Research Analysts Issue Forecasts for MGM Resorts International’s Q2 2022 Earnings (NYSE:MGM)

MGM Resorts International (NYSE:MGM) – Analysts at Truist Securities issued their Q2 2022 EPS estimates for MGM Resorts International in a research report issued to clients and investors on Thursday, January 13th. Truist Securities analyst B. Jonas forecasts that the company will post earnings per share of $0.31 for the quarter. Truist Securities has a “Hold” rating and a $50.00 price objective on the stock. Truist Securities also issued estimates for MGM Resorts International’s Q3 2022 earnings at $0.12 EPS.

Several other analysts have also weighed in on MGM. Citigroup began coverage on MGM Resorts International in a report on Tuesday, December 7th. They issued a “buy” rating and a $56.00 price objective for the company. Susquehanna Bancshares downgraded MGM Resorts International to a “negative” rating and upped their target price for the stock from $10.00 to $36.00 in a research report on Friday, October 1st. Credit Suisse Group increased their price objective on MGM Resorts International from $68.00 to $74.00 and gave the company an “outperform” rating in a research report on Thursday, January 6th. They noted that the move was a valuation call. Stifel Nicolaus boosted their target price on shares of MGM Resorts International from $45.00 to $54.00 and gave the company a “hold” rating in a research note on Thursday, November 4th. They noted that the move was a valuation call. Finally, TheStreet raised shares of MGM Resorts International from a “c” rating to a “b-” rating in a research note on Wednesday, November 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $49.64.

Shares of MGM opened at $44.47 on Friday. MGM Resorts International has a 12 month low of $27.81 and a 12 month high of $51.17. The stock has a market cap of $20.85 billion, a PE ratio of 34.21 and a beta of 2.39. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.96 and a quick ratio of 1.93. The stock’s 50-day moving average is $43.65 and its two-hundred day moving average is $42.95.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, November 3rd. The company reported $0.03 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.07. MGM Resorts International had a negative return on equity of 6.80% and a net margin of 8.33%. The business had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the previous year, the business earned ($1.08) earnings per share.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 15th. Shareholders of record on Friday, December 10th were paid a $0.0025 dividend. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date of this dividend was Thursday, December 9th. MGM Resorts International’s dividend payout ratio (DPR) is 0.77%.

In other news, CAO Todd Meinert sold 6,000 shares of MGM Resorts International stock in a transaction dated Monday, November 8th. The shares were sold at an average price of $50.14, for a total value of $300,840.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John Mcmanus sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, November 8th. The shares were sold at an average price of $50.04, for a total transaction of $350,280.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 116,200 shares of company stock valued at $5,311,864. 5.09% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Liberty Wealth Management LLC increased its position in MGM Resorts International by 2,535.0% during the 2nd quarter. Liberty Wealth Management LLC now owns 1,054 shares of the company’s stock valued at $25,000 after purchasing an additional 1,014 shares during the period. Moors & Cabot Inc. boosted its holdings in shares of MGM Resorts International by 62.3% during the 3rd quarter. Moors & Cabot Inc. now owns 25,000 shares of the company’s stock valued at $27,000 after buying an additional 9,599 shares in the last quarter. Ossiam bought a new position in MGM Resorts International in the 2nd quarter worth about $30,000. Stonebridge Capital Advisors LLC boosted its stake in MGM Resorts International by 147.5% in the 2nd quarter. Stonebridge Capital Advisors LLC now owns 755 shares of the company’s stock worth $32,000 after purchasing an additional 450 shares in the last quarter. Finally, Larson Financial Group LLC lifted its stake in MGM Resorts International by 53.3% during the 2nd quarter. Larson Financial Group LLC now owns 966 shares of the company’s stock valued at $41,000 after acquiring an additional 336 shares during the period. 64.77% of the stock is currently owned by institutional investors.

MGM Resorts International Company Profile

MGM Resorts International is a holding company, which engages in the ownership and operations of casino resorts. The firm’s casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities. It operates through the following business segments: Las Vegas Strip Resorts, Regional Operations and MGM China.

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

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