Equities research analysts expect MGM Resorts International (NYSE:MGM) to announce sales of $3.23 billion for the current quarter, according to Zacks. Five analysts have provided estimates for MGM Resorts International’s earnings. The highest sales estimate is $3.27 billion and the lowest is $3.19 billion. MGM Resorts International posted sales of $3.05 billion in the same quarter last year, which suggests a positive year over year growth rate of 5.9%. The business is expected to issue its next quarterly earnings results on Wednesday, February 12th.
On average, analysts expect that MGM Resorts International will report full year sales of $12.93 billion for the current financial year, with estimates ranging from $12.89 billion to $12.98 billion. For the next financial year, analysts anticipate that the firm will report sales of $13.31 billion, with estimates ranging from $13.00 billion to $13.90 billion. Zacks’ sales averages are an average based on a survey of analysts that cover MGM Resorts International.
MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, October 30th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.29 by ($0.37). The firm had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.33 billion. MGM Resorts International had a return on equity of 4.10% and a net margin of 0.11%. During the same quarter in the previous year, the business posted $0.24 EPS. MGM Resorts International’s revenue was up 9.4% compared to the same quarter last year.
Several equities analysts recently issued reports on the company. Morgan Stanley reduced their price objective on MGM Resorts International from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 17th. Deutsche Bank set a $34.00 target price on shares of MGM Resorts International and gave the company a “hold” rating in a research note on Tuesday, September 17th. UBS Group increased their target price on shares of MGM Resorts International from $31.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. SunTrust Banks started coverage on shares of MGM Resorts International in a research report on Friday. They issued a “hold” rating and a $35.00 price target on the stock. Finally, Nomura lifted their price target on shares of MGM Resorts International from $37.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $31.82.
Shares of MGM stock traded up $0.24 on Monday, hitting $32.17. 3,287,642 shares of the stock traded hands, compared to its average volume of 6,201,126. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.87 and a quick ratio of 0.84. The company has a market capitalization of $16.77 billion, a PE ratio of 32.49, a PEG ratio of 5.26 and a beta of 1.52. MGM Resorts International has a 1-year low of $21.61 and a 1-year high of $32.24. The company’s fifty day moving average is $30.34 and its 200 day moving average is $28.58.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Tuesday, December 10th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.52 dividend on an annualized basis and a yield of 1.62%. MGM Resorts International’s dividend payout ratio is currently 52.53%.
In other news, Director Mary Christine Gay sold 5,200 shares of MGM Resorts International stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $29.20, for a total transaction of $151,840.00. Following the sale, the director now owns 17,716 shares of the company’s stock, valued at $517,307.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Keith A. Meister bought 295,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were acquired at an average cost of $32.04 per share, for a total transaction of $9,451,800.00. 3.47% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. Corvex Management LP lifted its holdings in MGM Resorts International by 31.0% in the second quarter. Corvex Management LP now owns 20,563,696 shares of the company’s stock worth $587,505,000 after purchasing an additional 4,870,924 shares during the period. Maverick Capital Ltd. bought a new stake in shares of MGM Resorts International during the 2nd quarter worth about $129,347,000. Price T Rowe Associates Inc. MD raised its position in shares of MGM Resorts International by 7.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 56,685,971 shares of the company’s stock worth $1,619,519,000 after buying an additional 3,806,520 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of MGM Resorts International by 15,340.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,516,870 shares of the company’s stock worth $71,907,000 after buying an additional 2,500,570 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in shares of MGM Resorts International by 137.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 3,236,169 shares of the company’s stock worth $92,458,000 after acquiring an additional 1,874,296 shares during the period. 81.65% of the stock is owned by institutional investors.
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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