MGM Resorts International (NYSE:MGM) announced a quarterly dividend on Tuesday, February 20th, RTT News reports. Shareholders of record on Friday, March 9th will be given a dividend of 0.12 per share on Thursday, March 15th. This represents a $0.48 annualized dividend and a yield of 1.38%. This is an increase from MGM Resorts International’s previous quarterly dividend of $0.11.
MGM Resorts International has a payout ratio of 40.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect MGM Resorts International to earn $1.42 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 31.0%.
Shares of MGM Resorts International (NYSE:MGM) opened at $34.71 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 1.26. MGM Resorts International has a 1 year low of $25.15 and a 1 year high of $38.41. The stock has a market cap of $19,514.78, a price-to-earnings ratio of 34.03, a price-to-earnings-growth ratio of 6.06 and a beta of 1.44.
MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Tuesday, February 20th. The company reported $0.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.02. The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.51 billion. MGM Resorts International had a net margin of 5.44% and a return on equity of 6.47%. The company’s revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.11 earnings per share. equities analysts anticipate that MGM Resorts International will post 1.09 EPS for the current fiscal year.
In related news, insider Phyllis James sold 19,149 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $33.64, for a total value of $644,172.36. Following the transaction, the insider now directly owns 8,961 shares in the company, valued at $301,448.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sean Charland purchased 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The stock was acquired at an average price of $22.50 per share, for a total transaction of $562,500.00. Insiders purchased 95,000 shares of company stock worth $581,500 over the last 90 days. 12.20% of the stock is currently owned by corporate insiders.
Several equities analysts have recently weighed in on the stock. Stifel Nicolaus increased their price objective on shares of MGM Resorts International from $36.00 to $37.00 and gave the company a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of MGM Resorts International from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, November 1st. Zacks Investment Research raised shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Monday, February 5th. Jefferies Group assumed coverage on shares of MGM Resorts International in a research report on Thursday, January 18th. They issued a “buy” rating and a $43.00 price objective on the stock. Finally, Nomura dropped their price objective on shares of MGM Resorts International from $38.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday, November 1st. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $37.44.
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MGM Resorts International Company Profile
MGM Resorts International is a holding company. The Company, through its subsidiaries, owns and operates casino resorts. The Company operates in two segments: domestic resorts and MGM China. Its domestic resorts segment consists of non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities.
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