MGM Resorts International (MGM) Set to Announce Earnings on Wednesday

MGM Resorts International (NYSE:MGM) is scheduled to be releasing its earnings data 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 that are interested in registering for the company’s earnings conference call can do so using this link.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.20. The company had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a net margin of 5.15% and a return on equity of 26.36%. MGM Resorts International’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the firm 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 Performance

NYSE:MGM opened at $40.52 on Wednesday. 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 has a market cap of $12.71 billion, a P/E ratio of 15.58, a P/E/G ratio of 0.92 and a beta of 2.23. MGM Resorts International has a fifty-two week low of $33.44 and a fifty-two week high of $48.24. The firm’s 50 day moving average is $38.30 and its two-hundred day moving average is $40.38.

Insiders Place Their Bets

In related news, CEO William Hornbuckle acquired 58,900 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $33.73 per share, with a total value of $1,986,697.00. Following the acquisition, the chief executive officer now directly owns 377,112 shares in the company, valued at approximately $12,719,987.76. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO William Hornbuckle acquired 58,900 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $33.73 per share, with a total value of $1,986,697.00. Following the acquisition, the chief executive officer now directly owns 377,112 shares in the company, valued at approximately $12,719,987.76. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were bought at an average cost of $34.00 per share, with a total value of $340,000.00. Following the completion of the acquisition, the chief financial officer now owns 38,299 shares in the company, valued at $1,302,166. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 216,400 shares of company stock valued at $7,312,197 in the last ninety days. Corporate insiders own 2.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Stifel Nicolaus raised their target price on shares of MGM Resorts International from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company cut their target price on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Macquarie cut their target price on shares of MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Morgan Stanley raised their target price on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Susquehanna raised their target price on shares of MGM Resorts International from $54.00 to $55.00 and gave the company a “positive” rating in a research note on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $53.64.

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.