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

Wynn Resorts, Limited (NASDAQ:WYNN) declared a quarterly dividend on Tuesday, August 4th. Shareholders of record on Friday, August 14th will be given a dividend of 0.25 per share by the casino operator on Friday, August 28th. This represents a c) annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 14th.

Wynn Resorts has a payout ratio of 18.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Wynn Resorts to earn $5.29 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 18.9%.

Wynn Resorts Price Performance

Shares of Wynn Resorts stock opened at $97.60 on Wednesday. The company’s fifty day simple moving average is $100.50 and its 200-day simple moving average is $103.95. The stock has a market capitalization of $10.13 billion, a PE ratio of 29.13, a P/E/G ratio of 0.97 and a beta of 1.01. Wynn Resorts has a 1-year low of $92.52 and a 1-year high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Tuesday, August 4th. The casino operator reported $1.24 EPS for the quarter, topping the consensus estimate of $0.99 by $0.25. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same period in the prior year, the business posted $1.09 EPS. Wynn Resorts’s revenue was up 6.9% on a year-over-year basis. As a group, research analysts anticipate that Wynn Resorts will post 4.49 EPS for the current year.

Analyst Ratings Changes

WYNN has been the subject of several recent research reports. Truist Financial started coverage on Wynn Resorts in a report on Wednesday, July 8th. They set a “buy” rating and a $125.00 price target for the company. Susquehanna lowered their price objective on Wynn Resorts from $133.00 to $127.00 and set a “positive” rating on the stock in a research report on Thursday, April 16th. Wells Fargo & Company cut their price objective on Wynn Resorts from $142.00 to $141.00 and set an “overweight” rating for the company in a research note on Tuesday, July 14th. Zacks Research lowered shares of Wynn Resorts from a “hold” rating to a “strong sell” rating in a report on Friday, July 10th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Wynn Resorts in a research note on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Wynn Resorts currently has a consensus rating of “Moderate Buy” and an average price target of $135.56.

About Wynn Resorts

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.