MGM Resorts International (MGM) to Release Earnings on Wednesday

MGM Resorts International (NYSE:MGM) will issue its quarterly earnings data after the market closes on Wednesday, October 30th. Analysts expect the company to announce earnings of $0.61 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.20. The firm had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a return on equity of 26.36% and a net margin of 5.15%. MGM Resorts International’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.59 EPS. On average, analysts expect MGM Resorts International to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

MGM Resorts International Stock Performance

Shares of MGM stock opened at $41.73 on Tuesday. The company has a current ratio of 1.47, a quick ratio of 1.42 and a debt-to-equity ratio of 1.65. MGM Resorts International has a 12-month low of $33.44 and a 12-month high of $48.24. The business’s 50 day moving average is $38.41 and its two-hundred day moving average is $40.23. The company has a market capitalization of $12.67 billion, a P/E ratio of 15.75, a P/E/G ratio of 0.97 and a beta of 2.23.

Insider Activity

In other news, CEO William Hornbuckle purchased 58,900 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was acquired at an average price of $33.73 per share, for a total transaction of $1,986,697.00. Following the acquisition, the chief executive officer now directly owns 377,112 shares of the company’s stock, valued at approximately $12,719,987.76. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Jonathan S. Halkyard purchased 10,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was acquired at an average cost of $34.00 per share, for a total transaction of $340,000.00. Following the completion of the transaction, the chief financial officer now directly owns 38,299 shares in the company, valued at approximately $1,302,166. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William Hornbuckle acquired 58,900 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $33.73 per share, for a total transaction of $1,986,697.00. Following the completion of the acquisition, the chief executive officer now owns 377,112 shares in the company, valued at approximately $12,719,987.76. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 216,400 shares of company stock valued at $7,312,197. 2.13% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MGM shares. Stifel Nicolaus increased their target price on MGM Resorts International from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company decreased their price objective on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Barclays reduced their price target on shares of MGM Resorts International from $56.00 to $54.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Morgan Stanley lifted their price objective on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. Finally, Truist Financial reduced their target price on MGM Resorts International from $58.00 to $56.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $54.08.

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.