MGM Resorts International (NYSE:MGM) Announces Quarterly Earnings Results

MGM Resorts International (NYSE:MGM) released its quarterly earnings data on Wednesday. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.18, Briefing.com reports. The company had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.24 billion. MGM Resorts International had a net margin of 7.07% and a return on equity of 20.51%. The business’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.44 earnings per share.

MGM Resorts International Stock Up 0.7 %

NYSE:MGM opened at $39.73 on Thursday. MGM Resorts International has a 52 week low of $34.12 and a 52 week high of $51.35. The firm has a market capitalization of $12.60 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 1.62 and a beta of 2.22. The company has a current ratio of 1.57, a quick ratio of 1.53 and a debt-to-equity ratio of 1.46. The stock has a 50 day moving average of $43.63 and a 200-day moving average of $42.24.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 325,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total value of $13,942,500.00. Following the sale, the director now owns 6,098,778 shares in the company, valued at $261,637,576.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.13% of the company’s stock.

Analyst Upgrades and Downgrades

MGM has been the subject of a number of research reports. JMP Securities reiterated a “market outperform” rating and issued a $57.00 price target on shares of MGM Resorts International in a report on Wednesday, February 14th. Morgan Stanley upped their target price on MGM Resorts International from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Bank Of America (Bofa) raised their target price on MGM Resorts International from $45.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Macquarie restated an “outperform” rating and issued a $58.00 price target on shares of MGM Resorts International in a report on Wednesday, February 14th. Finally, Susquehanna upgraded shares of MGM Resorts International from a “neutral” rating to a “positive” rating and set a $54.00 price objective on the stock in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $55.72.

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.