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

Wynn Resorts, Limited (NASDAQ:WYNN) announced a quarterly dividend on Friday, February 14th,Wall Street Journal reports. Shareholders of record on Monday, February 24th will be paid a dividend of 0.25 per share by the casino operator on Wednesday, March 5th. This represents a $1.00 annualized dividend and a 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. Equities 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 Price Performance

Shares of WYNN opened at $88.82 on Friday. The firm has a market cap of $9.75 billion, a P/E ratio of 10.95, a P/E/G ratio of 2.32 and a beta of 1.76. The stock has a 50 day simple moving average of $85.66 and a two-hundred day simple moving average of $86.83. Wynn Resorts has a 1 year low of $71.63 and a 1 year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, beating the consensus estimate of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. On average, equities analysts anticipate that Wynn Resorts will post 4.69 earnings per share for the current year.

Analyst Ratings Changes

WYNN has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price objective on Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Jefferies Financial Group lowered their price objective on Wynn Resorts from $109.00 to $105.00 and set a “hold” rating for the company in a research report on Friday, January 3rd. Morgan Stanley boosted their price objective on Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus boosted their price objective on Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a research report on Friday. Finally, Barclays upped their target price on Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Friday. 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $119.50.

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.