Wynn (WYNN) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
As a swift and broad rally in Asian stock markets after China's reopening from COVID curbs peters out, investors are targeting beaten down stocks in sectors including retail, hospitality and technology to lead a narrower advance from here. The initial wave of optimism over the lifting of lockdowns in the world's second-largest economy lifted a host of trade and tourism stocks around the region, led predictably by the most obvious beneficiaries - sectors such as Macau hotels and Thailand tourism. "We believe the next phase of the market's recovery will be focused on companies that can deliver resilient earnings growth," said Robert Secker, portfolio specialist in the equity division at T. Rowe Price.
Wynn Resorts' (WYNN) fourth-quarter 2022 top line reflects dismal performance at Wynn Palace and Wynn Macau.