MGM Resorts International (NYSE:MGM) – Investment analysts at Jefferies Group boosted their Q1 2018 EPS estimates for shares of MGM Resorts International in a research note issued on Wednesday. Jefferies Group analyst D. Katz now forecasts that the company will earn $0.38 per share for the quarter, up from their prior forecast of $0.29. Jefferies Group has a “Buy” rating and a $43.00 price objective on the stock. Jefferies Group also issued estimates for MGM Resorts International’s Q2 2018 earnings at $0.43 EPS, Q3 2018 earnings at $0.44 EPS and Q4 2018 earnings at $0.31 EPS.
A number of other research analysts have also recently commented on the stock. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $44.00 target price (up previously from $41.00) on shares of MGM Resorts International in a report on Tuesday, January 9th. Roth Capital started coverage on shares of MGM Resorts International in a report on Wednesday, October 25th. They issued a “buy” rating and a $38.00 target price for the company. Zacks Investment Research raised shares of MGM Resorts International from a “sell” rating to a “hold” rating in a report on Friday, November 10th. Nomura dropped their target price on shares of MGM Resorts International from $38.00 to $37.00 and set a “buy” rating for the company in a report on Wednesday, November 1st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $36.00 price objective (up previously from $33.00) on shares of MGM Resorts International in a research note on Thursday, November 9th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $37.38.
MGM Resorts International (NYSE:MGM) opened at $34.40 on Thursday. The company has a market cap of $19,650.66, a PE ratio of 10.12, a PEG ratio of 6.10 and a beta of 1.44. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 1.26. MGM Resorts International has a fifty-two week low of $25.15 and a fifty-two week high of $38.41.
MGM Resorts International (NYSE:MGM) last posted its earnings results on Tuesday, February 20th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. The firm had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.51 billion. MGM Resorts International had a net margin of 17.92% and a return on equity of 5.98%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Friday, March 9th will be paid a $0.12 dividend. The ex-dividend date is Thursday, March 8th. This represents a $0.48 annualized dividend and a dividend yield of 1.40%. This is an increase from MGM Resorts International’s previous quarterly dividend of $0.11. MGM Resorts International’s dividend payout ratio is currently 12.94%.
In other news, Director Sean Charland bought 25,000 shares of the firm’s stock in a transaction on Wednesday, December 6th. The stock was acquired at an average price of $22.50 per share, with a total value of $562,500.00. Also, insider Phyllis James sold 19,149 shares of the stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $33.64, for a total transaction of $644,172.36. Following the sale, the insider now directly owns 8,961 shares of the company’s stock, valued at approximately $301,448.04. The disclosure for this sale can be found here. Insiders bought 95,000 shares of company stock valued at $581,500 in the last ninety days. 12.20% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in MGM. Sun Life Financial INC acquired a new stake in MGM Resorts International during the 3rd quarter valued at approximately $124,000. Cerebellum GP LLC acquired a new stake in MGM Resorts International during the 4th quarter valued at approximately $126,000. Northwestern Mutual Wealth Management Co. increased its position in MGM Resorts International by 88.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,945 shares of the company’s stock valued at $165,000 after purchasing an additional 2,318 shares during the period. Toronto Dominion Bank increased its position in MGM Resorts International by 12.4% during the 2nd quarter. Toronto Dominion Bank now owns 5,644 shares of the company’s stock valued at $177,000 after purchasing an additional 624 shares during the period. Finally, Spirit of America Management Corp NY increased its position in MGM Resorts International by 78.1% during the 4th quarter. Spirit of America Management Corp NY now owns 5,700 shares of the company’s stock valued at $190,000 after purchasing an additional 2,500 shares during the period. 82.31% of the stock is owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY NOTICE: This piece of content was posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this piece of content on another publication, it was illegally stolen and republished in violation of United States & international trademark & copyright law. The correct version of this piece of content can be viewed at https://www.dispatchtribunal.com/2018/02/22/jefferies-group-analysts-lift-earnings-estimates-for-mgm-resorts-international-mgm.html.
MGM Resorts International Company Profile
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.
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.