Wynn Resorts, Limited (NASDAQ:WYNN) Plans 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 payout ratio of 18.1% indicating that its dividend is sufficiently covered by earnings. Research 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 Stock Performance

NASDAQ WYNN traded down $1.78 during trading on Wednesday, hitting $95.45. The stock had a trading volume of 1,386,234 shares, compared to its average volume of 1,787,731. The stock has a market capitalization of $10.70 billion, a price-to-earnings ratio of 15.96 and a beta of 1.91. The stock has a 50 day simple moving average of $100.38 and a 200 day simple moving average of $95.38. Wynn Resorts has a one year low of $81.65 and a one year high of $113.50.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Macquarie upped their price objective on shares of Wynn Resorts from $122.00 to $128.00 and gave the company an “outperform” rating in a report on Friday, February 9th. Morgan Stanley raised their price objective on shares of Wynn Resorts from $107.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Barclays lifted their price objective on shares of Wynn Resorts from $123.00 to $124.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Wells Fargo & Company increased their target price on shares of Wynn Resorts from $125.00 to $128.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. upped their price target on Wynn Resorts from $118.00 to $123.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Wynn Resorts has an average rating of “Moderate Buy” and a consensus target price of $122.64.

Insider Activity at Wynn Resorts

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

Wynn Resorts Company Profile

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.