NEW YORK (TheStreet) -- Wynn Resorts (WYNN) - Get Report stock is tumbling by 1.61% to $94.43 in Wednesday's after-hours trading after the company reported fiscal 2015 second quarter earnings results that missed analysts' estimates.
For the latest quarter, the company reported earnings of 74 cents per share on revenue of $1.04 billion.
Analysts had forecast the company to post earnings of 96 cents per share on revenue of $1.07 billion.
In the same period in the previous year the company reported earnings of $2.11 per share on revenue of $1.41 billion.
The decline in revenue is due to a 35.8% net revenue drop from the company's Macau operations and a 6.2% decrease in net revenue from its Las Vegas operations, the company said.
Additionally, Wynn announced that it approved a cash dividend of 50 cents per share, which will be payable on August 20, 2015 to stockholders of record on August 11, 2015.
Shares of Wynn Resorts closed Wednesday's trading session down 2.02% to $96.03.
Based in Paradise, NV, Wynn Resorts develops, owns, and operates destination casino resorts. It operates in two segments, Macau Operations and Las Vegas Operations.
Separately, TheStreet Ratings team rates WYNN RESORTS LTD as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate WYNN RESORTS LTD (WYNN) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. Among the primary strengths of the company is its expanding profit margins over time. At the same time, however, we also find weaknesses including deteriorating net income, weak operating cash flow and feeble growth in the company's earnings per share."
You can view the full analysis from the report here: WYNN Ratings Report