Analysts Anticipate MGM Resorts International (NYSE:MGM) to Post $0.25 Earnings Per Share

Equities research analysts forecast that MGM Resorts International (NYSE:MGM) will announce $0.25 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for MGM Resorts International’s earnings, with estimates ranging from $0.19 to $0.30. MGM Resorts International reported earnings of $0.26 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 3.8%. The company is expected to report its next earnings results after the market closes on Thursday, July 25th.

According to Zacks, analysts expect that MGM Resorts International will report full-year earnings of $0.96 per share for the current year, with EPS estimates ranging from $0.79 to $1.18. For the next year, analysts anticipate that the firm will report earnings of $1.56 per share, with EPS estimates ranging from $1.23 to $2.07. Zacks’ EPS averages are an average based on a survey of analysts that follow MGM Resorts International.

MGM Resorts International (NYSE:MGM) last released its earnings results on Monday, April 29th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.04). The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.12 billion. MGM Resorts International had a return on equity of 4.03% and a net margin of 2.26%. MGM Resorts International’s revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.38 EPS.

Several equities research analysts have recently issued reports on the stock. Deutsche Bank lowered shares of Hilton Hotels from a “buy” rating to a “hold” rating and set a $92.60 target price for the company. in a report on Wednesday, May 1st. They noted that the move was a valuation call. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Finally, Morgan Stanley raised their price target on shares of Yum! Brands from $97.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Thursday. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. MGM Resorts International has an average rating of “Hold” and an average target price of $31.88.

MGM Resorts International stock opened at $28.59 on Tuesday. The business has a 50-day moving average price of $27.86. The company has a market cap of $15.36 billion, a price-to-earnings ratio of 28.88, a PEG ratio of 3.68 and a beta of 1.40. The company has a quick ratio of 0.75, a current ratio of 0.78 and a debt-to-equity ratio of 1.31. MGM Resorts International has a 12-month low of $21.61 and a 12-month high of $31.66.

In related news, Director Paul J. Salem purchased 800,000 shares of MGM Resorts International stock in a transaction that occurred on Wednesday, May 8th. The shares were bought at an average price of $25.40 per share, with a total value of $20,320,000.00. Following the purchase, the director now directly owns 800,000 shares of the company’s stock, valued at approximately $20,320,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Keith A. Meister bought 209,136 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were acquired at an average cost of $27.99 per share, for a total transaction of $5,853,716.64. The disclosure for this purchase can be found here. Insiders purchased a total of 6,117,360 shares of company stock worth $161,200,100 in the last ninety days. 3.47% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. First Personal Financial Services purchased a new position in MGM Resorts International during the 1st quarter valued at about $26,000. Quadrant Capital Group LLC increased its position in MGM Resorts International by 94.3% during the 1st quarter. Quadrant Capital Group LLC now owns 1,259 shares of the company’s stock valued at $29,000 after purchasing an additional 611 shares during the period. Rational Advisors LLC increased its position in MGM Resorts International by 1,113.8% during the 1st quarter. Rational Advisors LLC now owns 1,323 shares of the company’s stock valued at $34,000 after purchasing an additional 1,214 shares during the period. Thor Advisors LLC purchased a new position in MGM Resorts International during the 1st quarter valued at about $35,000. Finally, Bessemer Group Inc. increased its position in MGM Resorts International by 579.4% during the 4th quarter. Bessemer Group Inc. now owns 1,583 shares of the company’s stock valued at $38,000 after purchasing an additional 1,350 shares during the period. 79.35% of the stock is currently owned by institutional investors and hedge funds.

MGM Resorts International Company Profile

MGM Resorts International, through its subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts in the United States and Macau. 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.

See Also: Return on Investment (ROI)

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Earnings History and Estimates for MGM Resorts International (NYSE:MGM)

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