MGM Resorts International Plans Quarterly Dividend of $0.13 (NYSE:MGM)

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MGM Resorts International (NYSE:MGM) declared a quarterly dividend on Wednesday, October 30th, RTT News reports. Investors of record on Tuesday, December 10th will be paid a dividend of 0.13 per share on Monday, December 16th. This represents a $0.52 annualized dividend and a yield of 1.81%.

NYSE:MGM traded up $0.03 during mid-day trading on Thursday, hitting $28.66. 2,049,956 shares of the stock traded hands, compared to its average volume of 4,805,874. The business’s 50-day moving average price is $28.09 and its 200 day moving average price is $27.78. The company has a market cap of $14.88 billion, a PE ratio of 28.94, a price-to-earnings-growth ratio of 3.67 and a beta of 1.48. MGM Resorts International has a 12-month low of $21.61 and a 12-month high of $31.68. The company has a quick ratio of 0.69, a current ratio of 0.73 and a debt-to-equity ratio of 1.39.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.29 by $0.02. The company had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.33 billion. MGM Resorts International had a net margin of 1.56% and a return on equity of 3.77%. MGM Resorts International’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.24 earnings per share. Analysts anticipate that MGM Resorts International will post 0.83 earnings per share for the current fiscal year.

In other news, Director Rose Mckinney-James sold 2,670 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $28.15, for a total value of $75,160.50. Following the completion of the sale, the director now directly owns 4,616 shares in the company, valued at approximately $129,940.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Atif Rafiq acquired 8,761 shares of the stock in a transaction dated Thursday, August 22nd. The stock was acquired at an average price of $28.55 per share, with a total value of $250,126.55. Following the completion of the acquisition, the insider now owns 8,761 shares in the company, valued at approximately $250,126.55. The disclosure for this purchase can be found here. Insiders own 3.47% of the company’s stock.

Several brokerages recently commented on MGM. Nomura boosted their price objective on shares of MGM Resorts International from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Argus lifted their target price on shares of MGM Resorts International to $35.00 and gave the company a “buy” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. dropped their target price on shares of MGM Resorts International from $37.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, September 6th. Bank of America lowered shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Finally, Citigroup initiated coverage on shares of MGM Resorts International in a research report on Wednesday, July 24th. They set a $23.00 target price for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $31.20.

MGM Resorts International Company Profile

MGM Resorts International, through its subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts in the United States and Macau. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.

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Dividend History for MGM Resorts International (NYSE:MGM)

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