Wynn Resorts, Limited (NASDAQ:WYNN) will publish its third quarter results, after the closing bell on Monday, November 4.

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

On October 22, Morgan Stanley analyst Stephen Grambling maintained Wynn Resorts at overweight. He also raised the price target from $112 to $115.

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

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

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

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

Assuming a more conservative goal of $100 per month ($1,200 per year), we do the same calculation: $1,200 / $1.00 = 1,200 shares, or $114,816 to generate monthly dividend income of $100.

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Note that the dividend yield can change continuously, as the dividend payment and stock price both fluctuate over time.

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

For example, if a stock pays an annual dividend of $2 and its current price is $50, its dividend yield would be 4%. However, if the stock price increases to $60, the dividend yield would decrease to 3.33% ($2/$60).

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

Additionally, the dividend payout itself may also change over time, which may also impact the dividend yield. If a company increases its dividend payout, the dividend yield will increase even if the stock price stays the same. Likewise, if a company decreases its dividend payout, the dividend yield will decrease.

WYNN Price Action: Shares of Wynn Resorts fell 0.4% to close at $95.68 on Friday.

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

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