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

MGM Resorts International (NYSE:MGM) is projected to release its earnings data after the market closes on Wednesday, February 12th. Analysts expect MGM Resorts International to post earnings of $0.37 per share and revenue of $4.27 billion for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

MGM Resorts International Stock Performance

Shares of NYSE:MGM opened at $34.56 on Wednesday. MGM Resorts International has a 1 year low of $31.61 and a 1 year high of $48.24. The stock has a market capitalization of $10.29 billion, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 2.93 and a beta of 2.20. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. The company’s 50 day simple moving average is $34.65 and its 200 day simple moving average is $37.12.

Wall Street Analyst Weigh In

Several brokerages have commented on MGM. JMP Securities reissued a “market outperform” rating and set a $50.00 target price on shares of MGM Resorts International in a research note on Thursday, January 16th. BTIG Research cut shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a research report on Monday. 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 report on Thursday, October 17th. Barclays lowered their price target on shares of MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating for the company in a report on Friday, December 13th. Finally, Jefferies Financial Group cut their price objective on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, MGM Resorts International has an average rating of “Moderate Buy” and an average price target of $51.93.

Insider Transactions at MGM Resorts International

In other news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the completion of the sale, the director now directly owns 5,687,478 shares in the company, valued at $207,991,070.46. This represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.83% of the stock is owned by corporate insiders.

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.