WYNN - Wynn Resorts, Limited
| Previous Close | 105.55 |
| Open | 109.70 |
| Bid | 0.00 x 900 |
| Ask | 0.00 x 800 |
| Day's Range | 109.50 - 113.33 |
| 52 Week Range | 90.06 - 151.93 |
| Volume | 2,717,820 |
| Avg. Volume | 1,911,592 |
| Market Cap | 12.097B |
| Beta (3Y Monthly) | 1.74 |
| PE Ratio (TTM) | 14.80 |
| EPS (TTM) | 7.60 |
| Earnings Date | Nov 5, 2019 - Nov 11, 2019 |
| Forward Dividend & Yield | 4.00 (3.79%) |
| Ex-Dividend Date | 2019-08-15 |
| 1y Target Est | 138.93 |
- Bloomberg
Amazon, Swatch, Daimler and the Risks of a Global Recession
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Investors are bracing for a significant downturn in the world economy, cutting earnings estimates amid a market sell-off. While all cyclical industries face some form of risks, some companies within each sector are more vulnerable than others as the outlook deteriorates.In recent recessions, technology and finance were the triggers -- the internet bubble caused the 2000 market crash and subprime lending led to the 2008-2009 global financial crisis that spread to housing, manufacturing and consumer demand.“The financial sector was leading in 2002-2007. In this cycle, it’s the tech sector,” said Bloomberg Chief Equity Strategist Gina Martin Adams. Still, she cautioned that in spite of the warning signs, it may be too early to predict a recession, adding that “tech is the strength of the economy.”Here are five global companies that may stand to lose more than others:AmazonAmazon.com Inc. is among the most cyclical U.S. internet companies because the Seattle-based e-commerce giant relies heavily on consumer spending. It’s also been building its employee base, adding more than 600,000 jobs and hundreds of huge warehouses to store and ship products. Some of those costs are fixed, while others may be hard to reduce quickly if there’s a steep economic decline. It also faces regulatory risks.“Amazon’s near-term growth may be at risk as macroeconomic conditions worsen, regulatory scrutiny rises and spending cycles spark concern,” Jitendra Waral and April Kim, analysts at Bloomberg Intelligence, wrote in a recent note. “If demand were to slow amid Amazon’s increased spending on logistics, profit would face a double whammy.”One of Amazon’s fastest-growing new businesses -- digital advertising -- is also susceptible to economic ups and downs. Still, Amazon is riding a broad e-commerce growth trend that is unlikely to reverse during a recession.SwatchMakers of luxury items tend to endure more risks in a recession than producers of mass-market consumer goods. This time around, the effects would be compounded by U.S.-China trade tensions and protests in Hong Kong, which has already hurt the city’s economic outlook.Swatch Group AG, the biggest maker of Swiss timepieces, has more exposure to Hong Kong than any other luxury company, generating more than a third of the group’s sales in the Greater China region, according to Kepler Cheuvreux analyst Jon Cox. The maker of Omega watches also has a smaller presence in the steadier luxury categories of jewelry and fashion than rival Richemont, which owns brands including Chloe, Van Cleef & Arpels and Cartier.The high-end segment has also been far less elastic in a downturn. In 2009, Swiss watch exports slumped 22% amid the financial crisis.So far, the economic slowdown in China has done little to damp the appetite of Chinese consumers for luxury goods. But watchmakers are feeling the effects of the sometimes violent demonstrations in Hong Kong, their largest export market. Timepiece sales there could plunge as much as 40% in the second half, Cox said.Swatch also faces sluggish watch sales in Europe. If the U.S. takes a turn for the worse, the industry could be hit by a reversal of the recovery in its second-biggest market.Swatch ExportsDaimlerThe German corporate giant just doesn’t just face a slowdown in its home market -- it also has substantial exposure to a potential downturn in the U.S. The automaker produces two high-margin SUVs in Alabama and its Freightliner division is the leader in the North American heavy-truck market. Demand for transportation of goods tends to closely mirror broader economic swings and analysts say heavy-truck sales in the region have peaked following years of robust growth.Daimler AG relies on the U.S. for about a quarter of the group’s revenue last year. That’s more than Germany or China, where it operates a joint venture with BAIC.After two back-to-back profit warnings following their debut in May, Daimler’s new leadership duo has vowed to improve efficiency. Profitability at the Mercedes-Benz passenger-car