MGM Resorts International (NYSE:MGM – Free 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:MGM – Get 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.
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
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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