Wynn Resorts, Limited (WYNN) To Go Ex-Dividend on August 14th

Wynn Resorts, Limited (NASDAQ:WYNN) announced a quarterly dividend on Tuesday, August 4th. Investors 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) dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, August 14th.

Wynn Resorts has a dividend 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

WYNN opened at $101.15 on Thursday. The stock has a market capitalization of $10.50 billion, a P/E ratio of 25.10, a price-to-earnings-growth ratio of 0.96 and a beta of 1.01. The company’s 50 day simple moving average is $100.50 and its 200-day simple moving average is $103.83. Wynn Resorts has a one year low of $92.52 and a one 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.25. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.83 billion. Wynn Resorts had a negative return on equity of 45.05% and a net margin of 6.05%.The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.09 EPS. As a group, analysts anticipate that Wynn Resorts will post 4.49 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Stifel Nicolaus set a $143.00 target price on shares of Wynn Resorts in a report on Wednesday. Susquehanna dropped their price objective on Wynn Resorts from $133.00 to $127.00 and set a “positive” rating for the company in a report on Thursday, April 16th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $137.00 target price on shares of Wynn Resorts in a research report on Friday, May 8th. Barclays lifted their price objective on shares of Wynn Resorts from $134.00 to $136.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Wynn Resorts in a report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $135.12.

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.