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

Wynn Resorts, Limited (NASDAQ:WYNN) declared a quarterly dividend on Tuesday, May 7th, RTT News reports. Stockholders of record on Monday, May 20th will be paid 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 dividend yield of 1.03%.

Wynn Resorts has decreased its dividend by an average of 9.1% annually over the last three years. Wynn Resorts has a dividend payout ratio of 18.1% indicating that its dividend is sufficiently covered by earnings. 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

Shares of WYNN stock traded down $0.64 on Tuesday, hitting $97.23. 2,718,119 shares of the company’s stock traded hands, compared to its average volume of 1,780,366. Wynn Resorts has a one year low of $81.65 and a one year high of $113.50. The company’s fifty day simple moving average is $100.49 and its 200 day simple moving average is $95.32. The stock has a market capitalization of $10.90 billion, a price-to-earnings ratio of 16.37 and a beta of 1.91.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Wednesday, February 7th. The casino operator reported $1.91 EPS for the quarter, beating the consensus estimate of $1.15 by $0.76. Wynn Resorts had a net margin of 11.18% and a negative return on equity of 31.17%. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the firm earned ($1.23) EPS. The firm’s quarterly revenue was up 83.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Wynn Resorts will post 5.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Wynn Resorts

In other news, CEO Craig Scott Billings sold 19,235 shares of Wynn Resorts stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $108.00, for a total value of $2,077,380.00. Following the completion of the sale, the chief executive officer now directly owns 307,904 shares in the company, valued at $33,253,632. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Patricia Mulroy sold 960 shares of the company’s stock in a transaction on Friday, February 9th. The shares were 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 owns 522 shares in the company, valued at $54,898.74. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Craig Scott Billings sold 19,235 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $108.00, for a total transaction of $2,077,380.00. Following the transaction, the chief executive officer now owns 307,904 shares of the company’s stock, valued at approximately $33,253,632. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,578 shares of company stock worth $2,850,282. 0.52% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Susquehanna increased their price target on shares of Wynn Resorts from $105.00 to $115.00 and gave the company a “positive” rating in a research report on Thursday, February 8th. Bank Of America (Bofa) increased their price target on shares of Wynn Resorts from $95.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 17th. Morgan Stanley increased their price target on shares of Wynn Resorts from $107.00 to $114.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. JPMorgan Chase & Co. increased their price target on shares of Wynn Resorts from $118.00 to $123.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Finally, Macquarie increased their price target on shares of Wynn Resorts from $122.00 to $128.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $121.43.

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.