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Factors Setting the Tone for Wynn Resorts (WYNN) Q2 Earnings
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Wynn Resorts, Limited (WYNN - Free Report) is scheduled to report second-quarter 2020 results on Aug 4. In the last reported quarter, the company reported a negative earnings surprise of 237.1%.
Q2 Estimates
The Zacks Consensus Estimate for second-quarter is pegged at a loss of $4.97 per share, against earnings of $1.44 reported in the prior-year quarter. Over the past seven days, estimates for second-quarter have remained stable. The Zacks Consensus Estimate for revenues stands at $303.4 million, indicating a decline of 81.7% from the year-ago reported figure.
Wynn Resorts second-quarter results are likely to reflect the significant impact of the coronavirus pandemic on its operations. Even though the company has resumed operations at majority of its gaming properties, dismal traffic due to social-distancing protocols might have negatively impacted the to-be-reported quarter’s performance. Although casinos have been opened in Macau from Mar 20, travel restrictions and limited number of tables have been hurting the company.
Dismal performance at Encore Boston Harbor, Wynn Palace, Wynn Macau, Las Vegas operations and Encore Boston Harbor may have significantly affected the second-quarter performance. Moreover, increase in cash burn owing to the coronavirus is likely to get reflected in the to-be-reported quarter’s results.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Wynn Resorts this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Wynn Resorts has an Earnings ESP of +2.64% and a Zacks Rank #3.
Other Stocks With Favorable Combinations
Here are some other stocks from the Zacks Consumer Discretionary space that investors may consider, as our model shows that these too have the right combination of elements to deliver an earnings beat this time around.
Caesars Entertainment Corporation (CZR - Free Report) has an Earnings ESP of +9.34% and a Zacks Rank of 3.
International Game Technology PLC (IGT - Free Report) has an Earnings ESP of +19.07% and a Zacks Rank #2.
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Factors Setting the Tone for Wynn Resorts (WYNN) Q2 Earnings
Wynn Resorts, Limited (WYNN - Free Report) is scheduled to report second-quarter 2020 results on Aug 4. In the last reported quarter, the company reported a negative earnings surprise of 237.1%.
Q2 Estimates
The Zacks Consensus Estimate for second-quarter is pegged at a loss of $4.97 per share, against earnings of $1.44 reported in the prior-year quarter. Over the past seven days, estimates for second-quarter have remained stable. The Zacks Consensus Estimate for revenues stands at $303.4 million, indicating a decline of 81.7% from the year-ago reported figure.
Wynn Resorts, Limited Price and EPS Surprise
Wynn Resorts, Limited price-eps-surprise | Wynn Resorts, Limited Quote
Factors to Note
Wynn Resorts second-quarter results are likely to reflect the significant impact of the coronavirus pandemic on its operations. Even though the company has resumed operations at majority of its gaming properties, dismal traffic due to social-distancing protocols might have negatively impacted the to-be-reported quarter’s performance. Although casinos have been opened in Macau from Mar 20, travel restrictions and limited number of tables have been hurting the company.
Dismal performance at Encore Boston Harbor, Wynn Palace, Wynn Macau, Las Vegas operations and Encore Boston Harbor may have significantly affected the second-quarter performance. Moreover, increase in cash burn owing to the coronavirus is likely to get reflected in the to-be-reported quarter’s results.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Wynn Resorts this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Wynn Resorts has an Earnings ESP of +2.64% and a Zacks Rank #3.
Other Stocks With Favorable Combinations
Here are some other stocks from the Zacks Consumer Discretionary space that investors may consider, as our model shows that these too have the right combination of elements to deliver an earnings beat this time around.
Electronic Arts Inc. (EA - Free Report) has an Earnings ESP of +2.43% and a Zacks Rank #3, at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Caesars Entertainment Corporation (CZR - Free Report) has an Earnings ESP of +9.34% and a Zacks Rank of 3.
International Game Technology PLC (IGT - Free Report) has an Earnings ESP of +19.07% and a Zacks Rank #2.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>