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

Wynn Resorts, Limited (NASDAQ:WYNN) declared a quarterly dividend on Monday, November 4th,Zacks Dividends reports. Shareholders of record on Friday, November 15th will be given a dividend of 0.25 per share by the casino operator on Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 1.07%. The ex-dividend date is Friday, November 15th.

Wynn Resorts has decreased its dividend by an average of 9.1% per year over the last three years. Wynn Resorts has a dividend payout ratio of 18.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Wynn Resorts to earn $4.93 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 20.3%.

Wynn Resorts Stock Up 8.6 %

WYNN traded up $7.34 during trading on Thursday, hitting $93.14. 4,661,841 shares of the company’s stock were exchanged, compared to its average volume of 2,197,768. Wynn Resorts has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The stock has a market cap of $10.23 billion, a P/E ratio of 11.46, a PEG ratio of 3.08 and a beta of 1.80. The business’s 50 day moving average is $91.52 and its two-hundred day moving average is $88.27.

Wynn Resorts (NASDAQ:WYNN) last posted 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 company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.73 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. Wynn Resorts’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 EPS. On average, sell-side analysts forecast that Wynn Resorts will post 4.87 earnings per share for the current year.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the sale, the director now directly owns 5,689 shares in the company, valued at $447,894.97. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Barclays lowered their price target on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Susquehanna increased their price target on shares of Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a report on Friday, October 11th. JPMorgan Chase & Co. raised their target price on shares of Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Finally, Macquarie reaffirmed an “outperform” rating and issued a $120.00 target price on shares of Wynn Resorts in a research note on Tuesday, November 5th. Four investment 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 company’s stock. According to MarketBeat.com, Wynn Resorts has a consensus rating of “Moderate Buy” and a consensus target price of $115.71.

Wynn Resorts Company Profile

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.