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

MGM Resorts International (NYSE:MGM) is set to post its quarterly earnings results after the market closes on Wednesday, May 1st. Analysts expect MGM Resorts International to post earnings of $0.62 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Tuesday, February 13th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.39. MGM Resorts International had a return on equity of 20.51% and a net margin of 7.07%. The business had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.14 billion. MGM Resorts International’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period last year, the company earned $0.69 EPS. On average, analysts expect MGM Resorts International to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

MGM Resorts International Trading Up 1.3 %

Shares of MGM stock opened at $41.61 on Tuesday. MGM Resorts International has a 1-year low of $34.12 and a 1-year high of $51.35. The company has a current ratio of 1.57, a quick ratio of 1.53 and a debt-to-equity ratio of 1.46. The stock has a market cap of $13.19 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 1.69 and a beta of 2.19. The stock has a 50-day moving average of $43.71 and a 200-day moving average of $42.18.

Analysts Set New Price Targets

Several research analysts have issued reports on MGM shares. Barclays lowered their price target on shares of MGM Resorts International from $57.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. TheStreet upgraded shares of MGM Resorts International from a “c+” rating to a “b-” rating in a report on Tuesday, February 13th. StockNews.com downgraded MGM Resorts International from a “buy” rating to a “hold” rating in a report on Monday, March 4th. Macquarie reissued an “outperform” rating and issued a $58.00 price objective on shares of MGM Resorts International in a research report on Wednesday, February 14th. Finally, Morgan Stanley upped their target price on MGM Resorts International from $45.00 to $46.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $55.34.

Insider Activity at MGM Resorts International

In other news, Director Keith A. Meister sold 325,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the completion of the sale, the director now directly owns 6,098,778 shares of the company’s stock, valued at $261,637,576.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.83% of the stock is currently owned by insiders.

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.