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. Investors 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 1.42%. The ex-dividend date is Friday, September 8th. View MGM Resorts International's Dividend History.

MGM Resorts International announced that its Board of Directors has approved a stock repurchase program on Wednesday, September 6th 2017, which authorizes the company to repurchase $1,000,000,000.00 in shares, according to EventVestor. This repurchase authorization authorizes the company to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

MGM Resorts International (NYSE:MGM) issued its quarterly earnings results on Thursday, July, 27th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.03. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.67 billion. MGM Resorts International had a return on equity of 7.97% and a net margin of 9.26%. The firm's quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the firm earned $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 brokerages have issued 12 month price targets for MGM Resorts International's stock. Their predictions range from $31.00 to $40.00. On average, they expect MGM Resorts International's share price to reach $35.77 in the next twelve months. 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, "A tough operating environment in Macau weighed on MGM Resorts’ revenues since Jun 2014 to the most part of 2016. Though revival of gaming revenues in Macau is a huge positive, still it will take some time for the company to fully capitalize on it. In the second quarter, revenues at MGM China fell 1% due to lower revenues from main-floor table games. In fact, MGM Resorts’ shares have underperformed the industry year to date. Estimates too have been going down ahead of its third quarter earnings release. However, strong portfolio and focus on non-gaming activities could offset the headwinds to some extent. Moreover, the company’s properties in Las Vegas should continue to cash in on the favorable trends of improving employment rate and positive tourism numbers in the region. Also, it has mostly positive record of earnings surprises in recent quarters. Yet, heightened competition and increased debt pressure are concerns." (10/18/2017)
• 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 decline in short interest in the month of September. As of September 15th, there was short interest totalling 22,285,518 shares, a decline of 12.3% from the August 31st total of 25,407,955 shares. Based on an average trading volume of 9,665,047 shares, the short-interest ratio is presently 2.3 days. Currently, 4.4% of the shares of the stock are short sold.

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

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 variety of of institutional and retail investors. Top institutional shareholders include TRACINDA CORP (8.36%), SENATOR INVESTMENT GROUP LP (5.57%), Assenagon Asset Management S.A. (0.46%), APG Asset Management N.V. (0.10%), Centre Asset Management LLC (0.03%) and State Treasurer State of Michigan (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 Assenagon Asset Management S.A., Centre Asset Management LLC, State Treasurer State of Michigan, Mutual of America Capital Management LLC, APG Asset Management N.V., Shell Asset Management Co., Oakbrook Investments LLC and LS Investment Advisors 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 $31.03.