MGM Resorts International (NYSE:MGM) Issues Earnings Results, Beats Estimates By $0.08 EPS

MGM Resorts International (NYSE:MGM) released its quarterly earnings data on Wednesday. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.08, Zacks reports. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%.

MGM Resorts International Price Performance

NYSE MGM opened at $34.34 on Thursday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. The business’s fifty day moving average is $34.25 and its 200 day moving average is $36.81. The company has a market capitalization of $10.22 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 2.94 and a beta of 2.20. MGM Resorts International has a fifty-two week low of $31.61 and a fifty-two week high of $48.24.

Insider Buying and Selling

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the sale, the director now directly owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MGM has been the subject of several recent analyst reports. Morgan Stanley boosted their price target on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. BTIG Research lowered MGM Resorts International from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Mizuho raised their price target on shares of MGM Resorts International from $56.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday. JMP Securities reiterated a “market outperform” rating and issued a $50.00 price target on shares of MGM Resorts International in a research note on Thursday, January 16th. Finally, Stifel Nicolaus increased their price objective on shares of MGM Resorts International from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $51.94.

About MGM Resorts International

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.