Wynn Resorts, Limited (NASDAQ:WYNN) will announce third-quarter earnings results Closing bell on Monday, November 4th.

Wall Street expects the Las Vegas, Nevada-based company to report quarterly earnings of $1.01 per share, down from 99 cents per share a year earlier. The company plans to report revenue of $1.73 billion, compared to $1.67 billion a year ago, according to company data. Benzinga Pro.

On October 22, Morgan Stanley analyst Stephen Grambling maintained Wynn Resorts as Overweight. He also raised his price target to $115 from $112.

With recent developments for Wynn Resorts ahead of quarterly earnings, some investors may also be eyeing potential gains from the company’s dividends. Wynn Resorts currently offers a 1.05% annual dividend yield. This translates into a quarterly dividend of 25 cents per share ($1.00 per year).

To learn how to make $500 per month, start with a goal of $6,000 per year ($500 x 12 months).

Next, we take that amount and divide it by Wynn Resorts’ $1.00 dividend: $6,000 / $1.00 = 6,000 shares.

So, to earn $500 in monthly dividend income, an investor would need to own approximately $574,080 worth of Wynn Resorts, or 6,000 shares.

We do the same calculation assuming a more conservative goal of $100 per month ($1,200 per year): $1,200 / $1.00 = 1,200 shares, or $114,816, generating $100 per month in dividend income.

View more earnings at WYNN

Keep in mind that dividend yield can change constantly, as dividend payout and stock prices fluctuate over time.

Dividend yield is calculated by dividing the annual dividend payment by the current stock price. As the stock price changes, the dividend yield will also change.

For example, if a stock pays a $2 annual dividend and its current price is $50, the dividend yield will be 4%. However, if the stock price rises to $60, the dividend yield will drop to 3.33% ($2/$60).

Conversely, if the stock price falls to $40, the dividend yield will increase to 5% ($2/$40).

Additionally, the dividend payment itself may change over time, which can affect dividend yield. If a company increases its dividend payment, the dividend yield will increase even if the stock price remains the same. Similarly, if a company reduces its dividend payment, its dividend yield will also decrease.

WYNN Price Action: Shares of Wynn Resorts closed down 0.4% at $95.68 on Friday.

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This article How to Make $500 a Month on Wynn Resorts Stock Ahead of Q3 Earnings. originally appeared Benzinga.com

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