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

Wynn Resorts, Limited (NASDAQ:WYNN) declared a quarterly dividend on Thursday, February 13th, Wall Street Journal reports. Shareholders of record on Monday, February 24th will be given a dividend of 0.25 per share by the casino operator on Wednesday, March 5th. This represents a $1.00 annualized dividend and a yield of 1.10%. The ex-dividend date is Monday, February 24th.

Wynn Resorts has a payout ratio of 18.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Wynn Resorts to earn $5.39 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 18.6%.

Wynn Resorts Trading Down 2.9 %

Wynn Resorts stock opened at $90.76 on Friday. The company has a market capitalization of $9.66 billion, a PE ratio of 21.56, a P/E/G ratio of 2.35 and a beta of 1.76. Wynn Resorts has a 12 month low of $71.63 and a 12 month high of $110.38. The stock has a 50-day moving average price of $85.31 and a two-hundred day moving average price of $87.26.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, beating the consensus estimate of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. As a group, analysts predict that Wynn Resorts will post 5.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Philip G. Satre acquired 22,200 shares of Wynn Resorts stock in a transaction on Tuesday, February 18th. The stock was purchased at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the purchase, the director now owns 34,195 shares of the company’s stock, valued at approximately $3,152,095.10. The trade was a 185.08 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.52% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WYNN. Deutsche Bank Aktiengesellschaft lowered their price objective on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. StockNews.com upgraded Wynn Resorts from a “hold” rating to a “buy” rating in a research report on Tuesday. Jefferies Financial Group upgraded Wynn Resorts from a “hold” rating to a “buy” rating and raised their price objective for the stock from $105.00 to $118.00 in a research report on Tuesday. Mizuho raised their price objective on Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, February 14th. Finally, Stifel Nicolaus raised their price objective on Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $120.58.

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.