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

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

MGM Resorts International Stock Up 0.2 %

NYSE:MGM traded up $0.07 during trading hours 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 twelve month low of $31.61 and a twelve month high of $48.24. The firm has a market cap of $10.22 billion, a P/E ratio of 12.26, a P/E/G ratio of 2.94 and a beta of 2.20. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. The stock’s fifty day moving average price is $34.31 and its two-hundred day moving average price is $36.83.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Susquehanna Bancshares lifted their target price on MGM Resorts International from $53.00 to $56.00 in a report on Wednesday. JMP Securities reaffirmed a “market outperform” rating and issued a $50.00 price objective on shares of MGM Resorts International in a research note on Thursday, January 16th. Truist Financial cut their target price on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Jefferies Financial Group decreased their price target on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Finally, 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 report on Friday, December 13th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $52.20.

Insider Buying and Selling at MGM Resorts International

In related news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction 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 sale, the director now owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. This trade represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.13% 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.