Investing

Earnings Previews: Kinross Gold, Unity Software, Wynn Resorts

Third-quarter revenue is expected to rise sequentially by 9.8% to $326.09 million and to rise about 13.9% year over year. The consensus estimate calls for a loss per share of $0.15 compared to a loss per share of $0.18 in the prior quarter and worse than a loss of $0.06 per share in the year-ago quarter. For the full year, analysts now expect Unity to post a loss per share of $0.43, worse than the year-ago loss of $0.22. Revenue is expected to rise by around 18.8% to $1.32 billion.

Unity is not expected to post a profit until 2024. The stock’s enterprise value to sales multiple for 2022 is 5.7. For 2023 and 2024, the multiple is 4.5 and 3.6, respectively. The stock’s 52-week range is $24.06 to $210.00. The company does not pay a dividend, and the total shareholder return for the past year was negative 84.8%.

Wynn Resorts

Shares of casino operator Wynn Resorts Ltd. (NASDAQ: WYNN) have dropped nearly 24% over the past 12 months. The better news is it could have been worse. In the first five weeks of the current quarter, shares have risen by nearly 15% as a result of two pieces of good news.

First, billionaire investor Tilman Fertitta revealed a 6% stake in the company. The second bit of good news arrived Monday, following a report that China finally may give up its zero-covid policy and loosen its strict lockdowns. There may be less there than meets the eye, but investors would like to have some good news from China, and they are hoping this is it.


Of 14 analysts covering the stock, half have a Buy or Strong Buy rating and the rest rate the shares at Hold. At a price of around $72.30 a share, the upside potential to the median price target of $77.00 is 6.5%. At the high target of $117.00, the upside potential is 61.8%.

Third-quarter revenue is expected to reach $867.42 million, up 4.6% sequentially but 12.8% lower year over year. The consensus estimate calls for a loss per share of $1.01, compared to a loss per share of $0.82 in the prior quarter and better than a loss of $1.24 per share in the year-ago quarter. For the full year, analysts now expect Wynn to post a loss per share of $3.74, much better than the year-ago loss of $6.12. Revenue is expected to rise by around 1.7% to $3.83 billion.

Wynn stock trades at 152.0 times estimated 2023 earnings of $0.48 and 25.5 times estimated 2024 earnings of $2.84 per share. The stock’s 52-week range is $3.00 to $7.13. The company does not pay a dividend. Total shareholder return for the past year was negative 23.8%.

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