MGM Resorts International (MGM) Projected to Post Quarterly Earnings on Wednesday

MGM Resorts International (NYSE:MGM) is expected to be issuing its quarterly earnings data after the market closes on Wednesday, February 12th. Analysts expect the company to announce earnings of $0.37 per share and revenue of $4.27 billion for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

MGM Resorts International Trading Down 0.7 %

Shares of MGM stock opened at $34.33 on Tuesday. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. The business has a 50-day moving average of $34.38 and a 200 day moving average of $36.88. The stock has a market capitalization of $10.22 billion, a PE ratio of 12.26, a P/E/G ratio of 2.94 and a beta of 2.20. MGM Resorts International has a 1-year low of $31.61 and a 1-year high of $48.24.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MGM shares. BTIG Research cut shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Wells Fargo & Company cut their target price on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Truist Financial reduced their price target on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Mizuho dropped their price objective on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Finally, Jefferies Financial Group reduced their target price on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $51.93.

Insider Buying and Selling at MGM Resorts International

In related news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the transaction, the director now owns 5,687,478 shares in the company, valued at $207,991,070.46. This represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company 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.