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Wynn Resorts (WYNN) is a Growth Stock You Can Bet On

Benjamin Rains
Updated

Sometimes investing is wrongly lumped in with gambling. Yet when investors are armed with the most vital fundamental company information and forward-looking metrics, investing transforms into something that is hardly akin to luck-based betting.

However, similar to the rush casinos offer, growth investing provides the potential for major returns. This is why many investors prefer to put their money in growth stocks instead of more value-focused plays.                              

Growth investing seems to have gotten even bigger as the rapid and massive rise of tech giants like Amazon AMZN and Netflix NFLX grab investors’ attention, and help spur the desire to find similar stocks with huge growth potential.

One stock that offers investors the chance for major growth, accompanied by actual business segment fundamentals, is Las Vegas-based gaming giant Wynn Resorts WYNN.

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Growth Fundamentals

Last week, Wynn beat both third-quarter earnings and revenue estimates. The casino powerhouse posted quarterly revenues of $1.61 billion and EPS of $1.52. The company’s increasingly important Macau revenues jumped 15.3% to $597.4 million, while Las Vegas operations popped almost 8% to $459.6 million (also read: Wynn Resorts (WYNN) Q3 Earnings Beat on Higher Revenues).

Shares of Wynn have skyrocketed over 65% since the start of the year, which crushes the S&P 500’s 13.38% growth. What’s more, the company’s stock price gained 13% in the last 12 weeks. Still, investors will be happy to know that Wynn currently sits 6% below its 52-week high, which means it has room to grow without the burden of passing through a new threshold.

The casino power is poised to keep on soaring this year with growth projections that could easily send its stock price up much higher.

Wynn is currently a Zacks Rank #1 (Strong Buy) that sports an “A” grade for both Growth and Momentum in our Style Scores system.

Wynn revenues are expected to surge over 16% in the fourth quarter, based on our current consensus estimates. For the full fiscal year, the company’s revenues are set to soar 36.45% to hit $6.09 billion.

Along with Wynn’s projected revenue gains, the company’s earnings are set to skyrocket almost 160% in the fourth-quarter. On top of that, Wynn’s earnings are set to climb over 50% for the full year to reach $5.13 per share.

Wynn has topped earnings estimates for the trailing three quarters, posting beats of 10.95%, 8.26%, and 67.57%, respectively.

Wynn Resorts, Limited Price, Consensus and EPS Surprise

Wynn Resorts, Limited Price, Consensus and EPS Surprise | Wynn Resorts, Limited Quote

For investors focused on growth, it seems relatively clear that Wynn presents the potential for large gains over the next quarter as its top and bottom lines are projected to surge.

When investors combine Wynn’s current Zacks Rank, VGM score, and earnings and revenue projections, it seems that growth-minded investors might look no further than this gambling stock that seems ready to experience more major wins down the road.

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