Zacks: Brokerages Expect MGM Resorts International (NYSE:MGM) to Post $0.29 EPS
Brokerages expect MGM Resorts International (NYSE:MGM) to report earnings of $0.29 per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for MGM Resorts International’s earnings, with the lowest EPS estimate coming in at $0.17 and the highest estimate coming in at $0.35. MGM Resorts International reported earnings per share of $0.24 during the same quarter last year, which indicates a positive year-over-year growth rate of 20.8%. The company is scheduled to announce its next earnings report after the market closes on Wednesday, October 30th.
On average, analysts expect that MGM Resorts International will report full year earnings of $0.83 per share for the current year, with EPS estimates ranging from $0.67 to $0.92. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.49 per share, with EPS estimates ranging from $1.17 to $2.10. Zacks’ EPS averages are an average based on a survey of analysts that cover MGM Resorts International.
MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.02). The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.21 billion. MGM Resorts International had a return on equity of 3.77% and a net margin of 1.56%. The business’s revenue was up 12.7% on a year-over-year basis. During the same period last year, the business posted $0.26 earnings per share.
Shares of MGM traded up $0.23 during trading hours on Tuesday, hitting $27.87. The stock had a trading volume of 4,816,172 shares, compared to its average volume of 5,084,525. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.73 and a quick ratio of 0.69. The firm has a 50 day simple moving average of $28.06 and a 200-day simple moving average of $27.70. The firm has a market capitalization of $14.41 billion, a P/E ratio of 28.15, a price-to-earnings-growth ratio of 3.56 and a beta of 1.48. MGM Resorts International has a 1-year low of $21.61 and a 1-year high of $31.68.
In other MGM Resorts International news, insider Atif Rafiq purchased 8,761 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was acquired at an average cost of $28.55 per share, for a total transaction of $250,126.55. Following the completion of the transaction, the insider now directly owns 8,761 shares in the company, valued at approximately $250,126.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Rose Mckinney-James sold 2,670 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $28.15, for a total transaction of $75,160.50. Following the sale, the director now owns 4,616 shares of the company’s stock, valued at $129,940.40. The disclosure for this sale can be found here. 3.47% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of MGM. Patriot Financial Group Insurance Agency LLC boosted its position in MGM Resorts International by 3,000.0% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 930 shares of the company’s stock valued at $27,000 after buying an additional 900 shares during the period. Thor Advisors LLC purchased a new stake in MGM Resorts International during the first quarter valued at about $35,000. Trust Co. of Vermont purchased a new stake in MGM Resorts International during the second quarter valued at about $43,000. Valeo Financial Advisors LLC boosted its position in MGM Resorts International by 407.7% during the second quarter. Valeo Financial Advisors LLC now owns 1,523 shares of the company’s stock valued at $44,000 after buying an additional 1,223 shares during the period. Finally, Stephens Inc. AR boosted its position in MGM Resorts International by 33.6% during the third quarter. Stephens Inc. AR now owns 2,193 shares of the company’s stock valued at $61,000 after buying an additional 552 shares during the period. Institutional investors and hedge funds own 82.62% of the company’s stock.
MGM Resorts International Company Profile
MGM Resorts International, through its subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts in the United States and Macau. 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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