MGM Resorts International (NYSE:MGM – Free Report) – Investment analysts at Seaport Res Ptn reduced their FY2024 earnings per share estimates for shares of MGM Resorts International in a report released on Sunday, January 26th. Seaport Res Ptn analyst V. Umansky now expects that the company will post earnings per share of $2.37 for the year, down from their prior estimate of $2.67. The consensus estimate for MGM Resorts International’s current full-year earnings is $2.41 per share. Seaport Res Ptn also issued estimates for MGM Resorts International’s Q1 2025 earnings at $0.47 EPS, Q2 2025 earnings at $0.57 EPS, Q3 2025 earnings at $0.59 EPS, Q4 2025 earnings at $0.70 EPS, FY2026 earnings at $2.71 EPS and FY2027 earnings at $3.15 EPS.
MGM Resorts International (NYSE:MGM – Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share 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 business had revenue of $4.18 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same period last year, the firm posted $0.64 EPS. MGM Resorts International’s quarterly revenue was up 5.3% compared to the same quarter last year.
Check Out Our Latest Stock Analysis on MGM
MGM Resorts International Stock Up 1.6 %
MGM opened at $34.02 on Tuesday. The stock has a market capitalization of $10.13 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 3.06 and a beta of 2.21. The firm has a 50 day moving average price of $34.93 and a 200-day moving average price of $37.50. MGM Resorts International has a twelve month low of $31.61 and a twelve month high of $48.24. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63.
Insider Buying and Selling
In other news, Director Keith A. Meister sold 51,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the sale, the director now directly owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. This represents a 0.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.13% of the stock is owned by company insiders.
Institutional Investors Weigh In On MGM Resorts International
Several institutional investors have recently modified their holdings of MGM. Essex Financial Services Inc. raised its position in MGM Resorts International by 22.0% in the 4th quarter. Essex Financial Services Inc. now owns 6,978 shares of the company’s stock worth $242,000 after purchasing an additional 1,256 shares during the period. Kestra Private Wealth Services LLC grew its stake in shares of MGM Resorts International by 5.6% during the fourth quarter. Kestra Private Wealth Services LLC now owns 17,337 shares of the company’s stock valued at $601,000 after buying an additional 916 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of MGM Resorts International by 9.5% during the 4th quarter. Empowered Funds LLC now owns 23,651 shares of the company’s stock worth $820,000 after acquiring an additional 2,043 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in MGM Resorts International during the 4th quarter valued at $363,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in MGM Resorts International by 36.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,625 shares of the company’s stock valued at $856,000 after acquiring an additional 6,588 shares during the last quarter. 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.
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