MGM Resorts International (NYSE:MGM) Expected to Announce Earnings of $0.24 Per Share

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Equities analysts expect MGM Resorts International (NYSE:MGM) to post $0.24 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for MGM Resorts International’s earnings, with the lowest EPS estimate coming in at $0.16 and the highest estimate coming in at $0.32. MGM Resorts International posted earnings of $0.14 per share during the same quarter last year, which would suggest a positive year over year growth rate of 71.4%. The company is scheduled to report its next earnings report on Wednesday, February 12th.

According to Zacks, analysts expect that MGM Resorts International will report full-year earnings of $0.30 per share for the current financial year, with EPS estimates ranging from $0.27 to $0.32. For the next financial year, analysts anticipate that the business will post earnings of $1.40 per share, with EPS estimates ranging from $0.78 to $2.15. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow MGM Resorts International.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, October 30th. The company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.37). The company had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.33 billion. MGM Resorts International had a net margin of 0.11% and a return on equity of 4.10%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 earnings per share.

A number of research analysts have weighed in on MGM shares. TheStreet cut shares of MGM Resorts International from a “b-” rating to a “c” rating in a research note on Wednesday, October 30th. UBS Group boosted their target price on shares of MGM Resorts International from $31.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Roth Capital reiterated a “buy” rating on shares of MGM Resorts International in a research note on Thursday, October 31st. Deutsche Bank set a $34.00 target price on shares of MGM Resorts International and gave the company a “hold” rating in a research note on Tuesday, September 17th. Finally, Zacks Investment Research upgraded shares of MGM Resorts International from a “strong sell” rating to a “hold” rating and set a $28.00 target price on the stock in a research note on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $31.55.

In other MGM Resorts International news, Director Keith A. Meister purchased 79,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were bought at an average cost of $29.43 per share, for a total transaction of $2,324,970.00. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Keith A. Meister purchased 295,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average price of $32.04 per share, for a total transaction of $9,451,800.00. Corporate insiders own 3.47% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of MGM. LPL Financial LLC lifted its stake in MGM Resorts International by 8.9% in the 2nd quarter. LPL Financial LLC now owns 49,776 shares of the company’s stock worth $1,422,000 after purchasing an additional 4,082 shares in the last quarter. MML Investors Services LLC lifted its stake in MGM Resorts International by 6.6% in the 2nd quarter. MML Investors Services LLC now owns 13,725 shares of the company’s stock worth $392,000 after purchasing an additional 845 shares in the last quarter. Parametric Portfolio Associates LLC lifted its stake in MGM Resorts International by 7.0% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 874,087 shares of the company’s stock worth $24,973,000 after purchasing an additional 57,097 shares in the last quarter. Profund Advisors LLC lifted its stake in MGM Resorts International by 24.6% in the 2nd quarter. Profund Advisors LLC now owns 16,682 shares of the company’s stock worth $477,000 after purchasing an additional 3,289 shares in the last quarter. Finally, HighTower Advisors LLC lifted its stake in MGM Resorts International by 9.7% in the 2nd quarter. HighTower Advisors LLC now owns 59,474 shares of the company’s stock worth $1,702,000 after purchasing an additional 5,255 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

MGM traded down $0.08 during midday trading on Tuesday, reaching $33.29. The company had a trading volume of 4,460,732 shares, compared to its average volume of 3,620,886. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.84 and a current ratio of 0.87. The stock has a market cap of $17.40 billion, a PE ratio of 33.63, a P/E/G ratio of 3.49 and a beta of 1.51. MGM Resorts International has a 12-month low of $23.68 and a 12-month high of $33.87. The business has a 50-day moving average price of $32.84 and a two-hundred day moving average price of $29.86.

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Tuesday, December 10th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend was Monday, December 9th. MGM Resorts International’s payout ratio is currently 52.53%.

About MGM Resorts International

MGM Resorts International, through its subsidiaries, owns and operates integrated 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.

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

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