Wynn Resorts, Limited Declares Quarterly Dividend of $0.50 (NASDAQ:WYNN)
Wynn Resorts, Limited (NASDAQ:WYNN) announced a quarterly dividend on Wednesday, July 26th, Wall Street Journal reports. Investors of record on Thursday, August 10th will be given a dividend of 0.50 per share by the casino operator on Tuesday, August 22nd. This represents a $2.00 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Tuesday, August 8th.
Wynn Resorts, Limited (NASDAQ WYNN) traded down 5.88% during midday trading on Wednesday, hitting $130.81. 7,641,528 shares of the company traded hands. The stock’s 50-day moving average price is $134.02 and its 200 day moving average price is $115.62. Wynn Resorts, Limited has a 12-month low of $82.51 and a 12-month high of $139.67. The company has a market capitalization of $13.31 billion, a price-to-earnings ratio of 49.72 and a beta of 1.73.
Wynn Resorts, Limited (NASDAQ:WYNN) last posted its quarterly earnings data on Tuesday, July 25th. The casino operator reported $1.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.02. Wynn Resorts, Limited had a net margin of 5.41% and a return on equity of 264.58%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same period in the prior year, the company posted $1.07 earnings per share. Wynn Resorts, Limited’s revenue for the quarter was up 44.5% compared to the same quarter last year. On average, equities analysts forecast that Wynn Resorts, Limited will post $4.77 EPS for the current year.
WYNN has been the subject of several recent analyst reports. TheStreet upgraded shares of Wynn Resorts, Limited from a “c” rating to a “b-” rating in a research report on Thursday, March 30th. Vetr upgraded shares of Wynn Resorts, Limited from a “hold” rating to a “buy” rating and set a $120.45 price objective for the company in a research report on Wednesday, March 29th. Argus upgraded shares of Wynn Resorts, Limited from a “hold” rating to a “buy” rating and increased their price objective for the stock from $119.80 to $135.00 in a research report on Wednesday, April 5th. Zacks Investment Research upgraded shares of Wynn Resorts, Limited from a “strong sell” rating to a “buy” rating and set a $131.00 price objective for the company in a research report on Monday, April 10th. Finally, UBS AG reiterated a “buy” rating on shares of Wynn Resorts, Limited in a research report on Tuesday, April 11th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $125.62.
In related news, EVP Kimmarie Sinatra sold 22,624 shares of the firm’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $129.12, for a total transaction of $2,921,210.88. Following the transaction, the executive vice president now directly owns 221,067 shares of the company’s stock, valued at $28,544,171.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Matt Maddox sold 44,309 shares of the firm’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $134.35, for a total transaction of $5,952,914.15. Following the transaction, the president now directly owns 344,895 shares in the company, valued at $46,336,643.25. The disclosure for this sale can be found here. Insiders have sold 130,309 shares of company stock worth $16,761,891 over the last three months. 13.20% of the stock is owned by insiders.
Wynn Resorts, Limited Company Profile
Wynn Resorts, Limited (Wynn Resorts) is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company’s segments include Macau Operations and Las Vegas Operations.
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