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

Wynn Resorts, Limited (NASDAQ:WYNN) announced a quarterly dividend on Monday, November 4th, Zacks reports. Investors 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 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Friday, November 15th.

Wynn Resorts has decreased its dividend payment by an average of 9.1% annually over the last three years. Wynn Resorts has a dividend payout ratio of 18.2% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 0.9 %

Shares of Wynn Resorts stock traded down $0.75 on Wednesday, reaching $85.97. 1,713,605 shares of the company were exchanged, compared to its average volume of 2,153,267. Wynn Resorts has a one year low of $71.63 and a one year high of $110.38. The company has a 50-day moving average of $90.38 and a 200 day moving average of $88.69. The company 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 data on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.73 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 62.44%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.99 earnings per share. Analysts predict that Wynn Resorts will post 5.42 earnings per share for the current year.

Analysts Set New Price Targets

WYNN has been the topic of a number of recent analyst reports. StockNews.com cut Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. UBS Group raised Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. Wells Fargo & Company decreased their price objective on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Tuesday. Stifel Nicolaus dropped their target price on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a report on Friday, September 13th. Finally, JPMorgan Chase & Co. raised their target price on Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research report on Tuesday. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Wynn Resorts has an average rating of “Moderate Buy” and an average target price of $115.71.

Insider Buying and Selling

In other news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction that occurred 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 in the company, valued at $447,894.97. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.52% of the stock is owned by company insiders.

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.