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Wynn Resorts Q2 Earnings Miss the Mark (WYNN)

By Dividend.com,  July 17, 2012, 05:05:03 PM EDT

Casino operator Wynn Resorts, Limited ( WYNN ) on Tuesday posted lower-than-expected second quarter earnings, hurt by a downturn in its casinos in both Las Vegas and Macau.

The Las Vegas-based company reported second quarter net income of $138 million, or $1.37 per share, compared with $122 million, or 97 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was $1.38 per share.

Revenue fell more than 8% from last year to $1.25 billion.

On average, Wall Street analysts expected a much higher profit of $1.49 per share, on larger revenue of $1.33 billion.

Wynn Resorts shares were mostly flat in aftermarket trading Tuesday.

The Bottom Line
Shares of Wynn Resorts ( WYNN ) have a 2.05% dividend yield, based on today's closing stock price of $97.36. The stock has technical support in the $91-$94 price area. If the shares can firm up, we see overhead resistance around the $108-$110 price levels

Wynn Resorts, Limited ( WYNN ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: WYNN



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