Luxury hotels and casino operator Wynn Resorts (NASDAQ:WYNN) will be reporting results tomorrow after market hours. Here’s what investors should know.
Wynn Resorts missed analysts’ revenue expectations by 2.3% last quarter, reporting revenues of $1.69 billion, up 1.3% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ adjusted operating income and EPS estimates.
Is Wynn Resorts a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Wynn Resorts’s revenue to decline 3.1% year on year to $1.78 billion, a reversal from the 83.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.27 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Wynn Resorts has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Wynn Resorts’s peers in the casino operator segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Boyd Gaming delivered year-on-year revenue growth of 9.1%, beating analysts’ expectations by 4%, and Monarch reported revenues up 4.9%, topping estimates by 4.4%. Boyd Gaming traded down 1.8% following the results.
Read our full analysis of Boyd Gaming’s results here and Monarch’s results here.
There has been positive sentiment among investors in the casino operator segment, with share prices up 2.7% on average over the last month. Wynn Resorts is down 5.6% during the same time and is heading into earnings with an average analyst price target of $111.46 (compared to the current share price of $77.30).
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