MGM Resorts International (NYSE:MGM) declared a quarterly dividend on Thursday, July 27th, RTT News reports. Stockholders of record on Monday, September 11th will be paid a dividend of 0.11 per share on Friday, September 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.30%.

MGM Resorts International has a dividend payout ratio of 36.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect MGM Resorts International to earn $1.46 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 30.1%.

Shares of MGM Resorts International (MGM) traded down 0.68% on Thursday, hitting $33.64. 14,460,004 shares of the stock were exchanged. MGM Resorts International has a 52-week low of $23.38 and a 52-week high of $34.46. The company has a market cap of $19.33 billion, a price-to-earnings ratio of 15.63 and a beta of 1.47. The company has a 50 day moving average of $32.54 and a 200 day moving average of $29.69.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Thursday, April 27th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.12. MGM Resorts International had a net margin of 12.25% and a return on equity of 7.76%. The business had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.63 billion. During the same period last year, the business earned $0.16 earnings per share. The business’s quarterly revenue was up 22.6% on a year-over-year basis. Equities research analysts forecast that MGM Resorts International will post $1.27 earnings per share for the current year.

Several research analysts have recently issued reports on MGM shares. TheStreet upgraded shares of MGM Resorts International from a “c+” rating to a “b” rating in a report on Friday, April 28th. UBS AG restated a “buy” rating on shares of MGM Resorts International in a report on Tuesday, April 11th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $36.00 target price on shares of MGM Resorts International in a report on Tuesday, April 4th. Aegis restated a “buy” rating on shares of MGM Resorts International in a report on Sunday, April 23rd. Finally, Instinet restated a “buy” rating and issued a $35.00 target price (up previously from $34.00) on shares of MGM Resorts International in a report on Saturday, April 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $34.19.

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In other MGM Resorts International news, COO Corey Ian Sanders sold 21,441 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $31.60, for a total transaction of $677,535.60. Following the completion of the transaction, the chief operating officer now owns 210,558 shares of the company’s stock, valued at $6,653,632.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Mcmanus sold 14,942 shares of the firm’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $30.74, for a total value of $459,317.08. Following the transaction, the executive vice president now directly owns 93,517 shares of the company’s stock, valued at approximately $2,874,712.58. The disclosure for this sale can be found here. Insiders have sold 83,070 shares of company stock valued at $2,591,372 in the last three months. Insiders own 12.20% of the company’s stock.

About MGM Resorts International

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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