FY2024 Earnings Estimate for MGM Issued By Seaport Res Ptn

MGM Resorts International (NYSE:MGM) – Equities researchers at Seaport Res Ptn decreased their FY2024 earnings per share (EPS) estimates for MGM Resorts International in a research note issued to investors on Thursday, October 31st. Seaport Res Ptn analyst V. Umansky now anticipates that the company will post earnings of $2.67 per share for the year, down from their previous forecast of $2.71. The consensus estimate for MGM Resorts International’s current full-year earnings is $2.45 per share. Seaport Res Ptn also issued estimates for MGM Resorts International’s Q4 2024 earnings at $0.80 EPS and FY2025 earnings at $3.27 EPS.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The company had revenue of $4.18 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter last year, the firm posted $0.64 EPS. MGM Resorts International’s revenue for the quarter was up 5.3% compared to the same quarter last year.

Other equities analysts have also recently issued reports about the stock. Morgan Stanley lifted their price target on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft cut their target price on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Susquehanna raised their price target on MGM Resorts International from $54.00 to $55.00 and gave the stock a “positive” rating in a research note on Thursday, August 1st. Stifel Nicolaus boosted their price objective on MGM Resorts International from $60.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, JMP Securities reduced their target price on MGM Resorts International from $56.00 to $54.00 and set a “market outperform” rating on the stock in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.15.

MGM Resorts International Trading Down 0.0 %

MGM stock opened at $36.40 on Monday. MGM Resorts International has a twelve month low of $33.44 and a twelve month high of $48.24. The stock has a market capitalization of $10.84 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 0.94 and a beta of 2.23. The company has a quick ratio of 1.42, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. The firm’s fifty day simple moving average is $38.41 and its two-hundred day simple moving average is $40.14.

Insider Buying and Selling at MGM Resorts International

In other news, Director Keith A. Meister sold 121,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $36.72, for a total value of $4,443,120.00. Following the completion of the sale, the director now owns 5,738,478 shares of the company’s stock, valued at approximately $210,716,912.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.13% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. International Assets Investment Management LLC bought a new position in MGM Resorts International in the second quarter worth about $28,000. EverSource Wealth Advisors LLC raised its stake in shares of MGM Resorts International by 60.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock worth $41,000 after acquiring an additional 329 shares in the last quarter. Eastern Bank purchased a new stake in MGM Resorts International during the third quarter valued at approximately $35,000. UMB Bank n.a. boosted its stake in MGM Resorts International by 33.3% in the second quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after acquiring an additional 237 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in MGM Resorts International in the second quarter valued at approximately $49,000. 68.11% of the stock is owned by institutional investors.

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.