Analysts expect MGM Resorts International (NYSE:MGM) to announce $2.51 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for MGM Resorts International’s earnings. The highest sales estimate is $2.52 billion and the lowest is $2.49 billion. MGM Resorts International posted sales of $2.46 billion during the same quarter last year, which suggests a positive year over year growth rate of 2%. The company is scheduled to issue its next earnings results on Thursday, February 15th.

According to Zacks, analysts expect that MGM Resorts International will report full-year sales of $2.51 billion for the current year, with estimates ranging from $10.65 billion to $10.69 billion. For the next year, analysts expect that the business will post sales of $11.95 billion per share, with estimates ranging from $11.65 billion to $12.27 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for MGM Resorts International.

MGM has been the topic of several recent analyst reports. Morgan Stanley set a $34.00 target price on MGM Resorts International and gave the stock a “buy” rating in a research note on Friday, October 13th. Nomura cut their target price on MGM Resorts International from $38.00 to $37.00 and set a “buy” rating on the stock in a research note on Wednesday, November 1st. Roth Capital initiated coverage on MGM Resorts International in a research note on Wednesday, October 25th. They issued a “buy” rating and a $38.00 target price on the stock. Zacks Investment Research cut MGM Resorts International from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. Finally, UBS Group cut MGM Resorts International from a “positive” rating to a “neutral” rating in a research note on Tuesday, October 3rd. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $36.79.

In other MGM Resorts International news, insider Robert Baldwin sold 61,600 shares of MGM Resorts International stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $32.56, for a total transaction of $2,005,696.00. Following the sale, the insider now directly owns 70,049 shares of the company’s stock, valued at approximately $2,280,795.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William A. Bible sold 6,128 shares of MGM Resorts International stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $33.23, for a total value of $203,633.44. Following the sale, the director now directly owns 27,081 shares in the company, valued at $899,901.63. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 96,877 shares of company stock worth $3,187,002. Insiders own 12.20% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in MGM. Comerica Bank lifted its holdings in shares of MGM Resorts International by 3.8% during the second quarter. Comerica Bank now owns 24,687 shares of the company’s stock valued at $839,000 after purchasing an additional 910 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of MGM Resorts International by 5.0% during the second quarter. Prudential Financial Inc. now owns 35,861 shares of the company’s stock valued at $1,122,000 after purchasing an additional 1,700 shares during the last quarter. Pacad Investment Ltd. purchased a new position in shares of MGM Resorts International during the second quarter valued at approximately $169,000. Private Advisor Group LLC lifted its holdings in shares of MGM Resorts International by 8.7% during the second quarter. Private Advisor Group LLC now owns 17,092 shares of the company’s stock valued at $533,000 after purchasing an additional 1,375 shares during the last quarter. Finally, Aberdeen Asset Management PLC UK lifted its holdings in shares of MGM Resorts International by 94.1% during the second quarter. Aberdeen Asset Management PLC UK now owns 51,254 shares of the company’s stock valued at $1,604,000 after purchasing an additional 24,848 shares during the last quarter. Hedge funds and other institutional investors own 82.96% of the company’s stock.

Shares of MGM Resorts International (NYSE MGM) opened at $35.03 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $19,877.11, a PE ratio of 34.34, a P/E/G ratio of 6.41 and a beta of 1.45. MGM Resorts International has a 12 month low of $25.15 and a 12 month high of $35.18.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Monday, December 11th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, December 8th. This represents a $0.44 annualized dividend and a yield of 1.26%. MGM Resorts International’s payout ratio is 43.14%.

ILLEGAL ACTIVITY NOTICE: “$2.51 Billion in Sales Expected for MGM Resorts International (MGM) This Quarter” was originally reported by American Banking News and is the property of of American Banking News. If you are viewing this article on another website, it was copied illegally and republished in violation of U.S. & international trademark & copyright laws. The legal version of this article can be accessed at https://www.americanbankingnews.com/2018/01/13/2-51-billion-in-sales-expected-for-mgm-resorts-international-mgm-this-quarter.html.

About MGM Resorts International

MGM Resorts International is a holding company. The Company, through its subsidiaries, owns and operates casino resorts. The Company operates in two segments: domestic resorts and MGM China. Its domestic resorts segment consists of non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities.

Get a free copy of the Zacks research report on MGM Resorts International (MGM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for MGM Resorts International (NYSE:MGM)

Receive News & Ratings for MGM Resorts International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGM Resorts International and related companies with MarketBeat.com's FREE daily email newsletter.