MGM Resorts International (MGM) Scheduled to Post Quarterly Earnings on Wednesday

MGM Resorts International (NYSE:MGMGet Rating) will be posting its quarterly earnings results after the market closes on Wednesday, August 3rd. Analysts expect MGM Resorts International to post earnings of $0.26 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

MGM Resorts International (NYSE:MGMGet Rating) last posted its earnings results on Monday, May 2nd. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.10. The firm had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.75 billion. MGM Resorts International had a net margin of 14.40% and a return on equity of 0.81%. During the same period in the previous year, the company earned ($0.68) earnings per share. On average, analysts expect MGM Resorts International to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

MGM Resorts International Price Performance

NYSE MGM opened at $32.84 on Tuesday. The company has a quick ratio of 1.23, a current ratio of 1.25 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $13.99 billion, a PE ratio of 10.66 and a beta of 2.14. The company has a 50 day moving average price of $30.95 and a two-hundred day moving average price of $37.66. MGM Resorts International has a 12-month low of $26.41 and a 12-month high of $51.17.

Insider Buying and Selling at MGM Resorts International

In other news, Director Paul J. Salem bought 34,500 shares of MGM Resorts International stock in a transaction dated Monday, June 13th. The shares were bought at an average price of $28.92 per share, for a total transaction of $997,740.00. Following the purchase, the director now owns 1,555,000 shares of the company’s stock, valued at $44,970,600. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Paul J. Salem bought 3,500 shares of MGM Resorts International stock in a transaction dated Wednesday, May 25th. The shares were bought at an average price of $31.25 per share, for a total transaction of $109,375.00. Following the purchase, the director now owns 1,520,500 shares of the company’s stock, valued at $47,515,625. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul J. Salem bought 34,500 shares of MGM Resorts International stock in a transaction dated Monday, June 13th. The stock was purchased at an average price of $28.92 per share, for a total transaction of $997,740.00. Following the purchase, the director now directly owns 1,555,000 shares in the company, valued at approximately $44,970,600. The disclosure for this purchase can be found here. Insiders own 2.13% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MGM. RB Capital Management LLC lifted its position in MGM Resorts International by 29.1% during the 1st quarter. RB Capital Management LLC now owns 7,796 shares of the company’s stock worth $327,000 after buying an additional 1,756 shares in the last quarter. American Century Companies Inc. lifted its position in MGM Resorts International by 10.7% during the 1st quarter. American Century Companies Inc. now owns 24,436 shares of the company’s stock worth $1,024,000 after buying an additional 2,368 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in MGM Resorts International by 3.2% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 50,398 shares of the company’s stock worth $2,114,000 after buying an additional 1,542 shares in the last quarter. Synovus Financial Corp lifted its position in MGM Resorts International by 107.5% during the 1st quarter. Synovus Financial Corp now owns 12,597 shares of the company’s stock worth $529,000 after buying an additional 6,526 shares in the last quarter. Finally, Cibc World Market Inc. lifted its position in MGM Resorts International by 81.6% during the 1st quarter. Cibc World Market Inc. now owns 10,980 shares of the company’s stock worth $461,000 after buying an additional 4,934 shares in the last quarter. Institutional investors and hedge funds own 85.76% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MGM shares. Truist Financial reduced their price objective on shares of MGM Resorts International from $48.00 to $35.00 and set a “hold” rating for the company in a research note on Wednesday, July 20th. Morgan Stanley reduced their price objective on shares of MGM Resorts International from $56.00 to $51.00 and set an “equal weight” rating for the company in a research note on Monday, April 25th. Wells Fargo & Company reduced their price objective on shares of MGM Resorts International from $57.00 to $49.00 and set an “overweight” rating for the company in a research note on Thursday, July 14th. Bank of America reduced their price objective on shares of MGM Resorts International from $55.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, April 18th. Finally, JPMorgan Chase & Co. initiated coverage on shares of MGM Resorts International in a research note on Tuesday, May 3rd. They issued an “overweight” rating and a $53.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $52.37.

MGM Resorts International Company Profile

(Get Rating)

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and Macau. 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.

Recommended Stories

Earnings History 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.