division has been sub-par compared with its peers, and the car unit is up against waning demand in its two biggest markets by volume: China and the U.S.CaesarsAn economic downturn could be particularly ill-timed for Caesars Entertainment Corp. The largest owner of casinos in the U.S. is about to increase its debt load again to finance a megadeal, after struggling for years to recover from a 2008 leveraged buyout that left it saddled with debt at the height of the Great Recession. (Caesars ended up putting its largest division into bankruptcy to clean up its balance sheet.)Caesars is set to merge with Eldorado Resorts Inc. early next year in a deal that involves $8.2 billion in new financing, amid rising competition from new casinos, both online and at its properties. Unlike some of its peers that focus more on luxury, such as Wynn Resorts Ltd., Caesars operates a lot of casinos in small markets including Tunica, Mississippi, and Metropolis, Illinois. Combined with Eldorado, it will have 60 owned, operated and managed casino–resorts across 16 states.And even the Las Vegas Strip, once considered invincible as a gambling destination, has yet to see casino revenue return to its 2007 high.Toll BrothersA major economic slowdown would almost certainly hit home sales and prices for builders like Toll Brothers Inc. “If we do go into a recession, housing isn’t going to be the cause,” said Drew Reading, an analyst at Bloomberg Intelligence. “It’s going to be the victim.”The bigger challenge for the industry right now is affordability, especially in high-cost metros on the West Coast. Toll Brothers, the largest U.S. luxury homebuilder, has been trying to diversify geographically. But it’s still highly reliant on California, where it got nearly a third of its revenue last year.One the plus side: Single-family housing starts still haven’t returned to historical levels more than a decade after the financial crisis, which means homebuilders won’t be sitting on as much supply if the economy takes a turn for the worst.\--With assistance from Christoph Rauwald, Kevin Miller, Corinne Gretler, Noah Buhayar, Ian King, Christopher Palmeri and Alistair Barr.To contact the reporter on this story: Cécile Daurat in Wilmington at cdaurat@bloomberg.netTo contact the editors responsible for this story: Crayton Harrison at tharrison5@bloomberg.net, Linus Chua, Steve GeimannFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- American City Business Journals
Encore Boston Harbor outpaces MGM Springfield in first head-to-head month
The three casinos in Massachusetts cumulatively generated $81.4 million in revenue last month from hundreds of millions in wagers and Encore Boston Harbor in Everett accounted for about 60 percent of it. In its first full month of operations, the Wynn Resorts (Nasdaq: WYNN) property pulled in more than $48.57 million in table game and slot machine revenue. MGM Springfield (NYSE: MGM) posted its third-worst month in July but still counted $20.4 million in revenue and the slots parlor at Plainridge Park Casino generated $12.5 million last month, the Massachusetts Gaming Commission reported in its monthly revenue roundup.
- American City Business Journals
Mass. gaming commission taps D.C. law firm as Wynn Resorts monitor
The monitor role is a requirement of Wynn Resorts keeping its suitability license for Encore Boston Harbor, the $2.6 billion casino in Everett that opened earlier this year.
- Zacks
Wynn Resorts Banks on Solid Macau & Las Vegas Performance
Wynn Resorts' (WYNN) focus on non-gaming business and strength in domestic market bode well.
- Motley Fool
Las Vegas Is a Highlight for Wynn Resorts' Quarter
Growth in Las Vegas and the opening of Encore Boston Harbor are driving growth for Wynn Resorts.
- Zacks
IGT vs. WYNN: Which Stock Should Value Investors Buy Now?
IGT vs. WYNN: Which Stock Is the Better Value Option?
- PR Newswire
Wynn Resorts Issues 2018 Environmental, Social and Governance Report
LAS VEGAS, Aug. 7, 2019 /PRNewswire/ -- Wynn Resorts (WYNN) today issued its 2018 Environmental, Social and Governance Report, providing a comprehensive view of the Company's commitment to responsible business practices, environmental protection, and philanthropy. In a forward to the report, Wynn Resorts CEO Matt Maddox remarked, "For us, sustainability is more than just finding efficiencies to the economic, environmental, and social issues we face.
- Zacks
Wynn Resorts' (WYNN) Q2 Earnings & Revenues Beat Estimates
Wynn Resorts' (WYNN) solid top-line performance in second-quarter 2019 can be attributed to robust performance by Wynn Palace, Wynn Macau and Las Vegas operations.
