MGM Resorts International (NYSE:MGM) Posts Earnings Results, Beats Estimates By $0.08 EPS

MGM Resorts International (NYSE:MGM) issued its quarterly earnings results on Wednesday. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08, Zacks reports. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%.

MGM Resorts International Stock Performance

Shares of MGM stock traded up $0.30 during trading hours on Friday, reaching $40.67. 1,006,216 shares of the company traded hands, compared to its average volume of 5,046,577. MGM Resorts International has a 12-month low of $31.61 and a 12-month high of $48.24. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. The company has a market cap of $12.11 billion, a P/E ratio of 14.53, a P/E/G ratio of 2.94 and a beta of 2.20. The firm has a 50-day moving average price of $34.32 and a 200 day moving average price of $36.83.

Insider Activity

In related news, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the transaction, the director now directly owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. The trade was a 0.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.13% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MGM. Susquehanna Bancshares boosted their price target on shares of MGM Resorts International from $53.00 to $56.00 in a report on Wednesday. Stifel Nicolaus boosted their price target on shares of MGM Resorts International from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday. JMP Securities reissued a “market outperform” rating and issued a $50.00 price target on shares of MGM Resorts International in a report on Thursday. Jefferies Financial Group dropped their price objective on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Finally, Truist Financial dropped their price objective on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $51.39.

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.