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

MGM Resorts International (NYSE:MGM) will release its earnings data 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 listen to the company’s earnings conference call can do so using this link.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Tuesday, February 13th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.39. The company had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.14 billion. MGM Resorts International had a net margin of 7.07% and a return on equity of 20.51%. MGM Resorts International’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $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 Stock Performance

NYSE:MGM opened at $42.85 on Wednesday. The company has a fifty day moving average of $43.81 and a 200-day moving average of $42.05. The firm has a market capitalization of $13.58 billion, a P/E ratio of 13.52, a P/E/G ratio of 1.75 and a beta of 2.19. The company has a quick ratio of 1.53, a current ratio of 1.57 and a debt-to-equity ratio of 1.46. MGM Resorts International has a twelve month low of $34.12 and a twelve month high of $51.35.

Wall Street Analysts Forecast Growth

MGM has been the subject of several research analyst reports. Barclays lowered their price objective on shares of MGM Resorts International from $57.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. Macquarie reissued an “outperform” rating and issued a $58.00 price target on shares of MGM Resorts International in a research report on Wednesday, February 14th. Bank Of America (Bofa) lifted their price target on shares of MGM Resorts International from $45.00 to $50.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. JMP Securities reissued a “market outperform” rating and issued a $57.00 price target on shares of MGM Resorts International in a research report on Wednesday, February 14th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of MGM Resorts International from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $55.34.

Insider Activity

In related news, Director Keith A. Meister sold 325,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total value of $13,942,500.00. Following the transaction, the director now directly owns 6,098,778 shares in the company, valued at $261,637,576.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.83% 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.