduled to open in Macau on March 25. Southeastern Asset Management Inc Tn is another quite bullish active investment manager who is having 7.11 million shares of Wynn Resorts Limited or 4.69% of their U.S. equity exposure. The stock garnered a place in the hold list of 9 stock Analysts. Stocks with a low rating means they are a Buy or Strong Buy based on analyst consensus opinion.

Many analysts have commented on the company rating.

In a note revealed to clients by Susquehanna on Thursday morning, Wynn Resorts Limited (NASDAQ:WYNN) had its target decreased to $75.00. Analysts at the Taglich Brothers have a current rating of Market Perform on the shares. The shares were previously rated Underperform. The firm presently has “Neutral” rating on the stock.

Wynn Resorts, Limited (NASDAQ:WYNN): On Wednesday heightened volatility was witnessed in Wynn Resorts, Limited (NASDAQ:WYNN) which led to swings in the share price. So investors tend to keep an eye on that “days to cover” metric, because a high value could predict a sharper price increase should the company put out a few unexpectedly good news – short sellers might rush to cover positions, and if the “days to cover” number is high, it is more hard to close those positions without sending the stock higher until the higher price produces enough sellers to generate the necessary volume. 7,348,879 shares of the company’s stock traded hands. Wynn Resorts, Limited has a 1-year low of $50.96 and a 1-year high of $192.45.

Wynn Resorts, Limited is a developer, owner and operator of destination casino resorts which integrate accommodations and amenities, including fine dining, superior retail offerings, identifying entertainment and convention facilities.

The slump in Macau comes amid a wave of new casino projects, many of which had been planned to operate with 500 baccarat tables each.

High-roller play by all tourists is down as much as 50 percent in Las Vegas, where overall revenue also fell in the quarter, according to Wynn Resorts. The Business owns 72% of Wynn Macau, Limited, which manages an integrated resort in the Macau Special Administrative Region of the People’s Republic of China (NASDAQ:WYNN). The business operates through two segments: Macau Operations, which includes Wynn Macau and Encore and Las Vegas Businesses, which includes Encore and Wynn Las Vegas at Wynn Las Vegas.

“Any drop in our earnings in Las Vegas is a result of a drop in our Asian baccarat business”, Wynn said on the call.