Wynn Resorts, Limited (NASDAQ:WYNN – Get Free Report) announced a quarterly dividend on Tuesday, May 7th, RTT News reports. Investors 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 yield of 1.04%.
Wynn Resorts has decreased its dividend payment by an average of 9.1% per year over the last three years. Wynn Resorts has a 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 Down 1.5 %
Shares of WYNN opened at $95.75 on Thursday. Wynn Resorts has a twelve month low of $81.65 and a twelve month high of $113.50. The stock has a market cap of $10.73 billion, a PE ratio of 16.01 and a beta of 1.91. The business’s 50-day moving average price is $100.24 and its 200-day moving average price is $95.39.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on the company. Wells Fargo & Company lifted their price objective on Wynn Resorts from $125.00 to $128.00 and gave the company an “overweight” rating in a research note on Wednesday. Stifel Nicolaus lifted their price target on Wynn Resorts from $135.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday. Morgan Stanley upped 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 report on Tuesday, April 9th. Citigroup lifted their target price on shares of Wynn Resorts from $132.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. raised their price objective 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. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $122.64.
Read Our Latest Stock Report on Wynn Resorts
Insider Buying and Selling at Wynn Resorts
In other news, Director Patricia Mulroy sold 960 shares of the business’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 of the company’s stock, valued at approximately $54,898.74. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Patricia Mulroy sold 960 shares of Wynn Resorts stock in a transaction 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 transaction, the director now directly owns 522 shares of the company’s stock, valued at $54,898.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Julie Cameron-Doe sold 6,383 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $105.27, for a total transaction of $671,938.41. Following the sale, the chief financial officer now directly owns 78,150 shares of the company’s stock, valued at approximately $8,226,850.50. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.
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.
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