Wynn Resorts, Limited (WYNN) Raises Dividend to $1.00 Per Share

Wynn Resorts, Limited (NASDAQ:WYNN) declared a quarterly dividend on Friday, May 10th, Wall Street Journal reports. Investors of record on Wednesday, May 22nd will be paid a dividend of 1.00 per share by the casino operator on Thursday, May 30th. This represents a $4.00 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Tuesday, May 21st. This is a positive change from Wynn Resorts’s previous quarterly dividend of $0.75.

Wynn Resorts has decreased its dividend payment by an average of 2.9% per year over the last three years. Wynn Resorts has a dividend payout ratio of 52.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Wynn Resorts to earn $7.95 per share next year, which means the company should continue to be able to cover its $4.00 annual dividend with an expected future payout ratio of 50.3%.

Shares of NASDAQ:WYNN opened at $123.32 on Thursday. The company has a market capitalization of $13.12 billion, a P/E ratio of 18.86, a price-to-earnings-growth ratio of 1.94 and a beta of 1.76. Wynn Resorts has a 52 week low of $90.06 and a 52 week high of $197.68. The company has a quick ratio of 1.16, a current ratio of 1.19 and a debt-to-equity ratio of 4.84.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Thursday, May 9th. The casino operator reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.02. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.66 billion. Wynn Resorts had a net margin of 13.43% and a return on equity of 35.83%. Wynn Resorts’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.30 earnings per share. On average, sell-side analysts predict that Wynn Resorts will post 6.28 EPS for the current fiscal year.

A number of equities analysts have recently issued reports on WYNN shares. Stifel Nicolaus upped their price target on Wynn Resorts from $138.00 to $141.00 and gave the stock a “buy” rating in a research report on Wednesday, January 16th. ValuEngine raised Wynn Resorts from a “sell” rating to a “hold” rating in a research report on Tuesday, January 29th. BidaskClub raised Wynn Resorts from a “hold” rating to a “buy” rating in a research report on Wednesday, January 30th. Deutsche Bank reaffirmed a “buy” rating and set a $130.00 price target on shares of Wynn Resorts in a research report on Wednesday, January 30th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $125.00 price target (up from $105.00) on shares of Wynn Resorts in a research report on Thursday, January 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $152.00.

In other news, Director Patricia Mulroy sold 425 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $118.02, for a total transaction of $50,158.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.58% of the stock is owned by insiders.

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Wynn Resorts Company Profile

Wynn Resorts, Limited owns and operates destination casino resorts. As of February 20, 2019, the company's Wynn Palace segment had approximately 424,000 square feet of casino space, which offered 320 table games and 1,041 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas; 13 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities comprising a gondola ride, health club, spa, salon, and pool; and public attractions, such as performance lake and floral art displays.

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Dividend History for Wynn Resorts (NASDAQ:WYNN)

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