Wynn Resorts (WYNN) Gains As Market Dips: What You Should Know
In the latest trading session, Wynn Resorts (WYNN) closed at $113.69, marking a +1.4% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.6%. Elsewhere, the Dow lost 0.33%, while the tech-heavy Nasdaq lost 2.87%.
Heading into today, shares of the casino operator had gained 6.02% over the past month, outpacing the Consumer Discretionary sector's gain of 5.93% and lagging the S&P 500's gain of 6.22% in that time.
Wynn Resorts will be looking to display strength as it nears its next earnings release. On that day, Wynn Resorts is projected to report earnings of -$0.18 per share, which would represent year-over-year growth of 85.12%. Our most recent consensus estimate is calling for quarterly revenue of $1.25 billion, up 30.67% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.05 per share and revenue of $5.47 billion, which would represent changes of +123.49% and +45.5%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Wynn Resorts. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 20.49% higher. Wynn Resorts is currently a Zacks Rank #2 (Buy).
Investors should also note Wynn Resorts's current valuation metrics, including its Forward P/E ratio of 106.78. This valuation marks a premium compared to its industry's average Forward P/E of 23.6.
The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 100, putting it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow WYNN in the coming trading sessions, be sure to utilize Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Wynn Resorts, Limited (WYNN) : Free Stock Analysis Report
