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

Wynn Resorts, Limited (NASDAQ:WYNN) declared a quarterly dividend on Monday, November 4th,Zacks Dividends reports. Shareholders of record on Friday, November 15th will be paid 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 1.17%. The ex-dividend date of this dividend 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 payout ratio of 18.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Wynn Resorts to earn $4.93 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 20.3%.

Wynn Resorts Trading Down 1.1 %

Shares of NASDAQ:WYNN opened at $85.50 on Wednesday. The firm has a 50 day simple moving average of $91.35 and a 200-day simple moving average of $88.29. The company has a market capitalization of $9.39 billion, a PE ratio of 10.54, a P/E/G ratio of 2.49 and a beta of 1.80. Wynn Resorts has a twelve month low of $71.63 and a twelve month high of $110.38.

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 the consensus estimate of $1.01 by ($0.11). The company 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 61.16%. The business’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 EPS. As a group, equities research analysts predict that Wynn Resorts will post 4.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.52% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on WYNN shares. StockNews.com lowered Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Macquarie reaffirmed an “outperform” rating and issued a $120.00 target price on shares of Wynn Resorts in a report on Tuesday, November 5th. UBS Group raised shares of Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. Finally, Stifel Nicolaus reduced their price objective on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research report on Friday, September 13th. 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.