- TheStreet.com
[video]Wynn Resorts Beats Profit Estimates as Las Vegas Casino Revenue Jumps
Hotel and casino operator Wynn Resorts reported better-than-expected earnings as casino revenue surged in Las Vegas. Revenue from Wynn's casino operations in Las Vegas jumped to $119.8 million in the quarter, up 17.7% from the second quarter a year earlier. Casino revenue from Wynn Macau rose 1.7% to $481.2 million.
Motley FoolWynn Resorts Ltd (WYNN) Q2 2019 Earnings Call Transcript
WYNN earnings call for the period ending June 30, 2019.
- Zacks
Wynn Resorts (WYNN) Surpasses Q2 Earnings and Revenue Estimates
Wynn (WYNN) delivered earnings and revenue surprises of 1.41% and 4.10%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
- Barrons.com
Trade War Threats Put Damper on Wynn Resorts Earnings Report
It’s hard to overstate how important China is to Wynn, which reported second-quarter earnings after the bell. About 70% of its revenue comes from Macau.
- Business Wire
Wynn Resorts, Limited Reports Second Quarter 2019 Results
Wynn Resorts, Limited today reported financial results for the quarter ended June 30, 2019.
- Investing.com
Wynn Resorts Earnings, Revenue Beat in Q2
Investing.com - Wynn Resorts (NASDAQ:WYNN) reported second quarter earnings that beat analysts' expectations on Tuesday and revenue that topped forecasts.
- Yahoo Finance
Disney, Papa John’s earnings — What to know in markets Tuesday
Media behemoth Disney and pizza chain Papa John’s are both scheduled to release quarterly results after the market close Tuesday.
- InvestorPlace
10 Cyclical Stocks to Buy (or Sell) Now
Cyclical stocks can be difficult to value. It's hard enough to understand a stock that posts steady growth, given factors like competition, management, and industry changes. Stocks subject to big swings based on external factors make that process even tougher.Source: Shutterstock In theory, cyclical stocks should trade as smoothly as the rest of the market. When the cycle is positive, earnings rise -- but the earnings multiple should fall, owing to the fact that profits are nearing or at a peak. In a downturn, the reverse is true: the multiple should expand, as it's likely better days are ahead at some point.In practice, of course, that's not always the case. Investors, like pretty much everyone else, are slow to see macroeconomic changes coming. Markets tend to overreact when news is good -- and panic when it isn't.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAt this point, with the U.S. economy reaching its longest-ever expansion last month, cyclical fears are rising. At some point, skeptics worry, the economy will turn. And so "defensive stocks" have gained nicely. Those stocks, including consumer stalwarts like Coca-Cola (NYSE:KO) and Procter & Gamble (NYSE:PG), are less subject to macro forces. Investors who see risk elsewhere in the market -- and in bonds trading at or near historically high prices -- are flooding into those issues. * 10 Generation Z Stocks to Buy Long In contrast, many cyclicals look cheap. But the key word is "look." Again, they should be cheap if a recession, or even slower growth, is on the horizon. For investors who believe that's the case, these are stocks to avoid. For those who see the expansion continuing, these are 10 stocks to buy. 10 Cyclical Stocks: Caterpillar (CAT)Source: Shutterstock Caterpillar (NYSE:CAT) is one of the quintessential cyclical stocks -- and it has proven why over the past decade. The financial crisis hammered Caterpillar: revenue declined a stunning 37% in 2009. EPS, on an adjusted basis, dropped over 60%, to a little over $2 per share. CAT stock fell over 75% in less than a year.As the world recovered, however, Caterpillar earnings soared. Two key factors drove the growth. What the company itself called a "commodity supercycle," driven by Chinese demand, sparked growth in excavator sales. The U.S. shale boom added another external tailwind. Revenue doubled over the next three years. Adjusted EPS went from $2.18 to over $9. CAT stock rose over 400%.As is often the case with cyclical stocks, a bust followed. Revenue declined in each of the next four years -- the first time ever, including during the Great Depression. At the lows, CAT had lost half of its value.Cost-cutting and increased demand led earnings, and the stock, to turn again. From 2016 to 2018, CAT stock tripled. From those highs, however, CAT has steadily pulled back.Now the stock looks cheap. It trades at a little over 10x 2019 EPS. But as I wrote in June, there's a ceiling on the stock. Investors are waiting for the cycle to turn and for Caterpillar