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

Wynn Resorts, Limited (NASDAQ:WYNN) announced a quarterly dividend on Monday, November 4th, Zacks 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 1.16%. The ex-dividend date of this dividend 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 payout ratio of 18.2% meaning its dividend is sufficiently covered by earnings. Equities research 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 Stock Performance

Shares of NASDAQ WYNN traded down $0.75 during mid-day trading on Wednesday, reaching $85.97. 1,713,605 shares of the company’s stock were exchanged, compared to its average volume of 2,153,267. The company’s 50-day moving average is $90.38 and its 200-day moving average is $88.69. Wynn Resorts has a 52-week low of $71.63 and a 52-week high of $110.38. The firm has a market capitalization of $9.54 billion, a price-to-earnings ratio of 10.69, a PEG 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 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). Wynn Resorts had a negative return on equity of 62.44% and a net margin of 13.37%. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the company earned $0.99 earnings per share. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, equities analysts predict that Wynn Resorts will post 5.42 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on WYNN shares. Wells Fargo & Company lowered their target price on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Tuesday. Deutsche Bank Aktiengesellschaft cut 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. 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 research note on Tuesday, October 22nd. JPMorgan Chase & Co. increased their price objective on shares of Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Macquarie reiterated an “outperform” rating and set a $120.00 target price on shares of Wynn Resorts in a research note on Tuesday. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.