Macau’s resort landscape has grown substantially in the last year, even though its gaming revenue has suffered so much since 2014. Fool contributor and former Macau local Seth McNew gives insights on what companies like Las Vegas Sands 10 stocks we like better than Wynn Resorts When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen.
Category: Wynn Resorts
Wynn Shares Skyrocket Despite Ugly Earnings Miss
Wynn Resorts shares jumped 7.6% to $102.80 in late trading Thursday despite the gaming company reporting a wide fourth-quarter earnings miss. The company reported a 37.3% increase in net revenue of $1.3 billion for the quarter with adjusted earnings of 50 cents a share, well short of analysts’ expectations for earnings of 67 cents a share.
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Depending on how you look at it, that could be a good or bad thing. Wynn also opened its most expensive resort ever, the $4.4 billion Wynn Palace in the Cotai region of Macau, which should eventually bring hundreds of millions of cash into the business each year.
Will Wynn Resorts, Limited Raise Its Dividend in 2017?
At as high as 7.5% dividend yield in the recent past , Wynn has since slashed its dividend to now just 2% over the trailing 12 months. Things are starting to look good for Wynn’s underlying business once more — could this lead to a dividend raise in the year ahead? Wynn Resorts stock rose massively in the run-up to 2014 thanks largely to the rise in Macau, the gaming mecca off the coast of Mainland China that, at its height, was earning around seven times the gaming revenue of Las Vegas.
3 Reasons Wynn Resorts, Limited Stock Could Rise
However, trading now at around $92, shares are still down drastically from over $250 in 2014. Here are three reasons the bull run the stock has been on in 2016 could continue.