MGM Resorts International Expected to Post Q2 2019 Earnings of $0.50 Per Share (MGM)

MGM Resorts International (NYSE:MGM) – Stock analysts at Jefferies Financial Group reduced their Q2 2019 EPS estimates for MGM Resorts International in a research report issued on Wednesday, October 31st. Jefferies Financial Group analyst D. Katz now anticipates that the company will post earnings of $0.50 per share for the quarter, down from their prior estimate of $0.52. Jefferies Financial Group currently has a “Buy” rating on the stock. Jefferies Financial Group also issued estimates for MGM Resorts International’s Q3 2019 earnings at $0.47 EPS and FY2020 earnings at $2.60 EPS.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Tuesday, October 30th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.06. The company had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $2.99 billion. MGM Resorts International had a return on equity of 4.45% and a net margin of 16.75%. MGM Resorts International’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.34 earnings per share.



MGM has been the subject of a number of other research reports. Telsey Advisory Group reduced their price objective on MGM Resorts International from $34.00 to $31.00 and set a “market perform” rating for the company in a research report on Friday, August 3rd. Bank of America reiterated a “buy” rating and set a $30.00 price objective on shares of MGM Resorts International in a research report on Tuesday, October 16th. Morgan Stanley reduced their price objective on MGM Resorts International from $39.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, July 20th. Nomura reduced their price objective on MGM Resorts International from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Monday, July 9th. Finally, Zacks Investment Research cut MGM Resorts International from a “hold” rating to a “sell” rating in a research report on Wednesday, July 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. MGM Resorts International currently has an average rating of “Buy” and an average target price of $36.36.

MGM Resorts International stock opened at $26.68 on Thursday. The firm has a market cap of $13.55 billion, a P/E ratio of 26.16, a PEG ratio of 4.97 and a beta of 1.39. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.68 and a quick ratio of 0.64. MGM Resorts International has a one year low of $23.81 and a one year high of $38.41.

In other MGM Resorts International news, Director Alexis Herman sold 3,500 shares of the business’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $28.85, for a total transaction of $100,975.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Daniel D’arrigo sold 29,377 shares of the business’s stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $29.23, for a total value of $858,689.71. Following the sale, the chief financial officer now directly owns 260,676 shares of the company’s stock, valued at approximately $7,619,559.48. The disclosure for this sale can be found here. Insiders have sold 34,627 shares of company stock valued at $1,009,155 in the last three months. 12.20% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in MGM. State Board of Administration of Florida Retirement System boosted its stake in shares of MGM Resorts International by 0.5% in the third quarter. State Board of Administration of Florida Retirement System now owns 689,828 shares of the company’s stock worth $19,253,000 after acquiring an additional 3,416 shares during the period. Arizona State Retirement System boosted its stake in shares of MGM Resorts International by 2.8% in the third quarter. Arizona State Retirement System now owns 283,339 shares of the company’s stock worth $7,908,000 after acquiring an additional 7,652 shares during the period. Garner Asset Management Corp bought a new position in shares of MGM Resorts International in the third quarter worth about $151,000. Public Employees Retirement Association of Colorado boosted its stake in shares of MGM Resorts International by 89.5% in the third quarter. Public Employees Retirement Association of Colorado now owns 2,286,094 shares of the company’s stock worth $63,805,000 after acquiring an additional 1,079,732 shares during the period. Finally, Barings LLC bought a new position in shares of MGM Resorts International in the third quarter worth about $1,454,000. 80.06% of the stock is owned by institutional investors and hedge funds.

About MGM Resorts International

MGM Resorts International, through its subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts in the United States and China. The company operates through two segments, Domestic Resorts and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.

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

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