MGM Resorts International (NYSE:MGM) announced a quarterly dividend on Thursday, July 30th, RTT News reports. Stockholders of record on Thursday, September 10th will be given a dividend of 0.0025 per share on Tuesday, September 15th. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.06%. The ex-dividend date is Wednesday, September 9th. This is an increase from MGM Resorts International’s previous quarterly dividend of $0.002.
MGM Resorts International has a payout ratio of -0.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect MGM Resorts International to earn ($0.69) per share next year, which means the company may not be able to cover its $0.01 annual dividend with an expected future payout ratio of -1.4%.
Shares of MGM Resorts International stock opened at $16.09 on Friday. The company has a quick ratio of 2.85, a current ratio of 2.89 and a debt-to-equity ratio of 1.51. MGM Resorts International has a 12 month low of $5.90 and a 12 month high of $34.63. The business has a fifty day simple moving average of $16.96 and a 200 day simple moving average of $19.82.
MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Thursday, April 30th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.13). MGM Resorts International had a negative return on equity of 6.66% and a net margin of 21.28%. The company had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period last year, the firm earned $0.12 earnings per share. The firm’s revenue for the quarter was down 29.1% on a year-over-year basis. As a group, equities research analysts expect that MGM Resorts International will post -3.62 EPS for the current fiscal year.
A number of equities research analysts recently commented on MGM shares. ValuEngine raised MGM Resorts International from a “hold” rating to a “buy” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. cut MGM Resorts International from an “overweight” rating to a “neutral” rating and set a $18.00 price objective for the company. in a research note on Friday, May 1st. Zacks Investment Research cut MGM Resorts International from a “hold” rating to a “strong sell” rating and set a $14.00 price objective for the company. in a research note on Tuesday, July 21st. Wolfe Research cut MGM Resorts International from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, June 10th. Finally, Jefferies Financial Group cut MGM Resorts International from a “buy” rating to a “hold” rating and decreased their target price for the company from $22.00 to $17.00 in a research note on Thursday, May 21st. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $18.54.
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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