Wynn Resorts, Limited (WYNN) to Issue Quarterly Dividend of $0.25 on March 5th

Wynn Resorts, Limited (NASDAQ:WYNN) announced a quarterly dividend on Friday, February 14th,Wall Street Journal reports. Stockholders of record on Monday, February 24th will be given a dividend of 0.25 per share by the casino operator on Wednesday, March 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Monday, February 24th.

Wynn Resorts has a payout ratio of 17.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Wynn Resorts to earn $4.89 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 20.4%.

Wynn Resorts Stock Up 10.4 %

NASDAQ WYNN opened at $88.82 on Friday. The company’s 50 day moving average is $85.66 and its 200-day moving average is $86.86. Wynn Resorts has a 12-month low of $71.63 and a 12-month high of $110.38. The firm has a market cap of $9.75 billion, a P/E ratio of 10.95, a price-to-earnings-growth ratio of 2.32 and a beta of 1.76.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $1.15. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. Equities analysts expect that Wynn Resorts will post 4.69 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on WYNN. JPMorgan Chase & Co. boosted their price target on shares of Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Morgan Stanley upped their target price 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. Macquarie reaffirmed an “outperform” rating and set a $115.00 target price on shares of Wynn Resorts in a report on Friday. Mizuho upped their target price on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Jefferies Financial Group decreased their target price on shares of Wynn Resorts from $109.00 to $105.00 and set a “hold” rating on the stock in a report on Friday, January 3rd. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Wynn Resorts has a consensus rating of “Moderate Buy” and an average target price of $119.50.

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.