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

MGM Resorts International (NYSE:MGM - Get Free Report) posted its quarterly earnings results on Wednesday. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.18, Briefing.com reports. The firm had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.24 billion. MGM Resorts International had a net margin of 7.07% and a return on equity of 20.51%. The business's revenue was up 13.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 earnings per share.

MGM Resorts International Stock Performance

Shares of NYSE MGM traded up $0.29 during midday trading on Wednesday, hitting $39.73. The company's stock had a trading volume of 7,355,273 shares, compared to its average volume of 3,874,842. MGM Resorts International has a one year low of $34.12 and a one year high of $51.35. The firm has a market capitalization of $12.60 billion, a price-to-earnings ratio of 12.44, a P/E/G ratio of 1.71 and a beta of 2.19. The stock has a fifty day moving average price of $43.63 and a 200 day moving average price of $42.24. 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

In other news, Director Keith A. Meister sold 325,000 shares of the company's stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total value of $13,942,500.00. Following the completion of the sale, the director now owns 6,098,778 shares of the company's stock, valued at approximately $261,637,576.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.83% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MGM. Morgan Stanley boosted their price target on shares of MGM Resorts International from $45.00 to $46.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 9th. Bank Of America (Bofa) boosted their price target on shares of MGM Resorts International from $45.00 to $50.00 and gave the stock a "neutral" rating in a report on Wednesday, February 14th. JPMorgan Chase & Co. boosted their price target on shares of MGM Resorts International from $52.00 to $54.00 and gave the stock an "overweight" rating in a report on Wednesday, February 14th. Macquarie restated an "outperform" rating and set a $58.00 price target on shares of MGM Resorts International in a report on Wednesday, February 14th. Finally, TheStreet upgraded shares of MGM Resorts International from a "c+" rating to a "b-" rating in a research note on Tuesday, February 13th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $55.34.

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.

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