Wynn Resorts, Limited (WYNN) To Go Ex-Dividend on November 15th

Wynn Resorts, Limited (NASDAQ:WYNN) declared a quarterly dividend on Monday, November 4th, Zacks reports. Shareholders of record on Friday, November 15th will be paid a dividend of 0.25 per share by the casino operator on Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Friday, November 15th.

Wynn Resorts has decreased its dividend by an average of 9.1% annually over the last three years. Wynn Resorts has a dividend payout ratio of 18.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Wynn Resorts to earn $5.48 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 18.2%.

Wynn Resorts Price Performance

NASDAQ:WYNN traded down $0.31 during trading hours on Wednesday, hitting $86.41. The stock had a trading volume of 1,813,696 shares, compared to its average volume of 2,153,732. The company has a 50 day simple moving average of $90.38 and a two-hundred day simple moving average of $88.69. Wynn Resorts has a one year low of $71.63 and a one year high of $110.38. The firm has a market capitalization of $9.59 billion, a price-to-earnings ratio of 10.69, a P/E/G ratio of 2.48 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Wynn Resorts had a negative return on equity of 62.44% and a net margin of 13.37%. Wynn Resorts’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.99 EPS. Equities research analysts anticipate that Wynn Resorts will post 5.42 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on WYNN. Barclays cut their target price on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a research note on Tuesday. Stifel Nicolaus cut their target price on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Susquehanna lifted their target price on shares of Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a research note on Friday, October 11th. Macquarie reaffirmed an “outperform” rating and set a $120.00 target price on shares of Wynn Resorts in a research note on Tuesday. Finally, UBS Group raised shares of Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. Four investment 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 presently has an average rating of “Moderate Buy” and a consensus price target of $115.71.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the completion of the transaction, the director now directly owns 5,689 shares in the company, valued at $447,894.97. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.52% of the stock is owned by corporate insiders.

About Wynn Resorts

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.