MGM Resorts International (NYSE:MGM) Announces Quarterly Earnings Results

MGM Resorts International (NYSE:MGM) issued its quarterly earnings data on Wednesday. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate 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 Price Performance

Shares of MGM stock traded up $0.07 during trading hours on Wednesday, hitting $34.34. The company’s stock had a trading volume of 6,889,991 shares, compared to its average volume of 4,712,910. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. The business has a fifty day moving average of $34.31 and a 200-day moving average of $36.83. MGM Resorts International has a twelve month low of $31.61 and a twelve month high of $48.24. The stock has a market cap of $10.22 billion, a price-to-earnings ratio of 12.26, a P/E/G ratio of 2.94 and a beta of 2.20.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on MGM shares. Susquehanna Bancshares raised their target price on shares of MGM Resorts International from $53.00 to $56.00 in a research report on Wednesday. Morgan Stanley upped their target price on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. BTIG Research downgraded MGM Resorts International from a “buy” rating to a “neutral” rating in a research note on Monday, February 3rd. Truist Financial dropped their target price on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, Mizuho dropped their price objective on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.44.

Insider Buying and Selling

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the sale, the director now directly owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.13% of the company’s stock.

MGM Resorts International Company Profile

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.