Brokerages Anticipate MGM Resorts International (MGM) to Post $0.30 Earnings Per Share

Analysts expect MGM Resorts International (NYSE:MGM) to announce earnings of $0.30 per share for the current quarter, Zacks reports. Five analysts have provided estimates for MGM Resorts International’s earnings, with the lowest EPS estimate coming in at $0.24 and the highest estimate coming in at $0.37. MGM Resorts International posted earnings of $0.38 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 21.1%. The business is scheduled to report its next earnings results before the market opens on Thursday, April 26th.

According to Zacks, analysts expect that MGM Resorts International will report full year earnings of $1.40 per share for the current financial year, with EPS estimates ranging from $1.33 to $1.56. For the next financial year, analysts forecast that the firm will report earnings of $1.84 per share, with EPS estimates ranging from $1.58 to $2.16. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for MGM Resorts International.

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MGM Resorts International (NYSE:MGM) last released its earnings results on Tuesday, February 20th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. The business had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.51 billion. MGM Resorts International had a net margin of 17.92% and a return on equity of 5.78%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.11 earnings per share.

A number of analysts have recently commented on the stock. Jefferies Group assumed coverage on shares of MGM Resorts International in a research note on Thursday, January 18th. They set a “buy” rating and a $43.00 target price for the company. Telsey Advisory Group assumed coverage on shares of MGM Resorts International in a research note on Wednesday, March 14th. They set a “market perform” rating and a $39.00 target price for the company. Zacks Investment Research raised shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Monday, February 5th. Barclays boosted their target price on shares of MGM Resorts International from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Finally, Bank of America boosted their price target on shares of MGM Resorts International from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $38.53.

MGM stock opened at $34.13 on Friday. The stock has a market cap of $19,330.12, a PE ratio of 33.46, a P/E/G ratio of 1.62 and a beta of 1.40. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.77 and a quick ratio of 0.73. MGM Resorts International has a 52 week low of $27.01 and a 52 week high of $38.41.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Friday, March 9th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, March 8th. This is a positive change from MGM Resorts International’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a yield of 1.41%. MGM Resorts International’s payout ratio is presently 47.06%.

In other MGM Resorts International news, CFO Daniel D’arrigo sold 36,366 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $34.78, for a total value of $1,264,809.48. Following the transaction, the chief financial officer now directly owns 242,799 shares in the company, valued at approximately $8,444,549.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Corey Ian Sanders sold 23,134 shares of the business’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $36.68, for a total transaction of $848,555.12. Following the completion of the transaction, the insider now owns 203,425 shares in the company, valued at $7,461,629. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 46,000 shares of company stock worth $49,000 and sold 142,646 shares worth $5,104,710. Insiders own 0.43% of the company’s stock.

Large investors have recently bought and sold shares of the business. Cerebellum GP LLC acquired a new position in MGM Resorts International in the 4th quarter valued at about $126,000. Northwestern Mutual Wealth Management Co. boosted its holdings in MGM Resorts International by 88.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,945 shares of the company’s stock valued at $165,000 after purchasing an additional 2,318 shares during the last quarter. Spirit of America Management Corp NY boosted its holdings in MGM Resorts International by 78.1% in the 4th quarter. Spirit of America Management Corp NY now owns 5,700 shares of the company’s stock valued at $190,000 after purchasing an additional 2,500 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in MGM Resorts International in the 3rd quarter valued at about $197,000. Finally, NuWave Investment Management LLC acquired a new position in MGM Resorts International in the 4th quarter valued at about $197,000. Institutional investors own 82.50% of the company’s stock.

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MGM Resorts International Company Profile

MGM Resorts International, through its subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts in the United States and China. The company operates through two segments, Domestic Resorts and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.

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Earnings History and Estimates for MGM Resorts International (NYSE:MGM)

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