128.55 +0.19 (0.15%)
After hours: 5:28PM EST
|Bid||128.02 x 1200|
|Ask||128.50 x 1100|
|Day's Range||124.88 - 128.93|
|52 Week Range||90.06 - 202.48|
|Beta (3Y Monthly)||1.29|
|PE Ratio (TTM)||23.51|
|Earnings Date||Apr 22, 2019 - Apr 26, 2019|
|Forward Dividend & Yield||3.00 (2.43%)|
|1y Target Est||135.06|
Bounce back stocks. Time to trade or fade? With CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Karen Finerman, Steve Grasso and Guy Adami.
David Bonnet of Delta State Holdings says the gaming industry in Asia generates "outsized returns" and is a sector where huge investment can be justified.
Police in the world's biggest gambling hub of Macau are investigating what they suspect is a rare murder in a five-star casino resort after a Chinese man was found stabbed in his bed, broadcaster TDM reported on Monday. Murder cases have been rare in the Chinese territory since Portugal ceded control of what had been a colonial backwater on the heel of China's southern coast 20 years ago. The suspected murder took place in Sands China's Conrad Macau hotel, TDM reported, citing police.
MGM Resorts beat analysts’ forecasts for its latest earnings, but its shares are falling anyway. Management said it would no longer provide formal guidance to analysts about the outlook for coming quarters.
MGM Resorts' (MGM) fourth-quarter earnings and revenues are favored by increased revenues at the company's China, and domestic operations.
Investing.com - Canada Goose shares plunged midday Thursday, despite blowout earnings, leaving Wall Street watchers a bit puzzled as to why this high-flying stock was shot down.
Consumer discretionary stocks were among the worst performers after US retail sales dropped by 1.2 per cent month-on-month in December, a critical time during the festive shopping season, and helping to justify the Federal Reserve’s recent pledge of patience towards future interest rate rises.
Martin Lipton, Founding Partner of Wachtell, Lipton, Rosen & Katz By John Jannarone It’s time to get over the idea that shareholder returns are a corporation’s only concern. That’s a central tenet of The New Paradigm, a progressive approach to corporate governance designed by Martin Lipton, Founding Partner of Wachtell, Lipton, Rosen & Katz. In […]
Chinese visitors to Macau boomed during the Lunar New Year holiday, but how much did they bet? Macau-focused casino stocks were mixed.
It's been a rough year for Wynn Resorts (NASDAQ:WYNN). After several years of slumping revenues in the Macau market, Wynn stock looked poised to finally make new all-time highs in 2018. But then the trade war with China hit. Fortunately, Wynn's China situation isn't as bad as the market seems to think, In fact, an end to the trade war could be an extremely bullish near-term catalyst for WYNN.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Best Dividend Stocks to Buy for the Next 10 Months Wynn Stock and ChinaWynn may not seem like an obvious victim of the trade war, but Wynn needs a healthy Chinese economy. In the fourth quarter, Wynn generated $1.29 billion in revenue from its two casinos in Macau, China. That same quarter, Wynn's U.S. operations in Las Vegas generated just $393.6 million in revenue. In other words, 76 percent of Wynn's total operating revenue last quarter came from Macau. Wynn may be an American company, but three fourths of its business comes from China.Trade war aside, Macau has been a roller coaster ride for casino investors in the past decade. A period of booming growth in Macau from 2007 to 2014 sent Wynn stock up 170 percent. However the government decided to crack down on corruption in Macau and, after peaking in February 2014, gross gaming revenue growth took a nosedive. As a result, Macau and Wynn investors endured a streak of 26 consecutive months of GGR declines in Macau. By the time the losing streak ended in September 2016, Wynn stock was down more than 60 percent from its 2014 highs.Entering 2019, Macau has once again been on a winning streak, registering 14 percent GGR growth in 2018 and riding a new streak of 29 consecutive months of growth. That streak ended in January, when Macau reported a 5 percent GGR decline. How Bad Is Wynn's China Situation?While investors wait for the February GGR numbers to see if January was an outlier or a new trend in Macau, they can take comfort in the fourth-quarter numbers. Wynn's Las Vegas revenue was up 3.1 percent from a year ago, while its Macau revenue was up 4.3 percent.Wynn also issued a 50 percent dividend hike, its first dividend increase since it slashed its dividend by 80 percent back in late 2014.There's no question the slowdown in Macau has been largely influenced by the slowdown in the overall Chinese economy. Chinese consumers are rightfully concerned about the impact of the trade war. When consumers are concerned, discretionary