SEHK:1128Hospitality
Wynn Macau (SEHK:1128) Stock Cheapens As Profitability Rises But Equity Stays Negative
Wynn Macau entered this earnings season with a casino recovery story and a stock that has drifted, down over the past week and roughly flat over three months, and then closed today at HK$5.70. The twist is that the latest half year showed solid profitability, with basic earnings per share at HK$0.30 and net income of HK$1,546.4m. The headline is less about a rebound in the share price and more about whether this level of earnings strength, on a P/E of about 10x, really aligns with a balance...