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

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

Wynn Resorts has a payout ratio of 18.1% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Down 3.7%

WYNN opened at $79.32 on Friday. Wynn Resorts has a 52 week low of $70.79 and a 52 week high of $134.72. The business has a fifty day simple moving average of $80.89 and a 200-day simple moving average of $97.82. The firm has a market cap of $8.17 billion, a P/E ratio of 19.68, a P/E/G ratio of 1.00 and a beta of 0.96.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Thursday, November 5th. The casino operator reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.19). Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period in the previous year, the company posted $0.86 EPS. Wynn Resorts’s revenue was down 7.9% on a year-over-year basis. Sell-side analysts expect that Wynn Resorts will post 4.26 earnings per share for the current year.

Institutional Investors Weigh In On Wynn Resorts

Several institutional investors have recently modified their holdings of WYNN. State Street Corp increased its holdings in Wynn Resorts by 2.6% in the second quarter. State Street Corp now owns 3,047,930 shares of the casino operator’s stock valued at $295,924,000 after buying an additional 77,416 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Wynn Resorts during the 2nd quarter worth about $609,566,000. Penn Capital Management Company LLC purchased a new stake in Wynn Resorts during the second quarter worth approximately $1,752,000. Biglari Capital CORP. purchased a new stake in Wynn Resorts during the second quarter worth approximately $13,961,639. Finally, Bank of America Corp DE purchased a new stake in Wynn Resorts during the second quarter worth approximately $74,504,000. 88.64% of the stock is owned by hedge funds and other institutional investors.

Wynn Resorts Company Profile

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.