What is Seaport Res Ptn's Estimate for MGM FY2025 Earnings?

MGM Resorts International (NYSE:MGM - Free Report) - Seaport Res Ptn dropped their FY2025 earnings per share estimates for shares of MGM Resorts International in a research report issued to clients and investors on Tuesday, April 29th. Seaport Res Ptn analyst V. Umansky now forecasts that the company will post earnings of $1.96 per share for the year, down from their prior estimate of $2.22. The consensus estimate for MGM Resorts International's current full-year earnings is $2.21 per share.

MGM Resorts International (NYSE:MGM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.19. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. The business had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the previous year, the business earned $0.74 earnings per share. The firm's revenue was down 2.4% compared to the same quarter last year.

Several other research firms have also recently weighed in on MGM. JMP Securities reduced their price objective on MGM Resorts International from $50.00 to $45.00 and set a "market outperform" rating for the company in a research report on Thursday, April 17th. Wells Fargo & Company raised their price target on shares of MGM Resorts International from $44.00 to $46.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Needham & Company LLC reaffirmed a "buy" rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Canaccord Genuity Group reissued a "buy" rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Finally, Macquarie lowered their price target on MGM Resorts International from $50.00 to $48.00 and set an "outperform" rating on the stock in a research note on Friday. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, MGM Resorts International currently has an average rating of "Moderate Buy" and an average target price of $48.94.

MGM Resorts International Stock Performance

MGM traded down $0.59 during trading on Thursday, hitting $31.48. The stock had a trading volume of 2,356,105 shares, compared to its average volume of 5,746,222. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73. MGM Resorts International has a 12 month low of $25.30 and a 12 month high of $47.26. The company has a 50 day simple moving average of $30.75 and a 200-day simple moving average of $34.18. The firm has a market cap of $8.57 billion, a PE ratio of 13.12, a P/E/G ratio of 0.98 and a beta of 1.78.

MGM Resorts International declared that its board has approved a share buyback program on Wednesday, April 30th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 22.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of MGM Resorts International stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total transaction of $227,040.00. Following the completion of the sale, the chief accounting officer now owns 18,301 shares of the company's stock, valued at approximately $692,509.84. The trade was a 24.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jonathan S. Halkyard purchased 10,000 shares of MGM Resorts International stock in a transaction dated Thursday, March 6th. The stock was bought at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the completion of the transaction, the chief financial officer now directly owns 75,648 shares in the company, valued at $2,433,596.16. The trade was a 15.23 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.06% of the stock is currently owned by corporate insiders.

Institutional Trading of MGM Resorts International

A number of hedge funds have recently modified their holdings of the company. TD Waterhouse Canada Inc. increased its position in shares of MGM Resorts International by 8.9% in the fourth quarter. TD Waterhouse Canada Inc. now owns 3,190 shares of the company's stock worth $111,000 after purchasing an additional 261 shares during the period. Amalgamated Bank lifted its holdings in shares of MGM Resorts International by 0.8% during the first quarter. Amalgamated Bank now owns 43,933 shares of the company's stock worth $1,302,000 after purchasing an additional 329 shares during the period. Ballentine Partners LLC grew its stake in shares of MGM Resorts International by 5.4% in the fourth quarter. Ballentine Partners LLC now owns 6,553 shares of the company's stock worth $227,000 after purchasing an additional 333 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in MGM Resorts International by 1.7% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 19,749 shares of the company's stock valued at $684,000 after purchasing an additional 333 shares during the period. Finally, Global Retirement Partners LLC lifted its holdings in MGM Resorts International by 47.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company's stock worth $43,000 after buying an additional 404 shares during the period. 68.11% of the stock is currently owned by institutional investors and hedge funds.

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.