MGM Resorts International (NYSE:MGM) Releases Earnings Results

MGM Resorts International (NYSE:MGM) issued its earnings results on Wednesday. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.20, Briefing.com reports. The company had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a net margin of 5.35% and a return on equity of 23.62%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the business posted $0.59 EPS.

MGM Resorts International Price Performance

MGM Resorts International stock traded down $6.10 during trading hours on Thursday, hitting $36.87. 15,365,128 shares of the stock were exchanged, compared to its average volume of 3,793,869. The stock has a market capitalization of $11.57 billion, a P/E ratio of 14.18, a P/E/G ratio of 0.89 and a beta of 2.24. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.46 and a current ratio of 1.51. MGM Resorts International has a 12 month low of $34.12 and a 12 month high of $49.63. The business’s 50-day moving average is $42.15 and its two-hundred day moving average is $42.83.

Wall Street Analyst Weigh In

MGM has been the subject of a number of research reports. Barclays lifted their target price on shares of MGM Resorts International from $55.00 to $56.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Wells Fargo & Company cut their price target on shares of MGM Resorts International from $55.00 to $53.00 and set an “overweight” rating on the stock in a report on Thursday. JPMorgan Chase & Co. raised their price target on shares of MGM Resorts International from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. JMP Securities raised their price target on shares of MGM Resorts International from $58.00 to $59.00 and gave the company a “market outperform” rating in a report on Wednesday, July 17th. Finally, StockNews.com downgraded shares of MGM Resorts International from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, MGM Resorts International currently has an average rating of “Moderate Buy” and an average target price of $55.09.

Insider Activity at MGM Resorts International

In other news, Director Keith A. Meister sold 139,300 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $40.44, for a total transaction of $5,633,292.00. Following the sale, the director now owns 5,859,478 shares in the company, valued at $236,957,290.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Keith A. Meister sold 139,300 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $40.44, for a total transaction of $5,633,292.00. Following the sale, the director now directly owns 5,859,478 shares of the company’s stock, valued at $236,957,290.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alexis Herman sold 4,344 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $41.50, for a total transaction of $180,276.00. The disclosure for this sale can be found here. Insiders sold 147,988 shares of company stock valued at $5,991,759 in the last three months. Corporate insiders own 2.13% of the company’s stock.

MGM Resorts International Company Profile

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and internationally. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.