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Wynn Resorts Ltd. (WYNN) is scheduled to report its Q2 2012 results on July 17, 2012, after the bell. The street expects EPS and revenue of $1.54 and $1.36B, respectively.

In this article I will recap the historical results of the company, its latest EPS estimates vs. surprises, the latest news from WYNN and the news from its closest competitors.

Wynn Resorts Ltd. Revenue and Net Income History

Recent EPS Actuals vs. Estimates

In the last quarter it reported $1.33 EPS, failing to meet analyst estimates of $1.41.

Wynn Resorts Ltd. EPS Historical Results vs Estimates

The consensus EPS estimate is $1.54 based on 23 analysts' estimates, down from $1.60 a year ago. Revenue estimates are $1.36B, just below $1.37B a year ago. The median target price by analysts for the stock is $136.00.

Average recommendation: Overweight

Source: Marketwatch

Analyst Upgrades and Downgrades

  • On July 9, 2012, Cantor Fitzgerald initiated Buy rating for the company.
  • On May 8, 2012, UBS reiterated Buy rating for the company.
  • On May 8, 2012, Barclays reiterated Overweight rating for the company.
  • On April 26, 2012, Imperial Capital initiated Outperform rating for the company.
  • On February 3, 2012, Brean Murray reiterated Buy rating for the company.

Latest News

  • On April 9, 2012, The Shareholders Foundation, Inc announces that a lawsuit was filed by an investor in Wynn Resorts, Limited shares against certain directors and officers of Wynn Resorts over alleged breaches of fiduciary duties.
  • On April 6, 2012, Shuman Law Firm announced that it is investigating potential claims against certain officers and directors of Wynn Resorts, Limited. The Firm's investigation focuses on issues raised in a letter the Company received from the Securities Exchange Commission (SEC) on February 8, 2012, in which the SEC requesting that the Company preserve information relating to a $135 million donation made by Wynn Resorts to the University of Macau, any other donations to other educational charitable institutions, including the University of Macau Development Foundation and Wynn Resorts' casino or concession gaming licenses or renewals in Macau.
  • On April 3, 2012, The Law Firm of Levi & Korsinsky, LLP announced that it is investigating potential claims on behalf of purchasers of Wynn Resorts Ltd. securities concerning possible violations of federal securities laws.
  • On March 31, 2012, Glancy Binkow & Goldberg LLP announced that it is investigating potential claims on behalf of shareholders of Wynn Resorts, Limited concerning possible breaches of fiduciary duties by the Company or its fiduciaries.
  • On March 24, 2012, Glancy Binkow & Goldberg LLP announced that it is investigating potential claims on behalf of shareholders of Wynn Resorts, Limited (Wynn Resorts or the Company) concerning possible breaches of fiduciary duties by the Company or its fiduciaries.
  • On March 23, 2012, Levi & Korsinsky announced that it is investigating potential claims on behalf of purchasers of Wynn Resorts Ltd. securities concerning possible violations of federal securities laws.
  • On March 22, 2012, Ryan & Maniskas, LLP announced that it is investigating potential claims against the board of directors of Wynn Resorts Ltd. (Wynn or the Company) concerning possible breaches of fiduciary duty and other violations of law related by certain officers and directors of Wynn relating to violations of the Foreign Corrupt Practices Act (OTCPK:FCPA) by providing improper monetary benefits to government officials in Macau.
  • On March 22, 2012, Law Offices of Howard G. Smith announced that it is investigating potential claims against Wynn Resorts Ltd. and its board of directors concerning possible breaches of fiduciary duties by the Company or its fiduciaries.
  • On March 13, 2012, Universal Entertainment Corporation, and its subsidiary Aruze USA, Inc., filed a Counterclaim against Steve Wynn, Wynn Resorts, Limited, an officer of Wynn Resorts, and the individual members of the Wynn Resorts Board, to prevent the unjust and improper redemption of shares owned by Aruze USA, Inc., at a 30% discount, and to seek damages, punitive damages and treble damages.
  • On March 5, 2012, Wynn Resorts, Limited announced the pricing by Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp. (issuers), each a direct or indirect wholly owned subsidiary of Wynn Resorts, Limited, of $900,000,000 aggregate principal amount of 5.375% First Mortgage Notes due 2022.

Competitors

Wynn Resorts Ltd. operates in Resorts & Casinos industry. The company could be compared to Caesars Entertainment Corporation (CZR), Las Vegas Sands Corp. (LVS), MGM Resorts International (MGM), and Melco Crown Entertainment Limited (MPEL). Below is the table comparison of the most important ratios between these companies and the industry.

Wynn Resorts Ltd. key ratio comparison with direct competitors

Below is the chart comparison with the stock price changes as a percentage for the selected companies and S&P 500 index for the last one year period.

(click to enlarge)WYNN Chart

WYNN data by YCharts

Competitors' Latest Development

  • On July 5, 2012, Reuters reported that Belle Corporation has signed a memorandum of agreement with Melco Crown Entertainment Limited to develop a $1 billion casino-hotel in Manila.
  • On June 27, 2012, Reuters reported that Melco Crown Entertainment Limited, the casino operator run by Australian billionaire James Packer and Macau gambling tycoon Lawrence Ho, is set to sign a deal to develop a $1 billion casino in the Philippines.
  • On May 3, 2012, MGM Resorts International announced that based on current booking trends, it expects mid-single digit REVPAR growth in the second quarter of 2012.
  • On February 22, 2012, MGM Resorts announced a dividend of approximately $400 million, which will be paid to shareholders of record as of March 9, 2012 and distributed on or about March 20, 2012.
  • On February 15, 2012, MGM Resorts International and Ameristar Casinos Inc announced a strategic marketing relationship for the companies' rewards programs - MGM Resorts' M life and Ameristar's Star Awards/Plateau Players Club.
  • On February 13, 2012, MGM Resorts International announced that CityCenter Holdings, LLC, a joint venture which is 50% owned by a wholly owned subsidiary of the Company and 50% owned by Infinity World Development Corp.

Technical Overview


The stock has a market capitalization of $12.01B and is currently trading at $96.22 with a 52 week range of $95.10 - $172.58. The stock's year-to-date performance has been -12.10%. It is currently trading below 20, 50 and 200 SMA.

Sources: Yahoo Finance, Google Finance, Marketwatch, Finviz, Reuters.

Source: Earnings Preview: Wynn Resorts