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Wynn Resorts (WYNN) to Report Q3 Earnings: What's in Store?
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Wynn Resorts, Limited (WYNN - Free Report) is scheduled to report third-quarter 2020 results on Nov 5. In the last reported quarter, the company reported a negative earnings surprise of 25.6%. The company missed earnings estimates in each of the trailing four quarters, the average negative surprise being 129.1%.
Q3 Estimates
The Zacks Consensus Estimate for third-quarter bottom line is pegged at a loss of $3.19 per share. Notably, the company had reported an earnings of 17 cents in the prior-year quarter. Over the past seven days, estimates for third-quarter have remained stable. The Zacks Consensus Estimate for revenues stands at $460.1 million, indicating a decline of 72.1% from the year-ago reported figure.
Factors to Note
Wynn Resorts third-quarter results are likely to reflect the impact of the coronavirus pandemic on its operations. Although the company has resumed operations, dismal visitation due to the pandemic might have negatively impacted the company’s performance in the quarter to be reported. Moreover, limited numbers of tables have been hurting the company.
The Zacks Consensus Estimate for third-quarter revenues from Wynn Macau operations is pegged at $118 million, suggesting a sharp decline of 75.1% from the year-ago reported figure. Wynn Palace operations might have weighed on the third-quarter performance. The consensus mark for revenues from Wynn Palace stands at $147 million, indicating a decline of 75.4% from the year-ago quarter.
Dismal performance at Encore Boston Harbor, Wynn Palace, Wynn Macau, Las Vegas operations and Encore Boston Harbor may have significantly affected the third-quarter performance. Moreover, cash burn owing to the coronavirus is likely to get reflected in the to-be-reported quarter’s results.
Our proven model doesn’t conclusively predict 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 -9.05% and a Zacks Rank #5 (Strong Sell).
Stocks With Favorable Combinations
Here are some stocks from the Zacks Consumer Discretionary space that investors may consider, as our model shows that these have the right combination of elements to deliver an earnings beat this time around.
Caesars Entertainment, Inc. (CZR - Free Report) has an Earnings ESP of +5.97% and a Zacks Rank #3.
Planet Fitness, Inc. (PLNT - Free Report) has an Earnings ESP of +7.14% and a Zacks Rank #3.
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Wynn Resorts (WYNN) to Report Q3 Earnings: What's in Store?
Wynn Resorts, Limited (WYNN - Free Report) is scheduled to report third-quarter 2020 results on Nov 5. In the last reported quarter, the company reported a negative earnings surprise of 25.6%. The company missed earnings estimates in each of the trailing four quarters, the average negative surprise being 129.1%.
Q3 Estimates
The Zacks Consensus Estimate for third-quarter bottom line is pegged at a loss of $3.19 per share. Notably, the company had reported an earnings of 17 cents in the prior-year quarter. Over the past seven days, estimates for third-quarter have remained stable. The Zacks Consensus Estimate for revenues stands at $460.1 million, indicating a decline of 72.1% from the year-ago reported figure.
Factors to Note
Wynn Resorts third-quarter results are likely to reflect the impact of the coronavirus pandemic on its operations. Although the company has resumed operations, dismal visitation due to the pandemic might have negatively impacted the company’s performance in the quarter to be reported. Moreover, limited numbers of tables have been hurting the company.
The Zacks Consensus Estimate for third-quarter revenues from Wynn Macau operations is pegged at $118 million, suggesting a sharp decline of 75.1% from the year-ago reported figure. Wynn Palace operations might have weighed on the third-quarter performance. The consensus mark for revenues from Wynn Palace stands at $147 million, indicating a decline of 75.4% from the year-ago quarter.
Dismal performance at Encore Boston Harbor, Wynn Palace, Wynn Macau, Las Vegas operations and Encore Boston Harbor may have significantly affected the third-quarter performance. Moreover, cash burn owing to the coronavirus is likely to get reflected in the to-be-reported quarter’s results.
Wynn Resorts, Limited Price and EPS Surprise
Wynn Resorts, Limited price-eps-surprise | Wynn Resorts, Limited Quote
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict 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 -9.05% and a Zacks Rank #5 (Strong Sell).
Stocks With Favorable Combinations
Here are some stocks from the Zacks Consumer Discretionary space that investors may consider, as our model shows that these 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 +211.11% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Caesars Entertainment, Inc. (CZR - Free Report) has an Earnings ESP of +5.97% and a Zacks Rank #3.
Planet Fitness, Inc. (PLNT - Free Report) has an Earnings ESP of +7.14% and a Zacks Rank #3.
Legal Marijuana: An Investor’s Dream
Imagine getting in early on a young industry primed to skyrocket from $17.7 billion in 2019 to an expected $73.6 billion by 2027.
Although marijuana stocks did better as the pandemic took hold than the market as a whole, they’ve been pushed down. This is exactly the right time to get in on selected strong companies at a fraction of their value before COVID struck. Zacks’ Special Report, Marijuana Moneymakers, reveals 10 exciting tickers for urgent consideration.
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