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

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

MGM Resorts International Stock Up 0.8 %

Shares of NYSE MGM traded up $0.30 during trading on Friday, hitting $40.67. The stock had a trading volume of 1,006,216 shares, compared to its average volume of 5,046,577. MGM Resorts International has a 12 month low of $31.61 and a 12 month high of $48.24. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. The company has a market capitalization of $12.11 billion, a PE ratio of 14.53, a PEG ratio of 2.94 and a beta of 2.20. The firm has a fifty day moving average of $34.32 and a two-hundred day moving average of $36.83.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Truist Financial reduced their price target on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Stifel Nicolaus raised their price target on shares of MGM Resorts International from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday. Susquehanna Bancshares lifted their target price on shares of MGM Resorts International from $53.00 to $56.00 in a research report on Wednesday. Jefferies Financial Group cut their target price on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Finally, Citigroup boosted their price target on shares of MGM Resorts International from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, MGM Resorts International presently has a consensus rating of “Moderate Buy” and an average price target of $51.39.

Insider Transactions at MGM Resorts International

In other news, Director Keith A. Meister sold 51,000 shares of the company’s 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 sale, the director now owns 5,687,478 shares in the company, valued at $207,991,070.46. This represents a 0.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company 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.