Q4 2018 EPS Estimates for MGM Resorts International (MGM) Reduced by Jefferies Financial Group

MGM Resorts International (NYSE:MGM) – Investment analysts at Jefferies Financial Group decreased their Q4 2018 earnings per share estimates for shares of MGM Resorts International in a research note issued to investors on Wednesday, October 31st. Jefferies Financial Group analyst D. Katz now expects that the company will earn $0.29 per share for the quarter, down from their prior estimate of $0.40. Jefferies Financial Group currently has a “Buy” rating on the stock. Jefferies Financial Group also issued estimates for MGM Resorts International’s Q1 2019 earnings at $0.46 EPS, Q4 2019 earnings at $0.49 EPS and FY2019 earnings at $1.92 EPS.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Tuesday, October 30th. The company reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.06. The business had revenue of $3.03 billion for the quarter, compared to analyst estimates of $2.99 billion. MGM Resorts International had a return on equity of 4.45% and a net margin of 16.75%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.34 EPS.

Other analysts have also issued research reports about the company. Bank of America reaffirmed a “buy” rating and issued a $30.00 target price on shares of MGM Resorts International in a report on Tuesday, October 16th. Morgan Stanley lowered their target price on MGM Resorts International from $38.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, August 3rd. Nomura lowered their target price on MGM Resorts International from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Monday, July 9th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $33.00 target price (down previously from $37.00) on shares of MGM Resorts International in a report on Friday, August 3rd. Finally, Zacks Investment Research raised MGM Resorts International from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $36.36.

MGM opened at $28.17 on Friday. The company has a market capitalization of $13.55 billion, a price-to-earnings ratio of 27.62, a price-to-earnings-growth ratio of 4.97 and a beta of 1.39. The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 1.25. MGM Resorts International has a 12-month low of $23.81 and a 12-month high of $38.41.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Monday, December 10th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Friday, December 7th. MGM Resorts International’s dividend payout ratio (DPR) is currently 47.06%.

In other news, insider Phyllis James sold 15,815 shares of MGM Resorts International stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $28.26, for a total transaction of $446,931.90. Following the sale, the insider now owns 13,164 shares of the company’s stock, valued at approximately $372,014.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Daniel D’arrigo sold 29,377 shares of MGM Resorts International stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $29.23, for a total value of $858,689.71. Following the sale, the chief financial officer now directly owns 260,676 shares in the company, valued at approximately $7,619,559.48. The disclosure for this sale can be found here. Insiders sold a total of 50,442 shares of company stock worth $1,456,087 in the last ninety days. Insiders own 12.20% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Cadence Capital Management LLC acquired a new stake in shares of MGM Resorts International during the 3rd quarter worth approximately $290,000. Gator Capital Management LLC grew its holdings in shares of MGM Resorts International by 13.1% during the 3rd quarter. Gator Capital Management LLC now owns 17,300 shares of the company’s stock worth $483,000 after purchasing an additional 2,000 shares in the last quarter. Gabelli Funds LLC grew its holdings in shares of MGM Resorts International by 8.3% during the 3rd quarter. Gabelli Funds LLC now owns 1,063,100 shares of the company’s stock worth $29,671,000 after purchasing an additional 81,100 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. grew its holdings in shares of MGM Resorts International by 22.2% during the 3rd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 11,000 shares of the company’s stock worth $307,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Gamco Investors INC. ET AL grew its holdings in shares of MGM Resorts International by 12.4% during the 3rd quarter. Gamco Investors INC. ET AL now owns 2,227,091 shares of the company’s stock worth $62,158,000 after purchasing an additional 245,391 shares in the last quarter. 80.06% of the stock is currently owned by institutional investors.

About MGM Resorts International

MGM Resorts International, through its subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts in the United States and China. The company operates through two segments, Domestic Resorts and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.

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Earnings History and Estimates for MGM Resorts International (NYSE:MGM)

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