MGM Resorts International (NYSE:MGM – Free Report) – Seaport Res Ptn cut their FY2024 earnings per share (EPS) estimates for shares of MGM Resorts International in a report issued on Sunday, January 26th. Seaport Res Ptn analyst V. Umansky now expects that the company will post earnings per share of $2.37 for the year, down from their previous estimate of $2.67. The consensus estimate for MGM Resorts International’s current full-year earnings is $2.41 per share. Seaport Res Ptn also issued estimates for MGM Resorts International’s Q1 2025 earnings at $0.47 EPS, Q2 2025 earnings at $0.57 EPS, Q3 2025 earnings at $0.59 EPS, Q4 2025 earnings at $0.70 EPS, FY2026 earnings at $2.71 EPS and FY2027 earnings at $3.15 EPS.
Other analysts also recently issued reports about the stock. JMP Securities restated a “market outperform” rating and set a $50.00 price objective on shares of MGM Resorts International in a research report on Thursday, January 16th. Wells Fargo & Company decreased their price objective on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Barclays cut their price target on shares of MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Friday, December 13th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Finally, Truist Financial dropped their price objective on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.93.
MGM Resorts International Stock Down 0.0 %
MGM opened at $33.55 on Tuesday. The firm’s 50 day simple moving average is $35.00 and its two-hundred day simple moving average is $37.53. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. MGM Resorts International has a 1-year low of $31.61 and a 1-year high of $48.24. The company has a market capitalization of $9.99 billion, a PE ratio of 11.98, a PEG ratio of 3.06 and a beta of 2.21.
MGM Resorts International (NYSE:MGM – Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). The firm had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.64 EPS.
Insiders Place Their Bets
In other news, Director Keith A. Meister sold 51,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the completion of the transaction, the director now directly owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. This represents a 0.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 2.13% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of the stock. MidAtlantic Capital Management Inc. purchased a new stake in MGM Resorts International during the 3rd quarter valued at about $28,000. Global Trust Asset Management LLC acquired a new stake in shares of MGM Resorts International in the fourth quarter valued at approximately $28,000. Eastern Bank purchased a new position in MGM Resorts International during the third quarter worth approximately $35,000. Brooklyn Investment Group acquired a new position in MGM Resorts International during the third quarter worth $44,000. Finally, Planning Capital Management Corp purchased a new position in shares of MGM Resorts International during the 3rd quarter worth $45,000. Institutional investors and hedge funds own 68.11% of the company’s stock.
MGM Resorts International Company Profile
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.
Recommended Stories
- Five stocks we like better than MGM Resorts International
- Most Volatile Stocks, What Investors Need to Know
- Survey Reveals: Top 150 Best Coffee Shops for Remote Workers and Business Deals [2025]
- 3 Stocks to Protect Your Portfolio from the Coronavirus Contagion
- What Does the Future Hold for Eli Lilly?
- Procter & Gamble (NYSE:PG) Pulls Back After Shaky Guidance
- Oracle Stock Drops Nearly 14% – Is Now the Time to Buy?
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.