MGM Resorts International (NYSE:MGM) announced a quarterly dividend on Thursday, November 1st, Wall Street Journal reports. Investors of record on Monday, December 10th will be paid a dividend of 0.12 per share on Friday, December 14th. This represents a $0.48 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Friday, December 7th.
MGM Resorts International has a payout ratio of 41.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect MGM Resorts International to earn $1.33 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 36.1%.
NYSE:MGM opened at $26.96 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.74 and a debt-to-equity ratio of 1.36. MGM Resorts International has a 12 month low of $23.81 and a 12 month high of $38.41. The company has a market capitalization of $14.21 billion, a price-to-earnings ratio of 32.10, a P/E/G ratio of 3.44 and a beta of 1.39.
A number of equities research analysts have commented on MGM shares. Zacks Investment Research raised shares of MGM Resorts International from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 8th. Barclays cut their target price on shares of MGM Resorts International from $39.00 to $37.00 and set an “overweight” rating for the company in a research report on Monday, August 6th. Bank of America reaffirmed a “buy” rating and issued a $30.00 target price on shares of MGM Resorts International in a research report on Tuesday, October 16th. Credit Suisse Group started coverage on shares of MGM Resorts International in a research report on Tuesday, August 14th. They issued a “neutral” rating and a $31.00 target price for the company. Finally, Sanford C. Bernstein started coverage on shares of MGM Resorts International in a research report on Thursday, November 15th. They issued a “market perform” rating for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $36.36.
In other news, insider Phyllis James sold 15,815 shares of MGM Resorts International stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $28.26, for a total transaction of $446,931.90. Following the transaction, the insider now owns 13,164 shares in the company, valued at approximately $372,014.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 12.20% of the company’s stock.
WARNING: This story was originally reported by Community Financial News and is owned by of Community Financial News. If you are viewing this story on another website, it was stolen and republished in violation of United States & international copyright and trademark law. The legal version of this story can be read at https://www.com-unik.info/2018/12/02/mgm-resorts-international-mgm-to-issue-quarterly-dividend-of-0-12-on-december-14th.html.
About MGM Resorts International
MGM Resorts International, through its subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts in the United States and China. The company operates through two segments, Domestic Resorts and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.
Featured Story: What are no-load funds?
Receive News & Ratings for MGM Resorts International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGM Resorts International and related companies with MarketBeat.com's FREE daily email newsletter.