Seaport Res Ptn Has Bullish Estimate for MGM FY2026 Earnings

MGM Resorts International (NYSE:MGM - Free Report) - Equities research analysts at Seaport Res Ptn boosted their FY2026 earnings estimates for shares of MGM Resorts International in a report issued on Monday, July 21st. Seaport Res Ptn analyst V. Umansky now anticipates that the company will earn $2.84 per share for the year, up from their previous estimate of $2.49. Seaport Res Ptn has a "Hold" rating on the stock. The consensus estimate for MGM Resorts International's current full-year earnings is $2.21 per share. Seaport Res Ptn also issued estimates for MGM Resorts International's FY2027 earnings at $3.48 EPS.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.19. The firm had revenue of $4.28 billion for the quarter, compared to analysts' expectations of $4.29 billion. MGM Resorts International had a net margin of 3.95% and a return on equity of 20.64%. The business's revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.74 EPS.

A number of other analysts have also weighed in on the stock. Susquehanna increased their price objective on shares of MGM Resorts International from $45.00 to $50.00 and gave the stock a "positive" rating in a research report on Thursday, May 1st. Citizens Jmp lowered shares of MGM Resorts International from an "outperform" rating to a "market perform" rating in a research report on Thursday, June 26th. JPMorgan Chase & Co. assumed coverage on shares of MGM Resorts International in a research report on Monday, June 23rd. They issued a "neutral" rating and a $38.00 price objective on the stock. Macquarie reduced their price objective on shares of MGM Resorts International from $50.00 to $48.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Finally, Wall Street Zen raised shares of MGM Resorts International from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $48.00.

MGM Resorts International Price Performance

Shares of NYSE MGM traded up $1.08 during mid-day trading on Thursday, hitting $38.44. 4,078,614 shares of the company's stock traded hands, compared to its average volume of 4,064,193. The company's 50-day moving average is $34.62 and its two-hundred day moving average is $33.23. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.31 and a quick ratio of 1.26. The company has a market capitalization of $10.46 billion, a P/E ratio of 17.16, a PEG ratio of 2.48 and a beta of 1.76. MGM Resorts International has a 1 year low of $25.30 and a 1 year high of $43.99.

MGM Resorts International announced that its board has approved a stock buyback program on Wednesday, April 30th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to purchase up to 22.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

Insider Activity at MGM Resorts International

In related news, COO Corey Ian Sanders sold 40,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $34.43, for a total transaction of $1,377,200.00. Following the completion of the sale, the chief operating officer owned 281,530 shares of the company's stock, valued at $9,693,077.90. This represents a 12.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Keith A. Meister sold 60,000 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $32.09, for a total transaction of $1,925,400.00. Following the sale, the director directly owned 5,627,478 shares of the company's stock, valued at $180,585,769.02. The trade was a 1.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold 105,261 shares of company stock valued at $3,486,367 over the last 90 days. Insiders own 3.06% of the company's stock.

Institutional Investors Weigh In On MGM Resorts International

Hedge funds and other institutional investors have recently bought and sold shares of the company. ArrowMark Colorado Holdings LLC lifted its stake in shares of MGM Resorts International by 42.8% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 937,175 shares of the company's stock worth $32,473,000 after buying an additional 280,700 shares during the period. Korea Investment CORP lifted its stake in shares of MGM Resorts International by 964.3% during the fourth quarter. Korea Investment CORP now owns 145,287 shares of the company's stock worth $5,034,000 after buying an additional 131,636 shares during the period. Vontobel Holding Ltd. lifted its stake in shares of MGM Resorts International by 74.6% during the first quarter. Vontobel Holding Ltd. now owns 21,778 shares of the company's stock worth $646,000 after buying an additional 9,304 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of MGM Resorts International by 60.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 61,748 shares of the company's stock worth $1,830,000 after buying an additional 23,234 shares during the period. Finally, Allianz SE acquired a new stake in shares of MGM Resorts International during the fourth quarter worth $1,166,000. Hedge funds and other institutional investors own 68.11% 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.