Seaport Res Ptn Issues Pessimistic Estimate for MGM Earnings

MGM Resorts International (NYSE:MGM) – Investment analysts at Seaport Res Ptn reduced their FY2026 earnings estimates for MGM Resorts International in a research report issued to clients and investors on Tuesday, April 29th. Seaport Res Ptn analyst V. Umansky now expects that the company will earn $2.52 per share for the year, down from their prior estimate of $2.83. The consensus estimate for MGM Resorts International’s current full-year earnings is $2.21 per share. Seaport Res Ptn also issued estimates for MGM Resorts International’s FY2027 earnings at $3.03 EPS.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, April 30th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.19. The company had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.29 billion. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. MGM Resorts International’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.74 earnings per share.

A number of other research firms have also recently weighed in on MGM. Mizuho increased their price objective on shares of MGM Resorts International from $56.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Stifel Nicolaus reduced their price objective on MGM Resorts International from $50.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday. Morgan Stanley lowered their target price on MGM Resorts International from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Needham & Company LLC reissued a “buy” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Finally, Barclays raised their price target on MGM Resorts International from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $48.94.

MGM Resorts International Price Performance

Shares of MGM opened at $31.96 on Friday. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26. The company has a market cap of $9.04 billion, a P/E ratio of 13.32, a PEG ratio of 0.98 and a beta of 1.96. MGM Resorts International has a 12 month low of $25.30 and a 12 month high of $47.26. The stock has a fifty day moving average price of $30.81 and a 200 day moving average price of $34.29.

Hedge Funds Weigh In On MGM Resorts International

A number of large investors have recently made changes to their positions in MGM. Global Trust Asset Management LLC acquired a new position in MGM Resorts International in the 4th quarter valued at approximately $28,000. Assetmark Inc. grew its holdings in shares of MGM Resorts International by 104.1% during the 4th quarter. Assetmark Inc. now owns 806 shares of the company’s stock valued at $28,000 after acquiring an additional 411 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new position in shares of MGM Resorts International in the fourth quarter worth $28,000. Golden State Wealth Management LLC raised its holdings in shares of MGM Resorts International by 83.5% during the first quarter. Golden State Wealth Management LLC now owns 1,000 shares of the company’s stock worth $30,000 after acquiring an additional 455 shares in the last quarter. Finally, True Wealth Design LLC acquired a new stake in MGM Resorts International during the fourth quarter valued at $33,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

Insider Activity at MGM Resorts International

In other news, CFO Jonathan S. Halkyard acquired 10,000 shares of the stock in a transaction on Thursday, March 6th. The shares were purchased at an average cost of $32.17 per share, for a total transaction of $321,700.00. Following the transaction, the chief financial officer now owns 75,648 shares in the company, valued at approximately $2,433,596.16. This trade represents a 15.23 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Todd Meinert sold 6,000 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the completion of the sale, the chief accounting officer now owns 18,301 shares of the company’s stock, valued at $692,509.84. The trade was a 24.69 % decrease in their position. The disclosure for this sale can be found here. 3.06% of the stock is currently owned by corporate insiders.

MGM Resorts International announced that its board has authorized a share buyback program on Wednesday, April 30th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to repurchase up to 22.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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.