Luxury hotels and casino operator Wynn Resorts (NASDAQ: WYNN) will be announcing earnings results this Thursday after market hours. Here’s what to look for.
Wynn Resorts beat analysts’ revenue expectations last quarter, reporting revenues of $1.87 billion, up 1.5% year on year. It was a softer quarter for the company, with a significant miss of analysts’ EPS estimates and a miss of analysts’ EBITDA estimates.
Is Wynn Resorts a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Wynn Resorts’s revenue to grow 7.3% year on year, a reversal from the 8.7% decrease it recorded in the same quarter last year.
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 multiple times over the last two years.
Looking at Wynn Resorts’s peers in the consumer discretionary - casino operator segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Monarch delivered year-on-year revenue growth of 8.9%, beating analysts’ expectations by 5.2%, and PENN Entertainment reported revenues up 6.4%, topping estimates by 1.7%. Monarch traded up 15.9% following the results while PENN Entertainment was also up 16.7%.
Read our full analysis of Monarch’s results here and PENN Entertainment’s results here.
There has been positive sentiment among investors in the consumer discretionary - casino operator segment, with share prices up 6% on average over the last month. Wynn Resorts is up 3.2% during the same time and is heading into earnings with an average analyst price target of $139.83 (compared to the current share price of $106.00).
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