MGM Resorts International (NYSE:MGM) Issues Quarterly Earnings Results, Beats Estimates By $0.20 EPS

MGM Resorts International (NYSE:MGM) issued its quarterly earnings results on Wednesday. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.20, Briefing.com reports. MGM Resorts International had a return on equity of 25.67% and a net margin of 5.15%. The firm had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same period in the previous year, the company posted $0.59 earnings per share. The company’s quarterly revenue was up 9.8% compared to the same quarter last year.

MGM Resorts International Stock Down 3.1 %

MGM stock traded down $1.16 during trading hours on Friday, reaching $36.13. 634,989 shares of the stock were exchanged, compared to its average volume of 3,806,830. The firm’s 50-day moving average is $42.15 and its 200-day moving average is $42.83. The company has a market cap of $11.33 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 0.89 and a beta of 2.24. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.51 and a quick ratio of 1.46. MGM Resorts International has a 12 month low of $34.12 and a 12 month high of $48.36.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MGM. 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. Susquehanna upped their price objective on MGM Resorts International from $54.00 to $55.00 and gave the company a “positive” rating in a research note on Thursday. BTIG Research began coverage on MGM Resorts International in a research note on Wednesday, July 3rd. They issued a “buy” rating and a $52.00 price objective on the stock. Mizuho upped their price objective on MGM Resorts International from $61.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, Wells Fargo & Company decreased their price target on MGM Resorts International from $55.00 to $53.00 and set an “overweight” rating on the stock in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $54.97.

Insiders Place Their Bets

In other MGM Resorts International news, Director Alexis Herman sold 4,344 shares of the stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $41.50, for a total transaction of $180,276.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Alexis Herman sold 4,344 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $41.50, for a total value of $180,276.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Keith A. Meister sold 139,300 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now owns 5,859,478 shares of the company’s stock, valued at $236,957,290.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 147,988 shares of company stock worth $5,991,759. Corporate insiders own 2.13% of the company’s stock.

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.