May 07, 2012 at 16:42 PM EDT
Wynn Resorts Q1 Profit and Revenue Miss the Mark (WYNN)

Casino/resort operator Wynn Resorts, Limited (WYNN) late Monday posted first quarter earnings results that declined from last year, missing Wall Street’s expectations.

The Las Vegas-based company reported first quarter net income of $140.6 million, or $1.23 per share, compared with $173.8 million, or $1.39 per share, in the year-ago period. Excluding special items, adjusted profit was $1.33 per share.

Revenue rose 4% from last year to $1.314 billion.

On average, Wall Street analysts expected a larger profit of $1.41 per share, on slightly higher revenue of $1.33 billion.

Wynn Resorts shares closed down $2.21, or -1.7%, in Monday trading.

The Bottom Line
Shares of Wynn Resorts (WYNN) have a 1.60% dividend yield, based on today’s closing stock price of $124.97. The stock has technical support in the 110-$120 price area. If the shares can firm up, we see overhead resistance around the $130-$140 price levels.

Wynn Resorts, Limited (WYNN) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 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.

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