Wynn Resorts rallies after results, levels to watch Shares are up 5.8% at time of writing to $218.46 following stronger than expected results last night after the close. The company reported Q1 adjusted EPS of $2.32 versus consensus of $2.07. At current price, resistance is at $223.50. Support is at $212.87. Sterne Agee upgraded the shares to Buy. Deutsche Bank bumped its price target up to $265.
News For WYNN From The Last 14 Days
Check below for free stories on WYNN the last two weeks.
Macau estimates lowered at Morgan Stanle Morgan Stanley lowered Macau 2014 growth estimates to 6% from 12% and 2015 to 11% from 12.5% due to expectations for VIP trends to continue to deteriorate given the China macro impact and notes slowing mass growth rates.
Wynn unit to spend $20M on Macau casinos design work, Macau Business says Wynn Resorts' Wynn Macau unit is slated to spend $20.13M this year on design work for its casinos, Macau Business reports. This figure is double the amount the company originally planned. Reference Link