MGM Resorts International (NYSE:MGM) Posts Earnings Results

MGM Resorts International (NYSE:MGM - Get Free Report) announced its earnings results on Wednesday. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate 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 Stock Down 1.4 %

Shares of NYSE:MGM traded down $0.56 during trading on Friday, reaching $39.82. The stock had a trading volume of 6,451,467 shares, compared to its average volume of 4,507,628. The firm's 50-day simple moving average is $34.38 and its 200 day simple moving average is $36.73. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. MGM Resorts International has a one year low of $31.61 and a one year high of $48.24. The company has a market capitalization of $11.85 billion, a P/E ratio of 14.22, a PEG ratio of 2.94 and a beta of 2.20.

Analysts Set New Price Targets

Several brokerages have issued reports on MGM. Wells Fargo & Company boosted their target price on MGM Resorts International from $44.00 to $46.00 and gave the company an "overweight" rating in a research report on Thursday. Jefferies Financial Group dropped their price objective on MGM Resorts International from $52.00 to $50.00 and set a "buy" rating for the company in a report on Friday, January 3rd. Susquehanna Bancshares upped their price objective on MGM Resorts International from $53.00 to $56.00 in a research report on Wednesday. Argus upgraded MGM Resorts International from a "hold" rating to a "buy" rating and set a $50.00 target price for the company in a research report on Friday. Finally, Stifel Nicolaus upped their price target on shares of MGM Resorts International from $47.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $51.47.

Insider Buying and Selling

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International 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 transaction, the director now directly owns 5,687,478 shares of the company's stock, valued at approximately $207,991,070.46. The trade was a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.13% of the stock is currently owned by company 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.