MGM Resorts International (NYSE:MGM) Posts Earnings Results

MGM Resorts International (NYSE:MGM) issued its earnings results on Wednesday. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04), Briefing.com reports. MGM Resorts International had a net margin of 5.15% and a return on equity of 26.36%. The firm had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the prior year, the firm posted $0.64 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis.

MGM Resorts International Trading Down 11.8 %

MGM traded down $4.88 during trading on Thursday, reaching $36.53. 9,775,396 shares of the company’s stock were exchanged, compared to its average volume of 4,088,080. The company’s fifty day moving average price is $38.50 and its 200-day moving average price is $40.24. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.42 and a current ratio of 1.47. The firm has a market capitalization of $11.10 billion, a PE ratio of 14.07, a P/E/G ratio of 0.97 and a beta of 2.23. MGM Resorts International has a fifty-two week low of $33.44 and a fifty-two week high of $48.24.

Analysts Set New Price Targets

A number of research firms have commented on MGM. Macquarie reduced their price target on shares of MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. JMP Securities reduced their target price on MGM Resorts International from $57.00 to $56.00 and set a “market outperform” rating on the stock in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft dropped their price target on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Stifel Nicolaus boosted their price objective on MGM Resorts International from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Morgan Stanley raised their target price on MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.31.

Insider Transactions at MGM Resorts International

In other news, Director Keith A. Meister sold 121,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the sale, the director now owns 5,738,478 shares of the company’s stock, valued at $210,716,912.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the transaction, the director now owns 5,738,478 shares of the company’s stock, valued at $210,716,912.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was purchased at an average cost of $34.00 per share, with a total value of $340,000.00. Following the transaction, the chief financial officer now owns 38,299 shares in the company, valued at approximately $1,302,166. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 216,400 shares of company stock worth $7,312,197 in the last three months. Insiders own 2.13% of the company’s stock.

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.