MGM Resorts International (NYSE:MGM) Releases Earnings Results, Beats Estimates By $0.08 EPS

MGM Resorts International (NYSE:MGM) issued its quarterly earnings data on Wednesday. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08, Zacks reports. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%.

MGM Resorts International Trading Up 0.2 %

Shares of MGM Resorts International stock traded up $0.07 on Wednesday, hitting $34.34. 6,780,664 shares of the company’s stock traded hands, compared to its average volume of 4,664,021. MGM Resorts International has a one year low of $31.61 and a one year high of $48.24. 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 stock has a market capitalization of $10.22 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 2.94 and a beta of 2.20. The firm’s 50-day moving average price is $34.31 and its two-hundred day moving average price is $36.83.

Insider Transactions at MGM Resorts International

In other news, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the completion of the transaction, the director now owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. The trade was a 0.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.13% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wells Fargo & Company cut their target price on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Barclays dropped their price target on MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, December 13th. Truist Financial lowered 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. Jefferies Financial Group reduced their price target 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. Finally, Morgan Stanley upped their price objective on shares of 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. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $52.20.

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.