Seaport Res Ptn Has Negative Outlook for MGM Q4 Earnings

MGM Resorts International (NYSE:MGMFree Report) – Analysts at Seaport Res Ptn lowered their Q4 2024 earnings estimates for MGM Resorts International in a research report issued to clients and investors on Sunday, January 26th. Seaport Res Ptn analyst V. Umansky now expects that the company will earn $0.49 per share for the quarter, down from their previous forecast of $0.80. 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 FY2025 earnings at $2.33 EPS.

MGM Resorts International (NYSE:MGMGet Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter last year, the company posted $0.64 EPS. The business’s revenue was up 5.3% compared to the same quarter last year.

A number of other equities analysts have also commented on MGM. Wells Fargo & Company dropped their price target on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Truist Financial cut their target price on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Morgan Stanley raised their price target on MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group cut their price objective on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Finally, Barclays lowered their target price on MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Friday, December 13th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, MGM Resorts International has a consensus rating of “Moderate Buy” and an average price target of $51.93.

View Our Latest Report on MGM Resorts International

MGM Resorts International Stock Up 1.7 %

MGM opened at $34.60 on Wednesday. The firm has a market cap of $10.30 billion, a P/E ratio of 12.36, a price-to-earnings-growth ratio of 3.06 and a beta of 2.21. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. The business has a 50 day moving average price of $34.86 and a 200 day moving average price of $37.48. MGM Resorts International has a twelve month low of $31.61 and a twelve month high of $48.24.

Institutional Trading of MGM Resorts International

A number of large investors have recently bought and sold shares of the stock. MidAtlantic Capital Management Inc. bought a new position in shares of MGM Resorts International during the third quarter valued at $28,000. Global Trust Asset Management LLC acquired a new stake in shares of MGM Resorts International during the 4th quarter worth about $28,000. Eastern Bank bought a new position in MGM Resorts International during the 3rd quarter valued at about $35,000. Brooklyn Investment Group acquired a new position in MGM Resorts International in the third quarter valued at about $44,000. Finally, Planning Capital Management Corp bought a new stake in MGM Resorts International during the third quarter worth about $45,000. 68.11% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the completion of the transaction, the director now directly owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. This represents a 0.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.13% of the company’s stock.

About MGM Resorts International

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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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