Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report) announced 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 annualized dividend and a 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 payout ratio of 18.1% meaning 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 NASDAQ:WYNN traded down $0.64 during midday trading on Tuesday, hitting $97.23. The company's stock had a trading volume of 2,946,604 shares, compared to its average volume of 1,793,711. The stock's 50 day simple moving average is $100.49 and its 200 day simple moving average is $95.32. Wynn Resorts has a fifty-two week low of $81.65 and a fifty-two week high of $113.50. The stock has a market capitalization of $10.90 billion, a price-to-earnings ratio of 16.26 and a beta of 1.91.
Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The casino operator reported $1.59 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.16. Wynn Resorts had a net margin of 11.18% and a negative return on equity of 31.17%. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the prior year, the business earned $0.29 earnings per share. The firm's revenue for the quarter was up 30.9% on a year-over-year basis. As a group, analysts anticipate that Wynn Resorts will post 5.37 EPS for the current year.
Insider Activity
In other Wynn Resorts news, CEO Craig Scott Billings sold 19,235 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 307,904 shares of the company's stock, valued at approximately $33,253,632. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related 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 value of $100,963.20. Following the completion of the sale, the director now owns 522 shares in the company, valued at $54,898.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Craig Scott Billings sold 19,235 shares of the firm's stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $108.00, for a total value of $2,077,380.00. Following the transaction, the chief executive officer now owns 307,904 shares in the company, 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 valued at $2,850,282. Company insiders own 0.52% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have issued reports on WYNN shares. Morgan Stanley boosted their price target on shares of Wynn Resorts from $107.00 to $114.00 and gave the company an "equal weight" rating in a report on Tuesday, April 9th. 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 report on Friday, February 9th. Wells Fargo & Company lifted their price objective on Wynn Resorts from $122.00 to $124.00 and gave the company an "overweight" rating in a report on Thursday, February 8th. Bank Of America (Bofa) increased their target price on Wynn Resorts from $95.00 to $105.00 and gave the stock a "neutral" rating in a report on Wednesday, January 17th. Finally, UBS Group decreased their price target on Wynn Resorts from $117.00 to $108.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 6th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $121.43.
Get Our Latest Stock Analysis on Wynn Resorts
About Wynn Resorts
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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.
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