MGM Resorts International (NYSE:MGM) – Analysts at Gabelli decreased their FY2018 earnings per share estimates for MGM Resorts International in a research report issued on Wednesday. Gabelli analyst A. Trivison now forecasts that the company will post earnings per share of $1.35 for the year, down from their prior forecast of $1.75. Gabelli also issued estimates for MGM Resorts International’s FY2019 earnings at $2.05 EPS.
MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Tuesday, February 20th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. MGM Resorts International had a return on equity of 5.78% and a net margin of 17.92%. The firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the prior year, the company posted $0.11 earnings per share. The firm’s revenue was up 5.5% on a year-over-year basis.
MGM Resorts International (NYSE MGM) opened at $35.38 on Monday. MGM Resorts International has a twelve month low of $25.15 and a twelve month high of $38.41. The company has a market capitalization of $20,034.84, a P/E ratio of 34.69, a P/E/G ratio of 1.69 and a beta of 1.44. The company has a quick ratio of 0.73, a current ratio of 0.77 and a debt-to-equity ratio of 1.10.
Several institutional investors and hedge funds have recently bought and sold shares of MGM. Sun Life Financial INC bought a new stake in shares of MGM Resorts International in the third quarter valued at approximately $124,000. Cerebellum GP LLC bought a new stake in shares of MGM Resorts International in the fourth quarter valued at approximately $126,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of MGM Resorts International by 88.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,945 shares of the company’s stock valued at $165,000 after acquiring an additional 2,318 shares during the period. Spirit of America Management Corp NY boosted its position in shares of MGM Resorts International by 78.1% in the fourth quarter. Spirit of America Management Corp NY now owns 5,700 shares of the company’s stock valued at $190,000 after acquiring an additional 2,500 shares during the period. Finally, Steward Partners Investment Advisory LLC bought a new stake in shares of MGM Resorts International in the third quarter valued at approximately $197,000. 82.31% of the stock is owned by institutional investors.
In other MGM Resorts International news, insider Phyllis James sold 19,149 shares of the stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $33.64, for a total transaction of $644,172.36. Following the transaction, the insider now owns 8,961 shares in the company, valued at $301,448.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sean Charland purchased 25,000 shares of the stock in a transaction on Wednesday, December 6th. The shares were bought at an average price of $22.50 per share, for a total transaction of $562,500.00. In the last quarter, insiders have acquired 95,000 shares of company stock worth $581,500. Corporate insiders own 12.20% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Friday, March 9th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend is Thursday, March 8th. This is an increase from MGM Resorts International’s previous quarterly dividend of $0.11. MGM Resorts International’s dividend payout ratio (DPR) is 12.94%.
About MGM Resorts International
MGM Resorts International is a holding company. The Company, through its subsidiaries, owns and operates casino resorts. The Company operates in two segments: domestic resorts and MGM China. Its domestic resorts segment consists of non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities.
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