MGM Resorts International Company Profile (NYSE:MGM)

MGM Resorts International trades on the New York Stock Exchange (NYSE) under the ticker symbol "MGM."

MGM Resorts International announced a quarterly dividend on Thursday, July 27th. Shareholders of record on Monday, September 11th will be given a dividend of $0.11 per share on Friday, September 15th. This represents a $0.44 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Friday, September 8th. View MGM Resorts International's Dividend History.

MGM Resorts International declared that its Board of Directors has initiated a share repurchase program on Wednesday, September 6th 2017, which allows the company to buyback $1,000,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization allows the company to purchase up to 5.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board believes its shares are undervalued.

MGM Resorts International (NYSE:MGM) released its earnings results on Thursday, July, 27th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.28 by $0.03. The firm earned $2.64 billion during the quarter, compared to analysts' expectations of $2.67 billion. MGM Resorts International had a return on equity of 7.97% and a net margin of 9.26%. MGM Resorts International's quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.29 EPS. View MGM Resorts International's Earnings History.

MGM Resorts International is scheduled to release their next quarterly earnings announcement on Wednesday, November, 8th 2017. View Earnings Estimates for MGM Resorts International.

16 analysts have issued 12-month target prices for MGM Resorts International's stock. Their predictions range from $31.00 to $40.00. On average, they anticipate MGM Resorts International's stock price to reach $35.77 in the next year. View Analyst Ratings for MGM Resorts International.

Here are some recent quotes from research analysts about MGM Resorts International stock:

• 1. According to Zacks Investment Research, "MGM Resorts’ second-quarter 2017 adjusted earnings of $0.31 per share beat the Zacks Consensus Estimate by 10.7% and rose 19.2% year over year on higher revenues. Total revenue of $2.64 billion lagged the consensus mark by around 1% but rose 16.4% year over year. Higher revenues from its Las Vegas operations were partially offset by weak results at MGM China. Thus, despite the improving gaming trends, it will take some time for the company to fully capitalize on the rebound in Macau gaming revenues. In fact, MGM Resorts’ shares have underperformed the industry year to date. Fears of another corruption crackdown may further hamper performance. Even so, the company’s strong portfolio, new resort openings and focus on non-gaming activities bode well. Improving economy and growing tourism in Las Vegas should also drive revenue growth at its properties in the region. Yet, increased competition and debt pressure are concerns." (7/28/2017)
• 2. Instinet analysts commented, "The level of vitriol towards MGM post its 4Q16 muff has risen to a level that reminds us of NCLH after it missed and lowered in 3Q last year. MGM is off 8% YTD vs. a 6% gain for the S&P 500 and +8% for the S&P Hotels, Resorts & Cruise Lines Index, and its forward EBITDA multiple has contracted to a near low of 9x. In our view, though, the $1.5b in MGM's lost market cap is an opportunity for investors who, like us, believe in the pricing power of Vegas as well as improving visibility of MGM's free cash flow. Just as when we wrote on NCLH last August, we believe there is 23% upside in MGM's stock from current levels. In this note, we argue that consensus RevPAR estimates for 2017 are reasonable at +4-5%, but that the Street's expectation for higher RevPAR in 2Q and lower in 3Q should be inverted. We expect 2Q to be more challenged (+2% y/y) due to the Easter shift (consensus is over 4%), but 3Q should be at least 3% (versus buy-side consensus of 0-1%)." (3/16/2017)
• 3. Aegis analysts commented, "MGM put itself in the 'show-me' category yesterday, essentially calling out 3Q16 and 4Q15 as somewhat lower-quality, boosted by calendar and one-time events which created 4Q16 expectations that were too high. The stock's saving grace is valuation, now at 11.1x/9.8x CY17/CY18 EV/EBITDA, a peer low (downside from current prices likely minimal). However, we struggle to find a catalyst outside of upcoming 1Q17 results under reset expectations and expect shares to be range-bound near-term. Longer-term, nothing is broken and the strong Las Vegas backdrop and Macau recovery tailwinds remain. However, investors will likely have to wait longer (we believe 1Q17 report) to begin to see true upward stock momentum." (2/17/2017)

MGM Resorts International saw a decrease in short interest in September. As of September 15th, there was short interest totalling 22,285,518 shares, a decrease of 12.3% from the August 31st total of 25,407,955 shares. Based on an average daily volume of 9,665,047 shares, the short-interest ratio is presently 2.3 days. Approximately 4.4% of the company's stock are sold short.

Some companies that are related to MGM Resorts International include Panasonic (PCRFY), Rogers Communication (RCI), Royal Caribbean Cruises (RCL), Liberty Global PLC (LBTYA), Sirius XM Holdings (SIRI), Liberty Global PLC (LBTYK), V.F. Corporation (VFC), CBS Corporation (CBS), DISH Network Corporation (DISH), Hilton Worldwide Holdings (HLT), Sky Plc (SKYAY), Mohawk Industries (MHK), TAL Education Group (TAL), Liberty Broadband Corporation (LBRDK), Liberty Broadband Corporation (LBRDA), Wynn Resorts, Limited (WYNN), New Oriental Education & Technology Group (EDU) and Carnival Corporation (CUK).

MGM Resorts International's management team includes the folowing people:

• James Joseph Murren, Chairman of the Board, Chief Executive Officer
• William Joseph Hornbuckle IV, President
• Daniel J. D'Arrigo, Chief Financial Officer, Executive Vice President
• Corey Ian Sanders, Chief Operating Officer
• Robert C. Selwood, Executive Vice President, Chief Accounting Officer
• John M. McManus, Executive Vice President, General Counsel, Secretary
• Phyllis A. James, Executive Vice President, Chief Diversity and Corporate Responsibility Officer
• Robert H. Baldwin, Chief Customer Development Officer , Director
• Roland A. Hernandez, Lead Independent Director
• William W. Grounds, Director

MGM Resorts International's stock is owned by a number of of retail and institutional investors. Top institutional investors include TRACINDA CORP (8.36%), SENATOR INVESTMENT GROUP LP (5.57%) and Centre Asset Management LLC (0.03%). Company insiders that own MGM Resorts International stock include Alexis Herman, Corey Ian Sanders, Corp Tracinda, Daniel D'arrigo, Daniel J Taylor, Edward Leith Ellwood, Eric Plexman, Gregory M Spierkel, James Murren, John Mcmanus, Mary Christine Gay, Phyllis James, Robert Baldwin, Robert Selwood, Roland A Hernandez, Rose Mckinney-James, William A Bible, William Hornbuckle and William Warwick Grounds. View Institutional Ownership Trends for MGM Resorts International.

MGM Resorts International's stock was purchased by a variety of institutional investors in the last quarter, including Centre Asset Management LLC. Company insiders that have bought MGM Resorts International stock in the last two years include Edward Leith Ellwood, Eric Plexman, Gregory M Spierkel, William A Bible and William Warwick Grounds. View Insider Buying and Selling for MGM Resorts International.

Shares of MGM Resorts International can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.

One share of MGM Resorts International stock can currently be purchased for approximately $30.49.