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

Wynn Resorts, Limited (NASDAQ:WYNN) announced a quarterly dividend on Friday, February 14th,Wall Street Journal reports. Shareholders of record on Monday, February 24th will be paid a dividend of 0.25 per share by the casino operator on Wednesday, March 5th. This represents a $1.00 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Monday, February 24th.

Wynn Resorts has a dividend payout ratio of 17.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Wynn Resorts to earn $4.89 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 20.4%.

Wynn Resorts Trading Up 10.4 %

Shares of NASDAQ:WYNN opened at $88.82 on Friday. The company has a 50-day moving average price of $85.66 and a 200-day moving average price of $86.86. The company has a market cap of $9.75 billion, a price-to-earnings ratio of 10.95, a price-to-earnings-growth ratio of 2.32 and a beta of 1.76. Wynn Resorts has a 12 month low of $71.63 and a 12 month high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $1.15. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.78 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. As a group, research analysts forecast that Wynn Resorts will post 4.69 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on WYNN. Jefferies Financial Group cut their price objective on Wynn Resorts from $109.00 to $105.00 and set a “hold” rating on the stock in a research report on Friday, January 3rd. Stifel Nicolaus lifted their price objective on Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday. Barclays lifted their price objective on Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft cut their price objective on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company cut their price objective on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Wynn Resorts has an average rating of “Moderate Buy” and an average target price of $119.50.

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.