MGM Resorts International (MGM) to Release Quarterly Earnings on Wednesday

MGM Resorts International (NYSE:MGM) will be posting its quarterly earnings results after the market closes on Wednesday, May 1st. Analysts expect MGM Resorts International to post earnings of $0.62 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

MGM Resorts International (NYSE:MGM) last released its earnings results on Tuesday, February 13th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.39. The firm had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.14 billion. MGM Resorts International had a return on equity of 20.51% and a net margin of 7.07%. The company’s revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 EPS. On average, analysts expect MGM Resorts International to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

MGM Resorts International Stock Performance

MGM opened at $42.85 on Wednesday. MGM Resorts International has a 12-month low of $34.12 and a 12-month high of $51.35. The firm has a market capitalization of $13.58 billion, a P/E ratio of 13.52, a price-to-earnings-growth ratio of 1.75 and a beta of 2.19. The stock’s 50 day moving average price is $43.81 and its two-hundred day moving average price is $42.05. The company has a quick ratio of 1.53, a current ratio of 1.57 and a debt-to-equity ratio of 1.46.

Insider Buying and Selling at MGM Resorts International

In other news, Director Keith A. Meister sold 325,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the completion of the transaction, the director now directly owns 6,098,778 shares of the company’s stock, valued at $261,637,576.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MGM shares. Morgan Stanley lifted their price objective on MGM Resorts International from $45.00 to $46.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Macquarie reaffirmed an “outperform” rating and issued a $58.00 price target on shares of MGM Resorts International in a research note on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft boosted their price target on MGM Resorts International from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Barclays decreased their price target on MGM Resorts International from $57.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 14th. Finally, JPMorgan Chase & Co. boosted their price target on MGM Resorts International from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.34.

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.