MGM Resorts International (NYSE:MGM) Releases Quarterly Earnings Results, Beats Expectations By $0.08 EPS

MGM Resorts International (NYSE:MGM) announced its quarterly earnings results on Wednesday. The company reported $0.45 EPS for the quarter, beating 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 Price Performance

MGM stock opened at $34.34 on Thursday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. The firm has a 50 day moving average price of $34.25 and a 200-day moving average price of $36.81. MGM Resorts International has a 52-week low of $31.61 and a 52-week high of $48.24. The firm has a market capitalization of $10.22 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 2.94 and a beta of 2.20.

Insider Buying and Selling

In other news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction dated 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 completion of the transaction, the director now owns 5,687,478 shares of the company’s stock, valued at $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 available through the SEC website. 2.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on MGM shares. Truist Financial dropped their target price on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Stifel Nicolaus raised their target price on MGM Resorts International from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday. Capital One Financial lifted their target price on MGM Resorts International from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Wednesday. JMP Securities restated a “market outperform” rating and set a $50.00 price objective on shares of MGM Resorts International in a research report on Thursday, January 16th. Finally, Barclays increased their price objective on MGM Resorts International from $45.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $51.94.

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.