MGM Resorts International (NYSE:MGM) Expected to Post Earnings of $0.08 Per Share

Analysts expect MGM Resorts International (NYSE:MGM) to report $0.08 earnings per share (EPS) for the current quarter, according to Zacks. Six analysts have issued estimates for MGM Resorts International’s earnings, with the highest EPS estimate coming in at $0.20 and the lowest estimate coming in at $0.03. MGM Resorts International reported earnings per share of $0.12 in the same quarter last year, which indicates a negative year over year growth rate of 33.3%. The company is scheduled to announce its next quarterly earnings results on Monday, May 4th.

On average, analysts expect that MGM Resorts International will report full-year earnings of $0.79 per share for the current fiscal year, with EPS estimates ranging from $0.49 to $1.21. For the next fiscal year, analysts expect that the business will report earnings of $1.29 per share, with EPS estimates ranging from $0.76 to $2.19. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that follow MGM Resorts International.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.16). The firm had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.21 billion. MGM Resorts International had a net margin of 15.89% and a return on equity of 3.50%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.06) EPS.

Several analysts recently issued reports on MGM shares. Argus lowered shares of MGM Resorts International from a “buy” rating to a “hold” rating in a report on Thursday, March 12th. TheStreet upgraded shares of MGM Resorts International from a “c” rating to a “b+” rating in a report on Wednesday, February 12th. Deutsche Bank restated a “hold” rating and issued a $35.00 price objective on shares of MGM Resorts International in a report on Friday. Zacks Investment Research upgraded shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Friday, February 7th. Finally, Susquehanna Bancshares upgraded shares of MGM Resorts International from a “negative” rating to a “neutral” rating and reduced their price objective for the company from $27.00 to $10.00 in a report on Wednesday, March 18th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $30.82.

MGM traded down $1.26 on Monday, hitting $12.19. The company had a trading volume of 36,945,063 shares, compared to its average volume of 34,465,096. The firm has a market cap of $6.62 billion, a P/E ratio of 3.08, a PEG ratio of 4.26 and a beta of 1.58. MGM Resorts International has a 1 year low of $5.90 and a 1 year high of $34.63. The company’s fifty day moving average price is $22.77 and its 200 day moving average price is $28.76. The company has a current ratio of 1.26, a quick ratio of 1.22 and a debt-to-equity ratio of 1.22.

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Tuesday, March 10th were paid a dividend of $0.15 per share. The ex-dividend date was Monday, March 9th. This is a positive change from MGM Resorts International’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a yield of 4.92%. MGM Resorts International’s dividend payout ratio is 77.92%.

In other MGM Resorts International news, CEO James Murren sold 303,160 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $32.15, for a total transaction of $9,746,594.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.47% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the business. Bank of New York Mellon Corp increased its stake in MGM Resorts International by 10.0% during the fourth quarter. Bank of New York Mellon Corp now owns 7,870,497 shares of the company’s stock worth $261,850,000 after purchasing an additional 718,276 shares during the period. First Trust Advisors LP increased its stake in MGM Resorts International by 1.6% during the fourth quarter. First Trust Advisors LP now owns 236,668 shares of the company’s stock worth $7,874,000 after purchasing an additional 3,619 shares during the period. Appleton Partners Inc. MA increased its stake in MGM Resorts International by 14.4% during the fourth quarter. Appleton Partners Inc. MA now owns 41,011 shares of the company’s stock worth $1,364,000 after purchasing an additional 5,150 shares during the period. Nomura Holdings Inc. increased its stake in MGM Resorts International by 212.5% during the third quarter. Nomura Holdings Inc. now owns 37,771 shares of the company’s stock worth $1,047,000 after purchasing an additional 25,684 shares during the period. Finally, Virtu Financial LLC increased its stake in MGM Resorts International by 135.7% during the third quarter. Virtu Financial LLC now owns 36,511 shares of the company’s stock worth $1,012,000 after purchasing an additional 21,022 shares during the period. Institutional investors own 86.26% of the company’s stock.

About MGM Resorts International

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.

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

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