MGM Resorts International (NYSE:MGM) Releases Earnings Results, Beats Estimates By $0.08 EPS

MGM Resorts International (NYSE:MGM) issued its earnings results on Wednesday. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08, Zacks reports. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%.

MGM Resorts International Stock Performance

NYSE:MGM traded up $0.07 during trading hours on Wednesday, reaching $34.34. 6,889,991 shares of the stock were exchanged, compared to its average volume of 4,712,910. MGM Resorts International has a 52 week low of $31.61 and a 52 week high of $48.24. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $10.22 billion, a P/E ratio of 12.26, a P/E/G ratio of 2.94 and a beta of 2.20. The firm has a 50 day simple moving average of $34.31 and a 200-day simple moving average of $36.83.

Analysts Set New Price Targets

Several research firms have issued reports on MGM. Wells Fargo & Company decreased their price objective on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Barclays reduced their price objective on MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday, December 13th. Jefferies Financial Group decreased their target price 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. Capital One Financial upped their price target on MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Morgan Stanley increased their price objective on shares of 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. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $52.44.

Insider Activity

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction on Friday, December 13th. The shares were 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 owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. The trade was a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company 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.