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

Wynn Resorts, Limited (NASDAQ:WYNN) announced a quarterly dividend on Tuesday, May 7th, RTT News reports. Stockholders 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 dividend yield of 1.04%.

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 18.1% meaning its dividend is sufficiently covered by earnings. Research 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 Performance

WYNN opened at $95.75 on Thursday. The firm’s fifty day moving average is $100.24 and its 200 day moving average is $95.39. The stock has a market cap of $10.73 billion, a price-to-earnings ratio of 16.01 and a beta of 1.91. Wynn Resorts has a fifty-two week low of $81.65 and a fifty-two week high of $113.50.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data 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. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.80 billion. Wynn Resorts had a negative return on equity of 31.17% and a net margin of 11.18%. The business’s quarterly revenue was up 30.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.29 earnings per share. On average, equities research analysts predict that Wynn Resorts will post 5.37 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on WYNN shares. Mizuho began coverage on shares of Wynn Resorts in a report on Thursday, April 4th. They set a “buy” rating and a $131.00 price objective for the company. Morgan Stanley raised their target price on shares of Wynn Resorts from $107.00 to $114.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. StockNews.com upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating in a research note on Thursday, April 4th. Barclays raised their price objective on Wynn Resorts from $123.00 to $124.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Finally, Macquarie boosted their target price on Wynn Resorts from $122.00 to $128.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Wynn Resorts presently has an average rating of “Moderate Buy” and a consensus price target of $122.64.

Insider Buying and Selling at Wynn Resorts

In other news, Director Patricia Mulroy sold 960 shares of Wynn Resorts stock in a transaction that occurred on 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 transaction, the director now owns 522 shares in the company, valued at approximately $54,898.74. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Julie Cameron-Doe sold 6,383 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $105.27, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Patricia Mulroy sold 960 shares of the business’s stock in a transaction that occurred 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 owns 522 shares of the company’s stock, valued at approximately $54,898.74. 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.