How To Earn $500 A Month From Wynn Resorts Stock Ahead Of Q4 Print
Wynn Resorts, Limited (NASDAQ: WYNN) is expected to release earnings results for its fourth quarter, after the closing bell on Feb. 7, 2024.
Analysts expect the casino company to report quarterly earnings at $1.15 per share, versus a year-ago loss of $1.23 per share. The company is projected to post revenue of $1.74 billion, compared to $1 billion in the year-earlier quarter, according to data from Benzinga Pro.
Macquarie, last month, upgraded Wynn Resorts from Neutral to Outperform and raised the price target from $115 to $122.
The Las Vegas-based company, during November, reported better-than-expected earnings for its third quarter. It reported third quarter operating revenue of $1.67 billion, which was up from a total of $889.7 million reported in the prior year's period, and compared to a Street consensus estimate of $1.585 billion.
With the recent buzz around Wynn Resorts, some investors may be eyeing potential gains from the company’s dividends too. As of now, Wynn Resorts offers an annual dividend yield of 1.00%, which is a quarterly dividend amount of 25 cents per share ($1.00 a year).
So, how can investors exploit its dividend yield to pocket a regular $500 monthly?
To earn $500 per month or $6,000 annually from dividends alone, you would need an investment of approximately $600,360 or around 6,000 shares. For a more modest $100 per month or $1,200 per year, you would need $120,072 or around 1,200 shares.
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To calculate: Divide the desired annual income ($6,000 or $1,200) by the dividend ($1.00 in this case). So, $6,000 / $1.00 = 6,000 ($500 per month), and $1,200 / $1.00 = 1,200 shares ($100 per month).
Note that dividend yield can change on a rolling basis, as the dividend payment and the stock price both fluctuate over time.
How that works: The dividend yield is computed by dividing the annual dividend payment by the stock's current price.
For example, if a stock pays an annual dividend of $2 and is currently priced at $50, the dividend yield would be 4% ($2/$50). However, if the stock price increases to $60, the dividend yield drops to 3.33% ($2/$60). Conversely, if the stock price falls to $40, the dividend yield rises to 5% ($2/$40).
Similarly, changes in the dividend payment can impact the yield. If a company increases its dividend, the yield will also increase, provided the stock price stays the same. Conversely, if the dividend payment decreases, so will the yield.
WYNN Price Action: Shares of Wynn Resorts gained 2.6% to close at $100.06 on Tuesday.
Read More: Investing in real estate just got a whole lot simpler. This Jeff Bezos-backed startup will allow you to become a landlord in just 10 minutes, and you only need $100.
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This article How To Earn $500 A Month From Wynn Resorts Stock Ahead Of Q4 Print originally appeared on Benzinga.com
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