MGM Resorts International (MGM) to Release Quarterly Earnings on Wednesday

MGM Resorts International (NYSE:MGM - Get Free Report) will be posting its quarterly earnings results after the market closes on Wednesday, October 30th. Analysts expect MGM Resorts International to post earnings of $0.61 per share for the quarter. Persons interested in listening to the company's earnings conference call can do so using this link.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.20. The firm had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a net margin of 5.15% and a return on equity of 26.36%. The business's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.59 earnings per share. On average, analysts expect MGM Resorts International to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

MGM Resorts International Stock Down 0.7 %

Shares of MGM Resorts International stock opened at $40.22 on Wednesday. MGM Resorts International has a twelve month low of $33.44 and a twelve month high of $48.24. The company has a quick ratio of 1.42, a current ratio of 1.47 and a debt-to-equity ratio of 1.65. The company's 50 day moving average is $38.30 and its 200 day moving average is $40.38. The company has a market cap of $12.62 billion, a price-to-earnings ratio of 15.58, a price-to-earnings-growth ratio of 0.92 and a beta of 2.23.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Paul J. Salem purchased 147,500 shares of the company's stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $33.80 per share, for a total transaction of $4,985,500.00. Following the completion of the purchase, the director now owns 1,702,500 shares of the company's stock, valued at approximately $57,544,500. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Jonathan S. Halkyard acquired 10,000 shares of MGM Resorts International stock in a transaction dated Monday, August 5th. The stock was purchased at an average cost of $34.00 per share, for a total transaction of $340,000.00. Following the completion of the purchase, the chief financial officer now directly owns 38,299 shares in the company, valued at $1,302,166. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul J. Salem purchased 147,500 shares of the business's stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average price of $33.80 per share, for a total transaction of $4,985,500.00. Following the acquisition, the director now owns 1,702,500 shares in the company, valued at $57,544,500. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 216,400 shares of company stock worth $7,312,197 over the last three months. 2.13% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on MGM shares. Morgan Stanley raised their target price on MGM Resorts International from $43.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft reduced their price target on MGM Resorts International from $57.00 to $52.00 and set a "buy" rating for the company in a research report on Tuesday, October 1st. Barclays lowered their price objective on MGM Resorts International from $56.00 to $54.00 and set an "overweight" rating on the stock in a research report on Thursday, October 17th. UBS Group upgraded shares of MGM Resorts International to a "hold" rating in a research note on Friday, August 23rd. Finally, Susquehanna raised their price objective on shares of MGM Resorts International from $54.00 to $55.00 and gave the company a "positive" rating in a research report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $53.64.

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.