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WYNN

Wynn Resorts

$148.00

-0.53 (-0.36%)

08:01
08/14/18
08/14
08:01
08/14/18
08:01

Wynn Resorts downgraded to Hold from Buy at Jefferies

Jefferies analyst David Katz downgraded Wynn Resorts to Hold and lowered his price target for the shares to $170 from $229. The recent board additions and standstill agreement with the largest shareholder reduces the "speculative premium in the shares," Katz tells investors in a research note. He believes the changes suggest the ownership structure is not likely to change for two years. Further, competition in Macau is likely to remain a "persistent dynamic," the analyst adds.

WYNN Wynn Resorts
$148.00

-0.53 (-0.36%)

08/07/18
ARGS
08/07/18
DOWNGRADE
ARGS
Hold
Wynn Resorts downgraded to Hold from Buy at Argus
08/07/18
ARGS
08/07/18
DOWNGRADE
ARGS
Hold
Wynn Resorts downgraded to Hold at Argus on Macau revenue concerns
As reported earlier, Argus analyst John Staszak downgraded Wynn Resorts to Hold after its Q2 earnings miss, saying the gross gaming revenue in Macau has now missed consensus forecasts for the months of June and July. The analyst adds that he is worried about potential cannibalization of Wynn Macau by Wynn Palace, the impact of China government's money laundering efforts, and a casino smoking ban, along with rising compensation costs pressuring margins. As part of his research note, Staszak also lowers his FY18 EPS forecast on Wynn to $7.40 from $8.10 and FY19 forecast to $9.10 from $9.50.
08/07/18
08/07/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Zillow (Z, ZG) downgraded to Neutral from Buy at BofA/Merrill with analyst Nat Schindler saying the quarter indicated Zillow is taking longer than expected to ramp up the Homes business, Rentals revenue missed and the outlook cut, and other revenue also missed, indicating new construction opportunity is also taking longer to materialize. 2. CBS (CBS) downgraded to Hold from Buy at Argus with analyst Joseph Bonner citing significant downside risks for the company from both the sexual harassment allegations against CEO Moonves and the board's attempts to prevent the Viacom (VIAB) merger. 3. Extraction Oil & Gas (XOG) downgraded to Neutral from Outperform at Macquarie with analyst Paul Grigel citing increased risk from Colorado Initiative 97. 4. Wynn Resorts (WYNN) downgraded to Hold from Buy at Argus with analyst John Staszak citing its Q2 earnings miss, saying the gross gaming revenue in Macau has now missed consensus forecasts for the months of June and July. 5. Dentsply Sirona (XRAY) downgraded to Neutral from Outperform at Baird. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/13/18
FBCO
08/13/18
INITIATION
Target $155
FBCO
Neutral
Wynn Resorts initiated with a Neutral at Credit Suisse
Credit Suisse analyst Cameron McKnight started Wynn Resorts with a Neutral rating and $155 price target. The company;s is levered to Macau's growth, but the short-term outlook for the region is "less certain," the analyst contends. Further, a breakup or sale of the company is "not assured, and not necessarily accretive," McKnight tells investors in a research note.

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