MGM Resorts International (MGM) Releases Quarterly Earnings Results
MGM Resorts International (NYSE:MGM) issued its quarterly earnings data on Tuesday. The company reported $0.21 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.11 by $0.10, Analyst RN reports. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter last year, the company posted $0.04 earnings per share. MGM Resorts International’s revenue was up 4.0% compared to the same quarter last year.
MGM has been the subject of a number of recent research reports. Analysts at Buckingham Research initiated coverage on shares of MGM Resorts International in a research note on Friday, June 27th. They set a “buy” rating and a $32.00 price target on the stock. On a related note, analysts at Susquehanna cut their price target on shares of MGM Resorts International from $34.00 to $32.00 in a research note on Monday, June 23rd. They now have a “positive” rating on the stock. Finally, analysts at Morgan Stanley reiterated an “overweight” rating on shares of MGM Resorts International in a research note on Thursday, June 12th. They now have a $31.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $28.82.
Shares of MGM Resorts International (NYSE:MGM) traded up 0.87% on Tuesday, hitting $26.68. The stock had a trading volume of 3,687,308 shares. MGM Resorts International has a one year low of $16.75 and a one year high of $28.75. The stock has a 50-day moving average of $26.01 and a 200-day moving average of $25.54. The company’s market cap is $13.090 billion.
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.
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