Wynn Resorts Ltd. (WYNN) Declares $0.50 Quarterly Dividend

Wynn Resorts Ltd. (NASDAQ:WYNN) declared a quarterly dividend on Thursday, July 28th. Stockholders of record on Thursday, August 11th will be paid a dividend of 0.50 per share by the casino operator on Tuesday, August 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.91%.

A number of research analysts have recently issued reports on WYNN shares. Deutsche Bank AG reaffirmed a “buy” rating and issued a $94.00 price objective (down previously from $101.00) on shares of Wynn Resorts in a research report on Wednesday, April 6th. Vetr raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $101.35 price objective on the stock in a research report on Monday, April 4th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $103.00 price objective (up previously from $78.00) on shares of Wynn Resorts in a research report on Friday, April 1st. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Wynn Resorts in a research report on Thursday, March 31st. Finally, Citigroup Inc. reaffirmed a “buy” rating and issued a $117.00 price objective (up previously from $101.00) on shares of Wynn Resorts in a research report on Wednesday, April 13th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $96.77.

Wynn Resorts (NASDAQ:WYNN) traded up 2.37% during trading on Thursday, reaching $104.66. 3,825,160 shares of the company’s stock were exchanged. The firm has a market capitalization of $10.61 billion and a price-to-earnings ratio of 33.83. The stock has a 50-day moving average price of $96.09 and a 200 day moving average price of $86.71. Wynn Resorts has a 52 week low of $49.95 and a 52 week high of $105.69.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Thursday, July 28th. The casino operator reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.16. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. The business’s revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the business posted $0.74 earnings per share. Equities research analysts forecast that Wynn Resorts will post $3.77 earnings per share for the current fiscal year.

Wynn Resorts, Limited is a developer, owner and operator of destination casino resorts which integrate accommodations and amenities, including fine dining, premium retail offerings, distinctive entertainment and convention facilities. The Company owns 72% of Wynn Macau, Limited, which operates an integrated resort in the Macau Special Administrative Region of the People’s Republic of China (Macau).