spending on activities like gambling is often the first to be cut.However, even a slowing Chinese economy logged 6.4 percent GDP growth in the fourth quarter, well above the "booming" U.S. GDP growth of 3.5 percent last quarter. Positive Catalysts and Wynn StockPresident Donald Trump has made it clear that he will hold China's feet to the fire when it comes to negotiating a better trade deal. However, the trade war is negatively impacting both Chinese and American companies. U.S. earnings were down overall in the fourth quarter, and a trade deal is in the best interest of both nations. Trump has set an early March deadline to reach some sort of deal or he has said he would ramp up U.S. tariffs on China. Higher tariffs would certainly provoke some sort of retaliation from China, and there would be a real risk to the U.S. economy.The U.S. and China may not reach a concrete deal by the March 1 deadline, but it wouldn't be surprising to see Trump agree to an extension of the deadline given good faith negotiations by China. Even in a worst-case scenario in which the U.S. and China ramp up the trade war next month, it would create a situation where both governments would be under a new level of intense scrutiny as the fallout from the trade war pressures both nations' economies.Whether it happens this month, this year or next year, it seems unlikely that Trump will carry on this trade war through the 2020 U.S. elections. Assuming the trade war comes to an end at some point, stocks with exposure to China, such as Wynn, should get a huge boost in sentiment. An end to the trade war takes the worst-case scenario off the table. As of this writing, Wayne Duggan held no positions in the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Fundamentally Sound Dividend Stocks to Buy * 5 Reasons Reeling FAANG Stocks Won't Deliver Big Returns * 3 Reasons Canopy Growth Could Burn You Compare Brokers The post Wynn Stock May Be over the Worst of Its Trade War Weakness appeared first on InvestorPlace.
A run of good fortune for the world’s top casino operators is coming to a halt as high-rollers feel the pinch from China’s economic slowdown. Industry analysts are bearish on prospects for casinos in Macau, the southern Chinese territory that is the world’s largest gambling hub. Sluggish Chinese economic growth and overhanging trade tensions with the U.S. have led wealthy gamblers who make up more than half of Macau’s wagers to moderate their betting habits.
Wynn Resorts Ltd NASDAQ/NGS:WYNNView full report here! Summary * ETFs holding this stock have seen outflows over the last one-month * Bearish sentiment is low Bearish sentimentShort interest | PositiveShort interest is low for WYNN with fewer than 5% of shares on loan. The last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment among investors who seek to profit from falling equity prices. Money flowETF/Index ownership | NegativeETF activity is negative. Over the last one-month, outflows of investor capital in ETFs holding WYNN totaled $20.88 billion. Additionally, the rate of outflows appears to be accelerating. Economic sentimentPMI by IHS Markit | NeutralAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Consumer Services sector is rising. The rate of growth is weak relative to the trend shown over the past year, however. Credit worthinessCredit default swapCDS data is not available for this security.Please send all inquiries related to the report to email@example.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
Wynn Resorts has been a big winner in the recent market rally. Wynn calls traded at six times their average daily volume on Tuesday, highlighting a surge in positive sentiment around a company that was mired in scandal for much of 2018. One trader in particular seems to think Wynn is headed for a huge breakout, as broken down by RiskReversal.com's Dan Nathan.
Gambling revenue in the Chinese territory of Macau dropped 5 percent in January, the first drop in more than two years, as appetite for gambling waned amid slowing economic growth and increased headwinds from the Sino-U.S. trade war. The special administrative region reported 24.9 billion patacas ($3 billion) revenue, compared with 26.3 billion patacas a year ago, Macau's Gaming Inspection and Coordination said on Friday. The total revenue figure of 24.9 billion patacas dropped month on month from December last year but was the same as November's monthly figure.
The special administrative region reported 24.9 billion patacas ($3 billion) revenue, versus 26.3 billion patacas a year ago, Macau's Gaming Inspection and Coordination said on Friday. Macau, located on China's southern coast and the country's only legal casino hub, is highly reliant on gambling revenues for its finances, with taxes from the casinos accounting over 80 percent of the government's revenue.