Wynn Resorts, Limited (WYNN) to Issue Quarterly Dividend of $0.25 on May 31st

Wynn Resorts, Limited (NASDAQ:WYNN) announced a quarterly dividend on Tuesday, May 7th, RTT News reports. Investors of record on Monday, May 20th will be paid a dividend of 0.25 per share by the casino operator on Friday, May 31st. This represents a $1.00 dividend on an annualized basis and a yield of 1.04%.

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 18.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Wynn Resorts to earn $5.67 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 17.6%.

Wynn Resorts Stock Down 1.5 %

Shares of WYNN opened at $95.75 on Thursday. Wynn Resorts has a twelve month low of $81.65 and a twelve month high of $113.50. The stock has a market cap of $10.73 billion, a PE ratio of 16.01 and a beta of 1.91. The business’s 50-day moving average price is $100.24 and its 200-day moving average price is $95.39.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Tuesday, May 7th. The casino operator reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.16. Wynn Resorts had a net margin of 11.18% and a negative return on equity of 31.17%. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the prior year, the firm posted $0.29 EPS. Wynn Resorts’s revenue was up 30.9% on a year-over-year basis. Analysts expect that Wynn Resorts will post 5.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wells Fargo & Company lifted their price objective on Wynn Resorts from $125.00 to $128.00 and gave the company an “overweight” rating in a research note on Wednesday. Stifel Nicolaus lifted their price target on Wynn Resorts from $135.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday. Morgan Stanley upped their price objective on shares of Wynn Resorts from $107.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Citigroup lifted their target price on shares of Wynn Resorts from $132.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Wynn Resorts from $118.00 to $123.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $122.64.

Insider Buying and Selling at Wynn Resorts

In other news, Director Patricia Mulroy sold 960 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $105.17, for a total value of $100,963.20. Following the completion of the sale, the director now owns 522 shares of the company’s stock, valued at approximately $54,898.74. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Patricia Mulroy sold 960 shares of Wynn Resorts stock in a transaction on Friday, February 9th. The shares were sold at an average price of $105.17, for a total value of $100,963.20. Following the transaction, the director now directly owns 522 shares of the company’s stock, valued at $54,898.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Julie Cameron-Doe sold 6,383 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $105.27, for a total transaction of $671,938.41. Following the sale, the chief financial officer now directly owns 78,150 shares of the company’s stock, valued at approximately $8,226,850.50. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.

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.