Casino operator Wynn Resorts, Limited (WYNN) said late Thursday that its fourth-quarter loss narrowed from last year, and adjusted results beat analyst expectations.
The Las Vegas-based company reported a fourth-quarter net loss of $5.2 million U.S., or four cents U.S. per share, compared with a loss of $159.6 million U.S., or $1.49 U.S. per share, in the year-ago period. Excluding one-time charges, the company posted an adjusted profit of eight cents U.S. per share.
Revenue jumped 32% from last year, to $809.3 million U.S.
On average, Wall Street analysts expected a smaller adjusted profit of six cents U.S. per share, on lower revenue of $784.7 million U.S.
Wynn shares were mostly flat in premarket trading Friday.
The Bottom Line
Shares of WYNN have a dividend yield of 1.27%, based on last night's closing stock price of $62.80 U.S. The stock has technical support in the $58-$60 U.S. price area. If the shares can firm up, there could be overhead resistance around the $67-$70 U.S. price levels. But many experts would remain on the sidelines for now.
Wynn Resorts, Limited (WYNN) is not recommended at this time, holding a Dividend.com DARS Rating of 3.4 out of 5 stars.
