Wynn Resorts (WYNN) Shares Gap Up After Dividend Announcement

Wynn Resorts, Limited (NASDAQ:WYNN)’s share price gapped up prior to trading on Tuesday following a dividend announcement from the company. The stock had previously closed at $171.69, but opened at $179.64. Wynn Resorts shares last traded at $195.23, with a volume of 6777500 shares changing hands.

The newly announced dividend which will be paid on Tuesday, February 27th. Stockholders of record on Thursday, February 15th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Wednesday, February 14th. Wynn Resorts’s dividend payout ratio is presently 27.51%.

A number of analysts have recently issued reports on the stock. Bank of America restated a “hold” rating and set a $200.00 target price on shares of Wynn Resorts in a research note on Tuesday. Jefferies Group restated a “positive” rating and set a $220.00 target price on shares of Wynn Resorts in a research note on Tuesday. BidaskClub upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating in a research note on Tuesday. UBS Group restated a “buy” rating and set a $174.00 target price (up previously from $149.00) on shares of Wynn Resorts in a research note on Friday, September 29th. Finally, Gabelli restated a “buy” rating and set a $230.00 target price on shares of Wynn Resorts in a research note on Tuesday. Ten investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $172.15.

The company has a debt-to-equity ratio of 24.54, a current ratio of 1.72 and a quick ratio of 1.68. The firm has a market cap of $20,040.00, a P/E ratio of 26.82 and a beta of 1.73.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Wednesday, January 24th. The casino operator reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.07. Wynn Resorts had a net margin of 6.24% and a return on equity of 132.96%. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the previous year, the company earned $0.50 EPS. The business’s revenue was up 29.9% on a year-over-year basis. equities research analysts predict that Wynn Resorts, Limited will post 5.38 earnings per share for the current year.

In other news, Director Alvin V. Shoemaker sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $151.74, for a total value of $2,276,100.00. Following the completion of the transaction, the director now directly owns 19,162 shares in the company, valued at approximately $2,907,641.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kimmarie Sinatra sold 20,795 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $152.03, for a total transaction of $3,161,463.85. Following the completion of the transaction, the executive vice president now owns 226,992 shares of the company’s stock, valued at $34,509,593.76. The disclosure for this sale can be found here. Insiders sold a total of 95,055 shares of company stock valued at $14,629,975 over the last 90 days. Corporate insiders own 13.20% of the company’s stock.

Several large investors have recently modified their holdings of the company. Sunbelt Securities Inc. raised its position in shares of Wynn Resorts by 0.4% in the 2nd quarter. Sunbelt Securities Inc. now owns 2,050 shares of the casino operator’s stock valued at $275,000 after buying an additional 8 shares in the last quarter. Cookson Peirce & Co. Inc. raised its position in shares of Wynn Resorts by 1.3% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 3,230 shares of the casino operator’s stock valued at $433,000 after buying an additional 40 shares in the last quarter. Thrivent Financial For Lutherans raised its position in shares of Wynn Resorts by 4.1% in the 2nd quarter. Thrivent Financial For Lutherans now owns 3,030 shares of the casino operator’s stock valued at $406,000 after buying an additional 120 shares in the last quarter. Sentry Investment Management LLC raised its position in shares of Wynn Resorts by 4.2% in the 2nd quarter. Sentry Investment Management LLC now owns 5,940 shares of the casino operator’s stock valued at $797,000 after buying an additional 237 shares in the last quarter. Finally, Cibc Bank USA grew its holdings in shares of Wynn Resorts by 1.3% during the 4th quarter. Cibc Bank USA now owns 22,615 shares of the casino operator’s stock valued at $3,813,000 after purchasing an additional 295 shares during the last quarter. Institutional investors own 71.99% of the company’s stock.

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About Wynn Resorts

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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