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TheStreet Open House

Why Wynn Resorts (WYNN) Stock Is Up In Pre-Market Trading Today

NEW YORK (TheStreet) -- Wynn Resorts (WYNN) shares are up 4% to $214.90 in pre-market trading on Friday following a ratings upgrade from analysts at Stern Agee.

The firm upgraded the destination casino operator to "buy" from "neutral" citing the recent market pullback on the company's shares as a reason for the upgrade.

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"Shares are down 9% since April 1 and 17% from their 52-week high due to chiefly unfounded Macau VIP market concerns. We have been waiting for a good entry point and believe this is it," said analyst David Bain.

Wynn Resorts reported yesterday that it had beat analysts earnings guidance by 26 cents during its first quarter earnings period.

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Separately, TheStreet Ratings team rates WYNN RESORTS LTD as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate WYNN RESORTS LTD (WYNN) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • The revenue growth came in higher than the industry average of 4.8%. Since the same quarter one year prior, revenues rose by 17.9%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • Powered by its strong earnings growth of 90.90% and other important driving factors, this stock has surged by 62.07% over the past year, outperforming the rise in the S&P 500 Index during the same period. Regarding the stock's future course, although almost any stock can fall in a broad market decline, WYNN should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
  • WYNN RESORTS LTD reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, WYNN RESORTS LTD increased its bottom line by earning $7.17 versus $4.81 in the prior year. This year, the market expects an improvement in earnings ($8.32 versus $7.17).
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Hotels, Restaurants & Leisure industry. The net income increased by 92.0% when compared to the same quarter one year prior, rising from $111.37 million to $213.88 million.
  • Net operating cash flow has significantly increased by 101.19% to $395.31 million when compared to the same quarter last year. In addition, WYNN RESORTS LTD has also vastly surpassed the industry average cash flow growth rate of -78.76%.
  • You can view the full analysis from the report here: WYNN Ratings Report
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