stock to plunge again.Again, this is the quintessential cyclical play. There's not much, if anything, Caterpillar can do at this point to manage global demand. If economies in the West and China stay strong, CAT probably rises. If they fade, it falls. Place your bets accordingly. Brunswick (BC)Source: Shutterstock In a changing world, pure cyclical stocks are harder to find. In many cases, there are factors at play beyond simple macro worries. Such is the case with boating stocks like Brunswick (NYSE:BC).The economy, particularly in the U.S., obviously plays a significant factor in investor sentiment toward the sector. But there are other concerns, most notably a question as to whether younger consumers will buy motorized boats going forward. For reasons including environmental considerations, student loan debt, and lower interest in fishing, it's possible that new boat demand has already peaked.That said, recent trading in boating stocks clearly has shown some impact from macro worries. The entire space, which also includes small-caps Malibu Boats (NASDAQ:MBUU), MasterCraft Boat Holdings (NASDAQ:MCFT), and Marine Products (NYSE:MPX), seems dirt-cheap. BC stock trades at less than 10x the low end of its 2020 EPS guidance. MBUU and MCFT have fallen off the table of late and are even cheaper. * 7 A-Rated Stocks Under $10 When the cycle turns for boating stocks, it turns hard -- so "cheap" isn't enough. But Brunswick is the worldwide leader in the industry, and its growing parts and accessories business provides some protection against a macro turn. BC stock, along with MBUU and MCFT, made my list of cheap growth stocks to buy earlier this year. All three have risk -- but all three look intriguing, particularly for investors who think the U.S. economy has more growth ahead. Ford (F) and General Motors (GM)Source: Shutterstock In the automotive sector the story is somewhat similar. Like boating stocks, Ford (NYSE:F) and General Motors (NYSE:GM) both look cheap. And bears can, and will, argue that they are cheap for very good reasons.Here too, there are concerns about near- to mid-term cyclical changes. And there's the long-term concern that the industry has peaked. In this case, it's autonomous vehicles that, at least in theory, would result in vastly lower unit sales worldwide.GM stock has managed to at least trade sideways, while giving investors dividend payments. F stock, meanwhile, touched a nine-year low late last year, and slid back after somewhat disappointing Q2 earnings last month.Both stocks -- at less than 7x forward earnings -- can gain, particularly if the economy holds up and the companies can make progress in autonomous and electric vehicles. But the big risk here -- and the case for even considering a short of one of these stocks -- is if the economy turns before the companies can make that pivot, the Big Two automakers could be in big trouble. 3M (MMM)Source: Shutterstock Two cyclical factors came in a big way for 3M (NYSE:MMM). A slowdown in Chinese demand and automotive weakness led to a disastrous first quarter report in late April. MMM stock fell 13%, its largest one-day decline since the 1987 stock market crash. It kept falling, losing 27% of its value in less than six weeks.The fear with 3M stock is that those aren't the only cyclical aspects of the company's business. Its industrial and even, if to a lesser extent, its consumer businesses are largely macro-sensitive. And yet MMM isn't that cheap, trading at 16x forward earnings.I recommended a month ago that investors sell what was a modest bounce in the stock. I'm not alone: 3M stock has nearly 2% of its float sold short, a big number for a megacap. * 8 of the Most Shorted Stocks in the Markets Right Now Admittedly, a solid Q2 report and a 3% dividend yield might make some investors feel differently. But I still believe there's more pain ahead -- which doesn't look priced into MMM stock, even at lower levels. Las Vegas Sands (LVS) and Wynn Resorts (WYNN)Source: Shutterstock Casino stocks generally have significant macro exposure. That's doubly true for Las Vegas Sands (NYSE:LVS) and Wynn Resorts (NASDAQ:WYNN).Their key markets -- Las Vegas, Macau, and in LVS' case Singapore -- aren't just gaming destinations. They're tourist attractions as well. Across the board, both companies generally attract higher-end customers -- the kind that can be more easily lost when a recession hits and businesses go bust.There are other factors as well, among them fears of another crackdown on the companies's Macau operations. But it's cyclical sentiment that has driven both stocks in recent