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Hong Kong stocks move | WYNN MACAU (01128) fell nearly 3% as the first quarter EBITDA did not meet market consensus expectations. Institutions expect the company's short-term profitability to be under pressure.
WYNN MACAU (01128) fell nearly 3%. As of the time of writing, it has dropped by 2.68%, priced at 5.44 Hong Kong dollars, with a transaction volume of 15.164 million Hong Kong dollars.
HTSC has lowered the Target Price of WYNN MACAU (01128.HK) to 6.8 Hong Kong dollars, and short-term profits may be under pressure.
HTSC released a research report indicating that WYNN MACAU (01128.HK) saw a 13% year-on-year decline in net income for the first quarter; adjusted EBITDA fell 26% year-on-year, returning to 65% of the 2019 level; EBITDA and EBITDA profit margin declined quarter-on-quarter, suggesting that short-term profits may be under pressure. The firm maintains a 'Buy' rating for the group, but considering the significant trend towards a more individual customer base after the transformation of the Gambling industry, and the group's relatively weak non-Gambling Business, it lowered the Target Price from 7 HKD to 6.8 HKD. The firm stated that Macau's average monthly Gambling revenue for the first quarter this year was less than 20 billion patacas, prompting a downgrade for WYNN MACAU for this and next year.
WYNN MACAU (01128) issued 0.39 million shares due to the exercise of Options.
WYNN MACAU (01128) announced that the company will grant participants under the share plan on May 8, 2025...
CICC: Maintain WYNN MACAU "Outperform Industry" rating, Target Price HKD 6.90.
CICC released a Research Report stating that the adjusted EBITDA forecasts for WYNN MACAU (01128) for 2025 and 2026 remain largely unchanged. The current stock price corresponds to 8.0 times the 2025 EV/EBITDA. The firm maintains an outperform rating for the Industry and a Target Price of HKD 6.90, which corresponds to 9.0 times the 2025 EV/EBITDA, indicating a 26% upside potential from the current stock price. CICC's main points are as follows: 1Q25 EBITDA fell short of market consensus expectations. WYNN MACAU announced its 1Q25 results on May 7, reporting net revenue of 0.866 billion USD, a decrease of 13% year-on-year and a decline of 7% quarter-on-quarter.
CITIC: Maintain WYNN MACAU (01128) "Outperform Industry" rating with a Target Price of HKD 6.90.
Management stated that tariff policies may affect and delay capital expenditure plans for the USA business but are not expected to impact capital and operating expenditures in the Macau region of China.
[Brokerage Focus] CICC maintains WYNN MACAU (01128) 'outperform the market' rating, stating that the poor win rates of WYNN MACAU and WYNN Palace have dragged down performance.
Jinwu Financial News | CICC Research Reports pointed out that WYNN MACAU (01128) has Q1 2025 EBITDA that fell short of market consensus expectations, with net revenue at $0.866 billion, down 13% year-on-year and down 7% quarter-on-quarter, recovering to 69% of Q1 2019; adjusted property EBITDA was $0.252 billion, down 26% year-on-year and down 14% quarter-on-quarter, recovering to 65% of Q1 2019, below the consensus expectation of $0.274 billion. The organization believes that the performance is mainly due to poor winning rates at WYNN MACAU and WYNN PALACE, along with a loss of market share; reinvestment rates slightly.