We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Strength Seen in Wynn (WYNN): Can Its 8.2% Jump Turn into More Strength?
Read MoreHide Full Article
Wynn Resorts (WYNN - Free Report) shares ended the last trading session 8.2% higher at $91.03. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 11.7% gain over the past four weeks.
Shares of Wynn Resorts appreciated after a report revealed that the number of high-stakes gamblers in China is on the rise, with many placing increasingly larger bets. The stock also benefited from China's recent announcement of its largest stimulus measures since the pandemic.
This casino operator is expected to post quarterly earnings of $1.17 per share in its upcoming report, which represents a year-over-year change of +18.2%. Revenues are expected to be $1.74 billion, up 3.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Wynn, the consensus EPS estimate for the quarter has been revised 0.9% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on WYNN going forward to see if this recent jump can turn into more strength down the road.
Wynn is part of the Zacks Gaming industry. Monarch Casino (MCRI - Free Report) , another stock in the same industry, closed the last trading session 2.6% higher at $78.94. MCRI has returned 1.8% in the past month.
For Monarch Casino, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.37. This represents a change of -0.7% from what the company reported a year ago. Monarch Casino currently has a Zacks Rank of #3 (Hold).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Strength Seen in Wynn (WYNN): Can Its 8.2% Jump Turn into More Strength?
Wynn Resorts (WYNN - Free Report) shares ended the last trading session 8.2% higher at $91.03. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 11.7% gain over the past four weeks.
Shares of Wynn Resorts appreciated after a report revealed that the number of high-stakes gamblers in China is on the rise, with many placing increasingly larger bets. The stock also benefited from China's recent announcement of its largest stimulus measures since the pandemic.
This casino operator is expected to post quarterly earnings of $1.17 per share in its upcoming report, which represents a year-over-year change of +18.2%. Revenues are expected to be $1.74 billion, up 3.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Wynn, the consensus EPS estimate for the quarter has been revised 0.9% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on WYNN going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Wynn is part of the Zacks Gaming industry. Monarch Casino (MCRI - Free Report) , another stock in the same industry, closed the last trading session 2.6% higher at $78.94. MCRI has returned 1.8% in the past month.
For Monarch Casino, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.37. This represents a change of -0.7% from what the company reported a year ago. Monarch Casino currently has a Zacks Rank of #3 (Hold).