On Friday analysts at UBS downgraded casino operator Wynn Resorts, Limited (WYNN
) as it sees no major catalysts for growth in the company and challenges ahead.
The analysts downgraded WYNN from “Buy” to “Neutral” with a price target of $118. The new target is a +3.3% upside from Thursday’s closing price of $114.22.
Wynn Resorts shares were down $1.66, or -1.45%, in premarket trading on Friday. The stock is up +3.38% year-to-date.
Wynn Resorts is an owner and operator of casino hotel resorts in Las Vegas, Nevada and Macau. In the most recent quarter, WYNN reported a profit of $112 million on revenue of about $1.3 billion.
Wynn Resorts Dividend in FocusWynn has paid out a dividend of $2.00 per share over the past 12 months, plus a special dividend of $7.50 per share in November of 2012. This dividend payout represents a 1.75% dividend yield based on Thursday’s closing price of $114.22. The company has announced that it plans to double its quarterly dividend distribution to $1.00 per share beginning in 2013. Wynn’s last dividend was a regular 50 cent per share distribution and the $7.50 per share special dividend that was paid on November 20, 2012 (view the Dividend.com Ex-Dividend Tool for information on all upcoming ex-dividend dates).
Recent Wynn dividends include:
- June 4, 2012: $0.50
- August 14, 2012: $0.50
- November 20, 2012: $0.50
- November 20, 2012: $7.50 (Special)
Wynn has been paying the same dividend per quarter since April of 2011. The company is only a decade old and has a relatively short and inconsistent dividend payout history. In 2011 Wynn’s dividend payout ratio was 30.4%.
Wynn Resorts vs. the CompetitionDividend.com has identified a few stocks that are related to Wynn Resorts. Keep in mind that there are not many publicly owned direct competitors to Wynn Resorts. A few related companies include Las Vegas Sands (LVS), Ameristar Casino (ASCA), and Royal Caribbean Cruises, Ltd. (RCL). All of these companies have a dividend yield around 2%.
| Ticker | Company | Yield | DARS |
|---|---|---|---|
| WYNN | Wynn Resorts | 1.75% | 3.3 |
| LVS | Las Vegas Sands | 2.18% | 3.2 |
| ASCA | Ameristar Casino | 2.41% | 3.2 |
| RCL | Royal Caribbean Cruises, Ltd. | 1.40% | 3.2 |
Use the Dividend.com screener to see all dividend-paying consumer goods stocks, or run other custom searches for dividend-paying stocks.
Wynn Resorts, Limited (WYNN) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.