MGM Resorts International (MGM) to Release Quarterly Earnings on Wednesday

MGM Resorts International (NYSE:MGM - Get Free Report) is set to issue its quarterly earnings data after the market closes on Wednesday, May 1st. Analysts expect the company to announce earnings of $0.62 per share for the quarter. Investors that wish to register for the company's conference call can do so using this link.

MGM Resorts International (NYSE:MGM - Get Free Report) last released its quarterly earnings results on Tuesday, February 13th. The company reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.39. MGM Resorts International had a return on equity of 20.51% and a net margin of 7.07%. The company had revenue of $4.38 billion during the quarter, compared to analysts' expectations of $4.14 billion. During the same period last year, the business posted $0.69 earnings per share. The firm's revenue was up 21.8% compared to the same quarter last year. On average, analysts expect MGM Resorts International to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

MGM Resorts International Stock Down 0.3 %

Shares of MGM traded down $0.14 during mid-day trading on Wednesday, hitting $42.71. 2,616,278 shares of the company traded hands, compared to its average volume of 3,802,486. The company has a market capitalization of $13.54 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 1.75 and a beta of 2.19. The company has a quick ratio of 1.53, a current ratio of 1.57 and a debt-to-equity ratio of 1.46. The business has a 50 day moving average of $43.76 and a 200 day moving average of $42.09. MGM Resorts International has a 1-year low of $34.12 and a 1-year high of $51.35.

Insider Activity

In related news, Director Keith A. Meister sold 325,000 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the sale, the director now directly owns 6,098,778 shares of the company's stock, valued at $261,637,576.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.83% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MGM shares. JPMorgan Chase & Co. upped their price target on shares of MGM Resorts International from $52.00 to $54.00 and gave the company an "overweight" rating in a research note on Wednesday, February 14th. Macquarie reissued an "outperform" rating and issued a $58.00 target price on shares of MGM Resorts International in a research report on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft lifted their price target on MGM Resorts International from $50.00 to $52.00 and gave the stock a "buy" rating in a research report on Wednesday, February 14th. Morgan Stanley increased their price objective on MGM Resorts International from $45.00 to $46.00 and gave the company an "equal weight" rating in a report on Tuesday, April 9th. Finally, Barclays reduced their price objective on MGM Resorts International from $57.00 to $55.00 and set an "overweight" rating for the company in a research note on Wednesday, February 14th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, MGM Resorts International presently has a consensus rating of "Moderate Buy" and a consensus 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.