MGM Resorts International (MGM) to Release Quarterly Earnings on Thursday
MGM Resorts International (NYSE:MGM) will be announcing its Q313 earnings results on Thursday, October 31st. Analysts expect the company to announce earnings of ($0.03) per share and revenue of $2.41 billion for the quarter.
MGM Resorts International (NYSE:MGM) last released its earnings data on Tuesday, August 6th. The company reported $0.04 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.01 by $0.03. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the prior year, the company posted ($0.12) earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. On average, analysts expect MGM Resorts International to post $0.01 EPS for the current fiscal year and $0.19 EPS for the next fiscal year.
Shares of MGM Resorts International (NYSE:MGM) opened at 20.22 on Wednesday. MGM Resorts International has a 1-year low of $9.15 and a 1-year high of $19.35. The stock’s 50-day moving average is $17.54 and its 200-day moving average is $14.93. The company’s market cap is $9.900 billion.
A number of research firms have recently commented on MGM. Analysts at Morgan Stanley reiterated an “equal weight” rating on shares of MGM Resorts International in a research note to investors on Wednesday, October 16th. They now have a $20.00 price target on the stock, up previously from $17.00. On a related note, analysts at Barclays reiterated an “overweight” rating on shares of MGM Resorts International in a research note to investors on Wednesday, October 16th. They now have a $24.00 price target on the stock, up previously from $20.00. Finally, analysts at Nomura reiterated a “buy” rating on shares of MGM Resorts International in a research note to investors on Thursday, October 3rd. They now have a $23.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the company. MGM Resorts International currently has a consensus rating of “Buy” and an average price target of $22.02.
MGM Resorts International is a holding company. The Company is a hospitality company. The Company’s primary business is the ownership and operation of casino resorts, which includes offering gaming, hotel, convention, dining, entertainment, retail and other resort amenities.