Wynn Resorts, Limited (NASDAQ:WYNN) Announces Quarterly Dividend of $0.25

Wynn Resorts, Limited (NASDAQ:WYNN) declared a quarterly dividend on Monday, November 4th, Zacks reports. Stockholders of record on Friday, November 15th will be paid a dividend of 0.25 per share by the casino operator on Wednesday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Friday, November 15th.

Wynn Resorts has decreased its dividend payment by an average of 9.1% per year over the last three years. Wynn Resorts has a dividend payout ratio of 18.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Wynn Resorts to earn $5.48 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 18.2%.

Wynn Resorts Price Performance

WYNN stock traded down $0.32 during midday trading on Wednesday, reaching $86.40. 1,189,082 shares of the stock were exchanged, compared to its average volume of 2,150,827. Wynn Resorts has a 52 week low of $71.63 and a 52 week high of $110.38. The company has a fifty day moving average price of $90.38 and a 200 day moving average price of $88.69. The stock has a market capitalization of $9.59 billion, a PE ratio of 10.69, a P/E/G ratio of 2.48 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.11). The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.73 billion. Wynn Resorts had a negative return on equity of 62.44% and a net margin of 13.37%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.99 earnings per share. As a group, analysts anticipate that Wynn Resorts will post 5.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on WYNN shares. Morgan Stanley lifted their price target on shares of Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Wells Fargo & Company reduced their price target on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Tuesday. Macquarie restated an “outperform” rating and set a $120.00 price objective on shares of Wynn Resorts in a research report on Tuesday. UBS Group upgraded Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. Finally, Stifel Nicolaus lowered their price target on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a report on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $115.71.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the completion of the sale, the director now owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.52% of the company’s stock.

About Wynn Resorts

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.