Seaport Res Ptn Issues Pessimistic Outlook for MGM Earnings

MGM Resorts International (NYSE:MGM) – Analysts at Seaport Res Ptn decreased their Q4 2024 earnings per share (EPS) estimates for MGM Resorts International in a research report issued on Sunday, January 26th. Seaport Res Ptn analyst V. Umansky now anticipates that the company will post earnings per share of $0.49 for the quarter, down from their prior estimate of $0.80. 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 FY2025 earnings at $2.33 EPS.

MGM has been the subject of a number of other research reports. Jefferies Financial Group cut their price objective on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Mizuho cut their price target on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. JMP Securities restated a “market outperform” rating and set a $50.00 price objective on shares of MGM Resorts International in a research note on Thursday, January 16th. Morgan Stanley upped their target price on MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Finally, Truist Financial decreased their price target on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, MGM Resorts International has a consensus rating of “Moderate Buy” and a consensus price target of $51.93.

MGM Resorts International Trading Up 1.6 %

Shares of MGM Resorts International stock opened at $34.02 on Wednesday. MGM Resorts International has a 52-week low of $31.61 and a 52-week high of $48.24. The stock has a market cap of $10.13 billion, a PE ratio of 12.15, a PEG ratio of 3.06 and a beta of 2.21. The firm has a 50-day moving average of $34.93 and a 200-day moving average of $37.50. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.04). The firm had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 EPS.

Insider Activity

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the sale, the director now owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. The trade was a 0.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.13% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Empower Advisory Group LLC grew its stake in MGM Resorts International by 4.2% during the third quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock worth $61,430,000 after purchasing an additional 62,997 shares during the period. Goldentree Asset Management LP grew its position in shares of MGM Resorts International by 86.4% during the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock worth $117,270,000 after buying an additional 1,390,599 shares during the period. Miracle Mile Advisors LLC bought a new stake in shares of MGM Resorts International in the 4th quarter valued at $2,010,000. Assenagon Asset Management S.A. lifted its position in shares of MGM Resorts International by 80.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 358,186 shares of the company’s stock valued at $12,411,000 after acquiring an additional 159,522 shares during the period. Finally, Zacks Investment Management boosted its stake in MGM Resorts International by 7.8% during the third quarter. Zacks Investment Management now owns 400,393 shares of the company’s stock worth $15,651,000 after acquiring an additional 29,107 shares in the last quarter. Institutional investors 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.