Wynn Resorts, Limited (WYNN) to Issue Quarterly Dividend of $0.25 on March 5th

Wynn Resorts, Limited (NASDAQ:WYNN) announced a quarterly dividend on Thursday, February 13th, Wall Street Journal reports. Stockholders of record on Monday, February 24th will be paid a dividend of 0.25 per share by the casino operator on Wednesday, March 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Monday, February 24th.

Wynn Resorts has a dividend payout ratio of 18.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Wynn Resorts to earn $5.39 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 18.6%.

Wynn Resorts Stock Down 2.9 %

Shares of Wynn Resorts stock opened at $90.76 on Friday. The stock has a market cap of $9.66 billion, a P/E ratio of 21.56, a P/E/G ratio of 2.35 and a beta of 1.76. Wynn Resorts has a 12-month low of $71.63 and a 12-month high of $110.38. The business’s 50 day moving average is $85.31 and its 200-day moving average is $87.26.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $1.15. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. On average, sell-side analysts expect that Wynn Resorts will post 5.17 EPS for the current year.

Insider Buying and Selling

In other Wynn Resorts news, Director Philip G. Satre acquired 22,200 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the transaction, the director now directly owns 34,195 shares in the company, valued at $3,152,095.10. This represents a 185.08 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 0.52% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Macquarie reissued an “outperform” rating and set a $115.00 target price on shares of Wynn Resorts in a report on Friday, February 14th. Stifel Nicolaus upped their price objective on Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a report on Friday, February 14th. StockNews.com raised Wynn Resorts from a “hold” rating to a “buy” rating in a report on Tuesday. Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and increased their target price for the stock from $105.00 to $118.00 in a report on Tuesday. Finally, JPMorgan Chase & Co. increased their target price on Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $120.58.

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.