MGM Resorts International (NYSE:MGM) Releases Earnings Results, Beats Estimates By $0.18 EPS

MGM Resorts International (NYSE:MGM) issued its earnings results on Wednesday. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.18, Briefing.com reports. The business had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.24 billion. MGM Resorts International had a return on equity of 20.51% and a net margin of 7.07%. MGM Resorts International’s revenue was up 13.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.44 earnings per share.

MGM Resorts International Trading Up 0.7 %

MGM Resorts International stock traded up $0.29 during mid-day trading on Wednesday, hitting $39.73. The stock had a trading volume of 7,355,273 shares, compared to its average volume of 3,874,842. The stock has a 50-day simple moving average of $43.63 and a two-hundred day simple moving average of $42.24. The stock has a market capitalization of $12.60 billion, a PE ratio of 12.44, a P/E/G ratio of 1.71 and a beta of 2.19. MGM Resorts International has a 12 month low of $34.12 and a 12 month high of $51.35. The company has a current ratio of 1.57, a quick ratio of 1.53 and a debt-to-equity ratio of 1.46.

Insider Activity at MGM Resorts International

In related news, Director Keith A. Meister sold 325,000 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total value of $13,942,500.00. Following the transaction, the director now owns 6,098,778 shares in the company, valued at $261,637,576.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.83% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MGM has been the subject of a number of recent research reports. Bank Of America (Bofa) upped their target price on MGM Resorts International from $45.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Mizuho initiated coverage on MGM Resorts International in a research note on Tuesday, March 26th. They issued a “buy” rating and a $61.00 target price for the company. Macquarie restated an “outperform” rating and issued a $58.00 target price on shares of MGM Resorts International in a research note on Wednesday, February 14th. JMP Securities reiterated a “market outperform” rating and issued a $57.00 price target on shares of MGM Resorts International in a research report on Wednesday, February 14th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on MGM Resorts International from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $55.34.

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.