Wynn Resorts, Limited (NASDAQ:WYNN) Shareholders to Get $0.25 Quarterly Dividend

Wynn Resorts, Limited (NASDAQ:WYNN) announced a quarterly dividend on Thursday, November 5th. Shareholders of record on Monday, November 16th will be paid a dividend of $0.25 per share by the casino operator on Monday, November 30th. This represents a $1.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Monday, November 16th.

Wynn Resorts has a dividend payout ratio of 18.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Wynn Resorts to earn $4.75 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 21.1%.

Wynn Resorts Trading Down 3.7%

Shares of WYNN stock opened at $79.32 on Friday. The firm has a fifty day simple moving average of $80.89 and a two-hundred day simple moving average of $97.82. Wynn Resorts has a 12 month low of $70.79 and a 12 month high of $134.72. The firm has a market capitalization of $8.17 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 1.00 and a beta of 0.96.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Thursday, November 5th. The casino operator reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.19). The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.75 billion. Wynn Resorts had a net margin of 6.05% and a negative return on equity of 46.52%. The firm’s quarterly revenue was down 7.9% on a year-over-year basis. During the same period last year, the business posted $0.86 earnings per share. On average, equities analysts predict that Wynn Resorts will post 4.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Wynn Resorts in a report on Monday, September 21st. Morgan Stanley dropped their target price on Wynn Resorts from $128.00 to $120.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. Barclays cut their target price on Wynn Resorts from $136.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, October 9th. Wells Fargo & Company decreased their price target on Wynn Resorts from $131.00 to $125.00 and set an “overweight” rating for the company in a report on Monday, October 19th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $93.00 price objective on shares of Wynn Resorts in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Wynn Resorts has a consensus rating of “Moderate Buy” and an average price target of $124.35.

About Wynn Resorts

Wynn Resorts, Ltd. is a developer and operator of luxury integrated resorts, with a focus on destination casinos, hotels, restaurants, entertainment venues, retail, and convention facilities. Its properties are designed to combine gaming with premium hospitality and leisure experiences.

The company operates Wynn Las Vegas and Encore Las Vegas in Nevada, Encore Boston Harbor in Massachusetts, and Wynn Macau and Wynn Palace in Macau. These resorts serve visitors in the United States and international markets, offering accommodations, casino gaming, dining, nightlife, retail, spas, entertainment, and meeting and convention services.

Wynn Resorts was founded in 2002 by casino executive Steve Wynn.