Wynn Resorts ($WYNN) Stock | Stock Climbs Despite Revenues Missing Expectations


Wynn Resorts (NASDAQ: WYNN)



Wynn Resorts, Limited (WYNN), a casino resorts company on Friday announced their preliminary 2015 fourth quarter and full year financial results. WYNN expects their Macau fourth quarter revenues to be in the range of $552 million and $560 million compared to $761.2 million from last year’s fourth quarter. WYNN expects their Las Vegas fourth quarter revenue to be in the range of $387 million to $395 million compared to $376.8 million from last year.  Making that a total fourth quarter revenues expectations of $939 million and $955 million, which comes in below analyst expectations of $963.22 million.


WYNN Technical Analysis

WYNN Chart

WYNN gapped up in price Friday to $53.16, up from the prior day’s close of $51.50, which is a 3% increase in price. Taking a look at the daily chart, we can see the last time WYNN traded above this price level was on January 12th when it traded at $55.62. Taking a closer look at the daily chart we can see that WYNN has been on decline dating back to January 5th when it was trading at $70.07, or equivalent to a 36% drop in price. Before the drop in price WYNN was in a trading range in between $60 and $75 dating back to October 2nd. WYNN hit its 52 week low price of $49.95 on Thursday January 14th.  WYNN could be looking at a double bottom, back on October 1st it reached lows of $50.96 and on January 14th hit lows of $49.95. Last time it reached these lows on October 1st it rallied to $75.91 on October 8th, or equivalent to 49%. WYNN has a float of 79.83 million shares and is trading almost 2 times the normal daily trading volume. WYNN did reach pre market highs of $54.90, but gave back $1.74 at the open, or equivalent to 3%. For trading purposes, my entry point would have been $53.25 looking for a run to $55. My stop loss would have been $53, fearing anything below that and the stock would start to fill in the gap up.   


Company Profile

Wynn Resorts, Limited, together with its subsidiaries, develops, owns, and operates destination casino resorts. It operates in two segments, Macau Operations and Las Vegas Operations. The company operates Wynn Macau and Encore at Wynn Macau resort located in the People’s Republic of China. As of February 13, 2015, its Macau resorts feature had approximately 284,000 square feet of casino space, which offered 24-hour gaming and a range of games with 498 table games and 625 slot machines, private gaming salons, sky casinos, and a poker; 2 luxury hotel towers with a total of 1,008 guest rooms and suites; casual and fine dining in 8 restaurants; approximately 57,000 square feet of retail shopping, including stores and boutiques; approximately 31,000 square feet of space for lounges and meeting facilities; recreation and leisure facilities, including two health clubs, spas, a salon, and a pool; and the Rotunda show. The company also owned and operated Wynn Las Vegas and Encore at Wynn Las Vegas resort with a total of 4,748 hotel rooms, suites, and villas; 232 table games; 1,849 slot machines; a race and sports book and poker room in approximately 186,000 square feet of casino gaming space, including a sky casino and private gaming salons; 34 food and beverage outlets; 2 spas and salons; lounges; and approximately 99,000 square feet of retail shopping space. Its Las Vegas resorts also offer 3 nightclubs and a beach club; a Ferrari and Maserati automobile dealership; wedding chapels; an 18-hole golf course; approximately 290,000 square feet of meeting and convention space; a theater; and two showrooms, as well as a water-based theatrical production and entertainment production. Wynn Resorts, Limited was founded in 2002 and is based in Las Vegas, Nevada.  Yahoo Finance