Las Vegas is on the upswing, and people are flocking to casinos and hotels to enjoy some fun time with their improved economic outlook and more disposable income. Our Zacks Bull of the day, Wynn Resorts Limited (WYNN - Free Report) is taking a bigger piece of the overall market share, and their recent earnings results prove it.
This Zacks Ranked #1 (Strong Buy) and its wholly-owned subsidiaries Wynn Las Vegas and Wynn Capital will own and operate Le Reve, which they've designed to be the preeminent luxury hotel and destination casino resort in Las Vegas. Le Reve will be situated at the site of the former Desert Inn & Casino on the Las Vegas Strip in Las Vegas, Nevada.
Recent Earnings Results
On April 26th, WYNN reported Q1 17 earnings results where they easily beat both the Zacks consensus earnings and revenue estimates. On a year over year basis, the company saw gains in the following; Net revenues +47.9%, GAAP net income +34%, adjusted property EBITDA +42.4%. Management also approved a cash dividend of $0.50 per share to record holders as of May 11, 2017. Further, at the end of the quarter the company’s balance sheet boasted of cash and cash equivalents at $2.84 billion.
Management’s Take
According to Steve Wynn, Chairman and CEO, “Okay. You can see the numbers. Business is good for us. We've been joining a research and sub activity at the top-end in China. Our hotels there - we're enjoying the continuing prosperity of Wynn Macau and the steady growth of Wynn Palace pursuant to plans and the expectations we've had since the inception of that project. When we opened the hotel in Cotai this past August, we had 9% of the market. In the first quarter, we went to 13%, and now we're moving past 16% of market share. So that's in spite of the fact that we are still surrounded by barricades and construction. Now, it happens to be sort of a mixed message.”
Price and Earnings Consensus Graph
As you can see in the graph below, WYNN has begun to bounce back from a few years of price declines. Their recent earnings results and new properties are driving both analyst expectations, and price levels upwards.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Las Vegas is on the upswing, and people are flocking to casinos and hotels to enjoy some fun time with their improved economic outlook and more disposable income. Our Zacks Bull of the day, Wynn Resorts Limited (WYNN - Free Report) is taking a bigger piece of the overall market share, and their recent earnings results prove it.
This Zacks Ranked #1 (Strong Buy) and its wholly-owned subsidiaries Wynn Las Vegas and Wynn Capital will own and operate Le Reve, which they've designed to be the preeminent luxury hotel and destination casino resort in Las Vegas. Le Reve will be situated at the site of the former Desert Inn & Casino on the Las Vegas Strip in Las Vegas, Nevada.
Recent Earnings Results
On April 26th, WYNN reported Q1 17 earnings results where they easily beat both the Zacks consensus earnings and revenue estimates. On a year over year basis, the company saw gains in the following; Net revenues +47.9%, GAAP net income +34%, adjusted property EBITDA +42.4%. Management also approved a cash dividend of $0.50 per share to record holders as of May 11, 2017. Further, at the end of the quarter the company’s balance sheet boasted of cash and cash equivalents at $2.84 billion.
Management’s Take
According to Steve Wynn, Chairman and CEO, “Okay. You can see the numbers. Business is good for us. We've been joining a research and sub activity at the top-end in China. Our hotels there - we're enjoying the continuing prosperity of Wynn Macau and the steady growth of Wynn Palace pursuant to plans and the expectations we've had since the inception of that project. When we opened the hotel in Cotai this past August, we had 9% of the market. In the first quarter, we went to 13%, and now we're moving past 16% of market share. So that's in spite of the fact that we are still surrounded by barricades and construction. Now, it happens to be sort of a mixed message.”
Price and Earnings Consensus Graph
As you can see in the graph below, WYNN has begun to bounce back from a few years of price declines. Their recent earnings results and new properties are driving both analyst expectations, and price levels upwards.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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