Wynn Resorts, Limited Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Wynn Resorts, Limited (NASDAQ:WYNN) will unveil its latest earnings on Wednesday, October 19, 2011. Wynn Resorts is a developer, owner and operator of destination casino resorts. It owns and operates three: Wynn Las Vegas, Encore at Wynn Las Vegas, and Wynn Macau.

Wynn Resorts, Limited Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of $1.18 per share, a rise of more than threefold from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 92 cents. Between one and three months ago, the average estimate moved up. It has been unchanged at $1.18 during the last month. For the year, analysts are projecting profit of $5.51 per share, a rise of more than twofold from last year.

Past Earnings Performance: The company missed estimates last quarter after beating forecasts in the prior two. In the second quarter, the company reported net income of 97 cents per share versus a mean estimate of profit of 99 cents per share. In the first quarter, the company beat estimates by 65 cents.

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Wall St. Revenue Expectations: On average, analysts predict $1.29 billion in revenue this quarter, a rise of 27.7% from the year ago quarter. Analysts are forecasting total revenue of $5.33 billion for the year, a rise of 27.5% from last year’s revenue of $4.18 billion.

Analyst Ratings: 12 out of 22 analysts surveyed (54.5%) have a buy rating on Wynn Resorts.. This is below the mean analyst rating of nine competitors, which average 66.7% buy ratings. Over the past 90 days, the average rating for the stock has moved up from hold to moderate buy.

A Look Back: In the second quarter, profit rose more than twofold to $122 million (97 cents a share) from $52.4 million (42 cents a share) the year earlier, but fell short analyst expectations. Revenue rose 32.4% to $1.37 billion from $1.03 billion.

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past four quarters. Over that span, the company has averaged growth of 38.5%, with the biggest boost coming in the fourth quarter of the last fiscal year when revenue rose 52.9% from the year earlier quarter.

Competitors to Watch: Las Vegas Sands Corp. (NYSE:LVS), MGM Resorts International. (NYSE:MGM), Pinnacle Entertainment, Inc (NYSE:PNK), Melco Crown Entertainment Ltd (NASDAQ:MPEL), Boyd Gaming Corporation (NYSE:BYD), Riviera Holdings Corp. (RVHLQ), Archon Corporation (ARHND), Asia Entertainment & Resources Ltd. (NASDAQ:AERL), and Monarch Casino & Resort, Inc. (NASDAQ:MCRI).

Stock Price Performance: During July 21, 2011 to October 14, 2011, the stock price had fallen $28.78 (-17.6%) from $163.26 to $134.48. The stock price saw one of its best stretches over the last year between June 24, 2011 and July 8, 2011 when shares rose for 10-straight days, rising 22.7% (+$29.73) over that span. It saw one of its worst periods between December 1, 2010 and December 14, 2010 when shares fell for 10-straight days, falling 4.9% (-$5.15) over that span. Shares are up $31.31 (+30.3%) year to date.

(Source: Xignite Financials)

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