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

Wynn Resorts, Limited (NASDAQ:WYNN) announced a quarterly dividend on Thursday, May 7th. Stockholders of record on Monday, May 18th will be given a dividend of 0.25 per share by the casino operator on Friday, May 29th. This represents a c) dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Monday, May 18th.

Wynn Resorts has a dividend payout ratio of 18.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Wynn Resorts to earn $5.87 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 17.0%.

Wynn Resorts Stock Performance

Shares of Wynn Resorts stock opened at $106.85 on Friday. Wynn Resorts has a 52-week low of $82.63 and a 52-week high of $134.72. The company’s 50 day moving average price is $103.76 and its 200-day moving average price is $114.38. The stock has a market capitalization of $11.12 billion, a price-to-earnings ratio of 35.62, a P/E/G ratio of 5.97 and a beta of 1.01.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, May 7th. The casino operator reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.82 billion. Wynn Resorts had a net margin of 4.59% and a negative return on equity of 39.05%. The firm’s revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.07 EPS. As a group, equities research analysts forecast that Wynn Resorts will post 4.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wynn Resorts

Several hedge funds have recently made changes to their positions in WYNN. MUFG Securities EMEA plc purchased a new position in Wynn Resorts during the second quarter valued at $25,000. Root Financial Partners LLC bought a new position in shares of Wynn Resorts in the 3rd quarter worth about $26,000. Hantz Financial Services Inc. increased its stake in shares of Wynn Resorts by 54.9% in the 4th quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock worth $30,000 after acquiring an additional 89 shares in the last quarter. Steigerwald Gordon & Koch Inc. purchased a new position in Wynn Resorts during the 3rd quarter valued at about $31,000. Finally, Cromwell Holdings LLC lifted its position in Wynn Resorts by 68.2% during the 4th quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock valued at $31,000 after acquiring an additional 103 shares during the period. 88.64% of the stock is currently owned by institutional investors.

About Wynn Resorts

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.