Wynn Resorts to Pay $0.25 Dividend, Yields 1% on $96 Stock

Wynn Resorts will trade ex-dividend on May 17, 2024, and pay a $0.25 per share dividend on May 31, 2024. The company reported strong earnings, beating consensus estimates with $1.59 EPS and $1.86 billion revenue.

Nitish Verma
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Wynn Resorts to Pay $0.25 Dividend, Yields 1% on $96 Stock

Wynn Resorts to Pay $0.25 Dividend, Yields 1% on $96 Stock

Wynn Resorts, Limited (NASDAQ:WYNN) is set to trade ex-dividend on May 17, 2024. The company will pay a dividend of $0.25 per share on May 31, 2024, representing an annualized dividend of $1.00 and a dividend yield of approximately 1.04% based on the current stock price of $96.39.

Why this matters: This dividend payment and yield can have a significant impact on investors' portfolios, particularly those seeking stable income streams. As a major player in the hospitality industry, Wynn Resorts' financial performance can also influence the broader market and economy.

Wynn Resorts' stock opened at $96.39 on Thursday. The company has a market capitalization of $10.80 billion, a PE ratio of 13.20, and a beta of 1.91. Wynn Resorts has a 52-week low of $81.65 and a 52-week high of $112.25. The company's 50-day moving average price is $99.98, and its 200-day moving average price is $95.47.

Five equities research analysts have rated the stock with a hold rating, and nine have given a buy rating to the company's stock. According to MarketBeat.com, Wynn Resorts presently has an average rating of "Moderate Buy" and an average target price of $121.62.

Wynn Resorts last released its earnings results on Tuesday, May 7th. The company reported $1.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.16. Wynn Resorts had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.80 billion. The company had a net margin of 12.36% and a negative return on equity of 46.04%. Wynn Resorts' quarterly revenue was up 30.9% compared to the same quarter last year.

Institutional investors have recently modified their holdings of Wynn Resorts. Covestor Ltd, Vanguard Group Inc., Kingsview Wealth Management LLC, JBR Co Financial Management Inc, and Mitsubishi UFJ Asset Management Co. Ltd. have increased their holdings in the company. 68.87% of Wynn Resorts stock is owned by institutional investors.

Wynn Resorts, Limited is set to pay a dividend of $0.25 per share on May 31, 2024, with the stock trading ex-dividend on May 17th. The dividend represents a 1.04% yield based on the company's current stock price of $96.39. Wynn Resorts reported strong earnings for the most recent quarter, beating consensus estimates.

Key Takeaways

  • Wynn Resorts to pay $0.25 dividend on May 31, 2024, with 1.04% yield.
  • Company reports strong Q1 earnings, beating consensus estimates.
  • Wynn Resorts' stock currently trades at $96.39 with a market cap of $10.80B.
  • Institutional investors own 68.87% of Wynn Resorts' stock.
  • Analysts give Wynn Resorts a "Moderate Buy" rating with $121.62 target price.