MGM Resorts International (NYSE:MGM) Releases Earnings Results, Misses Expectations By $0.15 EPS

MGM Resorts International (NYSE:MGM) posted its quarterly earnings data on Wednesday. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.15), FiscalAI reports. The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a net margin of 2.40% and a return on equity of 23.30%.

MGM Resorts International Stock Performance

Shares of MGM stock traded down $0.71 during trading hours on Wednesday, hitting $27.28. The company’s stock had a trading volume of 6,329,623 shares, compared to its average volume of 4,358,729. The stock has a market cap of $6.86 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 1.56 and a beta of 1.35. MGM Resorts International has a 12-month low of $27.20 and a 12-month high of $51.59. The company has a 50 day moving average of $35.67 and a 200 day moving average of $39.10. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 1.80.

Analyst Ratings Changes

Several analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of MGM Resorts International from $53.00 to $42.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 20th. Weiss Ratings cut shares of MGM Resorts International from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday. Mizuho decreased their price target on shares of MGM Resorts International from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, September 24th. Barclays lowered their price objective on shares of MGM Resorts International from $48.00 to $37.00 and set an “equal weight” rating for the company in a research note on Friday, October 9th. Finally, Susquehanna cut their target price on MGM Resorts International from $46.00 to $41.00 and set a “positive” rating on the stock in a research report on Thursday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, MGM Resorts International has an average rating of “Hold” and a consensus target price of $46.71.

MGM Resorts International Company Profile

MGM Resorts International is a global hospitality and entertainment company that develops, owns, and operates destination resorts featuring casinos, hotels, restaurants, entertainment venues, convention facilities, retail spaces, and nightlife offerings. Its portfolio includes well-known properties such as MGM Grand, Bellagio, ARIA, Mandalay Bay, and The Cosmopolitan of Las Vegas.

The company serves customers through properties in Las Vegas and other U.S. markets, including regional destinations in Michigan, Maryland, Massachusetts, Mississippi, New Jersey, New York, and Ohio.