Wynn Resorts, Limited (NASDAQ:WYNN – Get Free Report) declared a quarterly dividend on Tuesday, August 4th. Stockholders of record on Friday, August 14th will be given a dividend of 0.25 per share by the casino operator on Friday, August 28th. This represents a c) dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, August 14th.
Wynn Resorts has a dividend payout ratio of 18.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Wynn Resorts to earn $5.27 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 19.0%.
Wynn Resorts Price Performance
WYNN opened at $104.79 on Wednesday. The firm has a market capitalization of $10.79 billion, a P/E ratio of 26.00, a price-to-earnings-growth ratio of 1.00 and a beta of 1.01. The company has a fifty day moving average price of $100.45 and a 200-day moving average price of $103.53. Wynn Resorts has a one year low of $92.52 and a one year high of $134.72.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. Capital World Investors raised its stake in Wynn Resorts by 0.6% during the 4th quarter. Capital World Investors now owns 9,542,392 shares of the casino operator’s stock valued at $1,148,236,000 after purchasing an additional 61,209 shares during the period. BlackRock Inc. purchased a new stake in shares of Wynn Resorts in the second quarter worth about $609,566,000. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Wynn Resorts by 9.5% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,680,631 shares of the casino operator’s stock worth $442,890,000 after acquiring an additional 320,502 shares during the last quarter. Egerton Capital UK LLP purchased a new position in shares of Wynn Resorts in the fourth quarter valued at $249,053,000. Finally, Invesco Ltd. grew its stake in shares of Wynn Resorts by 14.2% in the 4th quarter. Invesco Ltd. now owns 2,011,462 shares of the casino operator’s stock worth $242,039,000 after buying an additional 249,704 shares in the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.
Wynn Resorts Company Profile
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.
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