Wynn Resorts, Limited (NASDAQ:WYNN) announced a quarterly dividend on Tuesday, August 6th, NASDAQ reports. Stockholders of record on Friday, August 16th will be given a dividend of 1.00 per share by the casino operator on Tuesday, August 27th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Thursday, August 15th.
Wynn Resorts has decreased its dividend by an average of 2.9% annually over the last three years. Wynn Resorts has a dividend payout ratio of 52.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Wynn Resorts to earn $7.06 per share next year, which means the company should continue to be able to cover its $4.00 annual dividend with an expected future payout ratio of 56.7%.
Shares of Wynn Resorts stock opened at $108.93 on Wednesday. The stock has a market capitalization of $11.49 billion, a price-to-earnings ratio of 16.66, a price-to-earnings-growth ratio of 1.88 and a beta of 1.95. Wynn Resorts has a fifty-two week low of $90.06 and a fifty-two week high of $151.93. The company has a quick ratio of 1.16, a current ratio of 1.19 and a debt-to-equity ratio of 4.84. The stock has a 50 day simple moving average of $127.78.
Several research analysts recently weighed in on WYNN shares. BidaskClub lowered Wynn Resorts from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Barclays reiterated a “buy” rating on shares of Wynn Resorts in a research report on Wednesday, May 15th. Jefferies Financial Group increased their price objective on Wynn Resorts from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Bank of America upgraded Wynn Resorts from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $150.00 to $165.00 in a research report on Thursday, April 25th. Finally, Morgan Stanley lowered their price objective on Wynn Resorts from $135.00 to $130.00 and set an “equal weight” rating for the company in a research report on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $138.69.
Wynn Resorts Company Profile
Wynn Resorts, Limited owns and operates destination casino resorts. As of February 20, 2019, the company's Wynn Palace segment had approximately 424,000 square feet of casino space, which offered 320 table games and 1,041 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas; 13 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities comprising a gondola ride, health club, spa, salon, and pool; and public attractions, such as performance lake and floral art displays.
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