Wynn Resorts Ltd (WYNN) current short interest stands at 0.04 million shares. They now have a $115.66 price target on the stock. Wynn Resorts Ltd. has dropped 33.06% during the last 3-month period.
Wynn Resorts, Limited was downgraded by analysts from a “strong-buy” rating to a “buy” rating. Property prices have increased dramatically, forcing many small and mid-sized businesses into bankruptcy and pushing some residents to share accommodation or move away completely. The stock has a market capitalization of $6.93 billion and a price-to-earnings ratio of 22.22.
We estimate the company’s 2015 revenues to be around $4.60 billion and its earnings per share to be $3.91, as compared to $3.31. The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th.
Wynn Resorts said Dore was an independent, registered and licensed gaming promoter. The 52-week high of the share price is $192.45 and the 52-week low is $67.24. Many will think that Wynn’s shares are now oversold. Macau’s casino gambling market started to contract in the following weeks.
Goldman Sachs reiterated their Buy stance on May 18, and decreased their price target from $154 to $145. The business’s revenue for the quarter was down 26.3% on a year-over-year basis. Stockholders of record on Tuesday, August 11th were given a dividend of $0.50 per share. The ex-dividend date was Friday, August 7th. Brean Capital restated a buy rating and set a $128.00 price objective (down previously from $136.00) on shares of Wynn Resorts, Limited in a research note on Friday, July 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.95%.
Wynn Resorts Ltd., which has seen its stock price tumble more than 65 percent in the last few months over troubles plaguing the Macau gaming market, said Monday that funds stolen from a high-end Chinese junket operator had nothing to do with the company’s casino operations. However, Dore does run some 25 high roller tables in two VIP rooms at the casino and accounts for around five percent of the junket operations in Macau, the largest gambling destination in the world.
The amount stolen from junket operator Dore Entertainment, which acts as a middleman for high rollers, could range from HK$200 million to HK$2 billion, according to a report by Daiwa Capital Markets analysts led by Jamie Soo.
“That sort of relationship is all the time weak to assault”, Derk Boss, a on line casino safety marketing consultant in Las Vegas, advised the enterprise publication.
Asked about the Dore case, Macau’s Secretary for Economy and Finance, Lionel Leong Vai Tac – whose portfolio includes the city’s gaming sector – said he had already ordered the gaming regulator to follow up on the case. The business operates through two segments: Macau Businesses, which includes Wynn Macau and Encore at Wynn Maca, and Las Vegas Operations, which comprises Wynn Las Vegas and Encore at Wynn Las Vegas.
Operating as third parties, junkets are a vital factor in Macau’s casino industry.