years. Trading generally has been volatile -- but sideways on a net basis since the years immediately following the financial crisis.With another pullback of late thanks to the trade war and rate cut concerns, both stocks became cheaper. LVS, in particular, has an attractive dividend yield above 5%. Better macro news in both the U.S. and China, most notably a trade deal of some kind, could be a catalyst for both stocks to rally again. Micron Technology (MU)Source: Shutterstock Micron Technology (NASDAQ:MU) admittedly is a bit different than the other stocks on this list. MU stock isn't a cyclical stock in the sense that it's so directly impacted by the broader economy. Rather, supply and demand dynamics in its NAND and DRAM memory markets create sector-specific cycles.But those cycles are enormous. Micron actually lost $1 per share in fiscal 2012. In fiscal 2018, it earned nearly $12 on an adjusted basis. In FY20, analysts expect those profits will plunge to under $3.As a result, MU stock has been an absolute roller-coaster. It has risen over 500% twice. It has dropped by more than half twice.That volatility has continued of late: MU soared after an earnings beat in late June. It's starting to pull back again, however, and for what I believe is good reason. * 7 Stocks on Sale the Insiders Are Buying Part of the issue is that MU stock looked absurdly cheap last year, trading at times below 4x earnings. That's no longer the case, at least on a forward basis: the P/E multiple based on FY20 estimates is about 17x. Again, cyclical stocks should see their multiples expand near the bottom. But the question for Micron is whether this truly is a bottom -- and whether the 2018 peak was just a one-off confluence of factors that are unlikely to repeat. Lennar (LEN) and D.R. Horton (DHI)Source: Shutterstock Home builders Lennar (NYSE:LEN) and D.R. Horton (NYSE:DHI) are unsurprisingly sensitive to the U.S. economic cycle. Both stocks fell steadily throughout 2018 as cyclical worries made their way into housing-related stocks. Both have rallied this year, with LEN gaining 22% and DHI climbing by almost one-third.At the moment, both stocks look like straight bets on U.S. housing -- and there's a reason to take either side of the trade. If the economy turns, both companies and stocks are going to struggle. But there's also an increasing supply problem with housing in the U.S. in part due to a labor shortage. That suggests that Lennar and D.R. Horton have pent-up demand left to fill, which could keep profits rising for years to come barring an outright recession.At reasonable multiples -- LEN trades at 8x+ EPS, and DHI 10x+ -- both stocks will rise if their market outperforms expectations. But, as seen last year, it doesn't take much more than a change in sentiment to undercut the group, even when the stocks are cheap to begin with.As of this writing, Vince Martin has no positions in any securities mentioned. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Generation Z Stocks to Buy Long * 5 Growth Stocks to Buy After the Rate Cut * 5 Dependable Dividend ETFs to Invest In The post 10 Cyclical Stocks to Buy (or Sell) Now appeared first on InvestorPlace.
- Zacks
Should You Buy Wynn (WYNN) Ahead of Earnings?
Wynn (WYNN) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
- Yahoo Finance
Earnings, trade war — What to know in the week ahead
This week investors will be focused on the last wave of big earnings reports, as well as new trade war developments.
- Zacks
Wynn Resorts (WYNN) Gears Up for Q2 Earnings: A Beat in Store?
Wynn Resorts' (WYNN) second-quarter 2019 results are likely to be impacted Wynn Macau's dismal performance.
- Zacks
What's in Store for Caesars Entertainment (CZR) Q2 Earnings?
Caesars Entertainment's (CZR) top line in second-quarter fiscal 2019 is likely to be driven by robust consumer demand environment in Las Vegas and the company's focus on operation execution.
- Reuters
UPDATE 1-Macau casino revenues fall 3.5% y/y in July
Gambling revenue in the Chinese territory of Macau dropped 3.5% in July from a year earlier, due to tempered demand from high rollers amid a slowdown in the world's second-largest economy and a trade war with the United States. Revenue was 24.5 billion patacas ($3.04 billion) in July, Macau's Gaming Inspection and Coordination said on Thursday. The figure was just below analyst expectations of a 3% drop to 3% rise.
- Yahoo Finance Video
Macau gaming 'came back' last week: Bernstein
Bernstein Research says Macau gaming is coming back amid recent protests in Hong Kong. Yahoo Finance's Akiko Fujita and Heidi Chung discuss.
