Wynn Resorts, Limited (NASDAQ:WYNN) announced preliminary expectations of its financial results for the fourth quarter and year ended December 31, 2015. The results in this release are preliminary and subject to the completion of the final financial statements, including the review of those financial statements by the Company’s internal accounting professionals and the Company’s audit committee and the audit by the Company’s independent registered public accounting firm.

Macau Operations

In the fourth quarter of 2015, net revenues are expected to be in the range of $552 million to $560 million, compared to$761.2 million generated in the fourth quarter of 2014. On a GAAP basis, operating income for the fourth quarter of 2015 is expected to be in the range of $75 million to $83 million, compared to $157.6 million for the fourth quarter of 2014. Adjusted property EBITDA (1) is expected to be in the range of $156 million to $164 million in the fourth quarter of 2015, compared to $241.2 million for the fourth quarter of 2014.

For the full year, net revenues are expected to be in the range of $2,459 million to $2,467 million, compared to $3,796.8 million generated in 2014. On a GAAP basis, operating income for 2015 is expected to be in the range of $382 million to $390 million, compared to $895.2 million in 2014. For 2015, adjusted property EBITDA is expected to be in the range of$705 million to $713 million, compared to $1,258.1 million for 2014.

Las Vegas Operations

In the fourth quarter of 2015, net revenues are expected to be in the range of $387 million to $395 million, compared to$376.8 million generated in the fourth quarter of 2014. On a GAAP basis, operating income for the fourth quarter of 2015 is expected to be in the range of $56 million to $64 million, compared to $51.6 million for the fourth quarter of 2014. Adjusted property EBITDA is expected to be between $123 million and $131 million for the fourth quarter of 2015, compared to $111.2 million for the fourth quarter of 2014.

For the full year, net revenues are expected to be in the range of $1,609 million to $1,617 million, compared to $1,636.9 million generated in 2014. On a GAAP basis, operating income for 2015 is expected to be in the range of $215 million to $223 million, compared to $270.5 million in 2014. For 2015, adjusted property EBITDA is expected to be in the range of$473 million to $481 million, compared to $515.2 million for 2014. (Original Source)

Shares of Wynn Resorts Limited closed yesterday at $51.5 . WYNN has a 1-year high of $160.41 and a 1-year low of $49.95. The stock’s 50-day moving average is $64.47 and its 200-day moving average is $75.54.

On the ratings front, Wynn has been the subject of a number of recent research reports. In a report issued on January 7, CLSA analyst Jon Oh maintained a Buy rating on WYNN, with a price target of $88, which represents a potential upside of 70.9% from where the stock is currently trading. Separately, on December 31, Wells Fargo’s Cameron Mcknight reiterated a Hold rating on the stock .

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jon Oh and Cameron Mcknight have a total average return of -14.2% and 4.8% respectively. Oh has a success rate of 0.0% and is ranked #2553 out of 3607 analysts, while Mcknight has a success rate of 37.8% and is ranked #868.

Overall, 3 research analysts have assigned a Hold rating and 3 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $74.00 which is 43.7% above where the stock closed yesterday.

Wynn Resorts Ltd is a developer, owner and operator of destination casino resorts. It owns and operates two destination casino resorts namely Wynn Las Vegas and Encore at Wynn Macau.