MGM Resorts International (MGM) Set to Announce Quarterly Earnings on Monday

MGM Resorts International (NYSE:MGMGet Rating) is scheduled to issue its quarterly earnings data after the market closes on Monday, May 2nd. Analysts expect the company to announce earnings of ($0.11) per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

MGM Resorts International (NYSE:MGMGet Rating) last announced its quarterly earnings results on Wednesday, February 9th. The company reported $0.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.10. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $2.77 billion. MGM Resorts International had a negative return on equity of 2.23% and a net margin of 12.96%. During the same quarter in the previous year, the firm earned ($0.90) EPS. On average, analysts expect MGM Resorts International to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

MGM Resorts International stock opened at $41.08 on Monday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.84 and a current ratio of 1.86. The firm has a market cap of $17.88 billion, a P/E ratio of 16.77 and a beta of 2.32. The business’s fifty day moving average is $41.85 and its two-hundred day moving average is $43.61. MGM Resorts International has a 52 week low of $35.72 and a 52 week high of $51.17.

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 15th. Stockholders of record on Thursday, March 10th were given a dividend of $0.0025 per share. The ex-dividend date of this dividend was Wednesday, March 9th. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.02%. MGM Resorts International’s payout ratio is currently 0.41%.

In other MGM Resorts International news, CEO William Hornbuckle sold 10,000 shares of the firm’s stock in a transaction on Wednesday, April 20th. The stock was sold at an average price of $43.00, for a total value of $430,000.00. Following the sale, the chief executive officer now owns 132,603 shares of the company’s stock, valued at approximately $5,701,929. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Keith A. Meister sold 4,500,000 shares of the firm’s stock in a transaction on Monday, February 14th. The shares were sold at an average price of $45.00, for a total value of $202,500,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,513,350 shares of company stock worth $203,076,165. Company insiders own 2.13% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC bought a new position in MGM Resorts International during the 4th quarter worth $238,000. Schonfeld Strategic Advisors LLC bought a new position in shares of MGM Resorts International in the 4th quarter worth about $777,000. Synovus Financial Corp bought a new position in shares of MGM Resorts International in the 4th quarter worth about $273,000. Stifel Financial Corp raised its position in shares of MGM Resorts International by 38.3% in the 4th quarter. Stifel Financial Corp now owns 89,365 shares of the company’s stock worth $4,011,000 after acquiring an additional 24,735 shares in the last quarter. Finally, Sei Investments Co. raised its position in shares of MGM Resorts International by 22.9% in the 4th quarter. Sei Investments Co. now owns 259,651 shares of the company’s stock worth $11,646,000 after acquiring an additional 48,339 shares in the last quarter. 64.50% of the stock is currently owned by institutional investors.

A number of equities research analysts have recently weighed in on the company. Truist Financial dropped their target price on MGM Resorts International from $51.00 to $48.00 and set a “hold” rating for the company in a research report on Tuesday, April 19th. StockNews.com began coverage on MGM Resorts International in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Stifel Nicolaus boosted their target price on MGM Resorts International from $53.00 to $55.00 and gave the company a “hold” rating in a research note on Thursday, February 10th. TheStreet cut MGM Resorts International from a “b-” rating to a “c+” rating in a research note on Tuesday, March 8th. Finally, Credit Suisse Group boosted their target price on MGM Resorts International from $74.00 to $76.00 and gave the company an “outperform” rating in a research note on Thursday, February 10th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, MGM Resorts International has an average rating of “Buy” and a consensus price target of $54.33.

MGM Resorts International Company Profile (Get Rating)

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and Macau. 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.

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Earnings History for MGM Resorts International (NYSE:MGM)

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