WYNN's focus on UAE expansion and innovative initiatives in Macau bode well. However, increased operating expenses are a concern.
The decline in Wynn shares since "soft" 3Q results opens up an opportunity to buy undervalued assets. The actual numbers cited in 3Q are marginal declines that fit the historic trading pattern of the stock. The key here has always been resiliency and superior assets.
Billionaire Tilman Fertitta has increased his ownership stake in Wynn Resorts to 9.9%, according to a filing with the Securities and Exchange Commission. The filing indicates a passive position, though multiple people familiar with the matter tell CNBC they suspect Fertitta will be demanding.
I believe Wynn Resorts' recent price drop may present a buying opportunity, despite soft Q3 earnings, as the company remains fundamentally strong. Buying assets cheaply insulates against market volatility; Wynn's shares were inexpensive when I bought, mitigating the impact of recent earnings. The latest financial results are decent in a historical context, but the stock isn't objectively cheap compared to safer alternatives like the 10-Year Treasury Note.
Wynn is losing market share in Macao, the biggest gaming market in the world.
Shares of Wynn Resorts (WYNN) slumped Tuesday after the hotel and casino operator posted third-quarter results that missed analysts' estimates as its Las Vegas operations slowed.
WYNN's third-quarter 2024 results reflect solid resort demand trends across its portfolio amid high expenses.
Although the revenue and EPS for Wynn (WYNN) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Wynn Resorts, Limited (NASDAQ:WYNN ) Q3 2024 Earnings Conference Call November 4, 2024 4:30 PM ET Company Participants Julie Cameron-Doe - CFO Craig Billings - CEO Brian Gullbrants - COO, North America Conference Call Participants Carlo Santarelli - Deutsche Bank Joe Greff - JPMorgan John DeCree - CBRE Robin Farley - UBS Dan Politzer - Wells Fargo Stephen Grambling - Morgan Stanley David Katz - Jefferies Brandt Montour - Barclays Operator Welcome to the Wynn Resorts' Third Quarter 2024 Earnings Call. All participants are on a listen-only mode until the question-and-answer session of today's conference.
Wynn Resorts (WYNN) came out with quarterly earnings of $0.90 per share, missing the Zacks Consensus Estimate of $1.17 per share. This compares to earnings of $0.99 per share a year ago.
WYNN's third-quarter 2024 results are likely to be aided by increased visitor numbers and demand, especially in Las Vegas and Macau.
Beyond analysts' top -and-bottom-line estimates for Wynn (WYNN), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended September 2024.