MGM Resorts International (NYSE:MGM) Posts Earnings Results, Misses Expectations By $0.04 EPS

MGM Resorts International (NYSE:MGM) announced its quarterly earnings results on Wednesday. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.04), Briefing.com reports. The company had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.46%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the firm posted $0.64 earnings per share.

MGM Resorts International Trading Down 1.2 %

Shares of MGM traded down $0.46 during trading hours on Friday, hitting $36.41. 5,915,657 shares of the stock were exchanged, compared to its average volume of 4,116,498. MGM Resorts International has a fifty-two week low of $33.44 and a fifty-two week high of $48.24. The business has a 50-day moving average of $38.46 and a 200-day moving average of $40.22. The firm has a market capitalization of $10.84 billion, a P/E ratio of 13.00, a price-to-earnings-growth ratio of 1.02 and a beta of 2.23. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.47 and a quick ratio of 1.42.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. UBS Group raised shares of MGM Resorts International to a “hold” rating in a research note on Friday, August 23rd. Morgan Stanley upped their target price on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. Susquehanna increased their target price on MGM Resorts International from $54.00 to $55.00 and gave the company a “positive” rating in a research report on Thursday, August 1st. Wells Fargo & Company reduced their price target on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Finally, Stifel Nicolaus upped their price objective on MGM Resorts International from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.15.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the completion of the sale, the director now directly owns 5,738,478 shares in the company, valued at approximately $210,716,912.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO William Hornbuckle purchased 58,900 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was purchased at an average cost of $33.73 per share, with a total value of $1,986,697.00. Following the completion of the purchase, the chief executive officer now owns 377,112 shares in the company, valued at approximately $12,719,987.76. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Keith A. Meister sold 121,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $36.72, for a total value of $4,443,120.00. Following the transaction, the director now directly owns 5,738,478 shares in the company, valued at approximately $210,716,912.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have bought a total of 216,400 shares of company stock worth $7,312,197 over the last quarter. Company 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.