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

Wynn Resorts, Limited (NASDAQ:WYNN) declared a quarterly dividend on Tuesday, May 7th, RTT News reports. Shareholders of record on Monday, May 20th will be given a dividend of 0.25 per share by the casino operator on Friday, May 31st. This represents a $1.00 dividend on an annualized basis and a yield of 1.05%.

Wynn Resorts has decreased its dividend by an average of 9.1% annually over the last three years. Wynn Resorts has a dividend payout ratio of 18.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Wynn Resorts to earn $5.67 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 17.6%.

Wynn Resorts Trading Down 1.8 %

Shares of Wynn Resorts stock traded down $1.78 during trading on Wednesday, reaching $95.45. The stock had a trading volume of 1,386,234 shares, compared to its average volume of 1,787,731. The company has a market capitalization of $10.70 billion, a price-to-earnings ratio of 15.96 and a beta of 1.91. Wynn Resorts has a 52 week low of $81.65 and a 52 week high of $113.50. The stock has a fifty day moving average price of $100.38 and a two-hundred day moving average price of $95.38.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Tuesday, May 7th. The casino operator reported $1.59 EPS for the quarter, beating the consensus estimate of $1.43 by $0.16. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Wynn Resorts had a negative return on equity of 31.17% and a net margin of 11.18%. The business’s quarterly revenue was up 30.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.29 EPS. On average, equities analysts forecast that Wynn Resorts will post 5.37 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Patricia Mulroy sold 960 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $105.17, for a total value of $100,963.20. Following the completion of the transaction, the director now owns 522 shares of the company’s stock, valued at $54,898.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Wynn Resorts news, CFO Julie Cameron-Doe sold 6,383 shares of Wynn Resorts stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $105.27, for a total transaction of $671,938.41. Following the transaction, the chief financial officer now directly owns 78,150 shares of the company’s stock, valued at approximately $8,226,850.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Patricia Mulroy sold 960 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $105.17, for a total value of $100,963.20. Following the completion of the sale, the director now directly owns 522 shares of the company’s stock, valued at approximately $54,898.74. The disclosure for this sale can be found here. Insiders have sold 26,578 shares of company stock worth $2,850,282 in the last 90 days. Insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on WYNN shares. Susquehanna raised their target price on shares of Wynn Resorts from $105.00 to $115.00 and gave the company a “positive” rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. raised their price objective on Wynn Resorts from $118.00 to $123.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Macquarie upped their target price on Wynn Resorts from $122.00 to $128.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Stifel Nicolaus raised their price target on Wynn Resorts from $135.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Wells Fargo & Company upped their price objective on Wynn Resorts from $125.00 to $128.00 and gave the stock an “overweight” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $122.64.

About Wynn Resorts

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.