Wall Street analysts expect MGM Resorts International (NYSE:MGM) to post sales of $541.92 million for the current fiscal quarter, according to Zacks. Six analysts have made estimates for MGM Resorts International’s earnings. The highest sales estimate is $708.51 million and the lowest is $280.90 million. MGM Resorts International reported sales of $3.22 billion in the same quarter last year, which would suggest a negative year over year growth rate of 83.2%. The company is scheduled to report its next earnings results on Thursday, July 23rd.

On average, analysts expect that MGM Resorts International will report full-year sales of $6.56 billion for the current year, with estimates ranging from $5.49 billion to $7.48 billion. For the next financial year, analysts anticipate that the firm will report sales of $10.40 billion, with estimates ranging from $9.05 billion to $11.25 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover MGM Resorts International.

MGM Resorts International (NYSE:MGM) last released its earnings results on Thursday, April 30th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.13). The company had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.26 billion. MGM Resorts International had a return on equity of 0.81% and a net margin of 23.59%. The firm’s revenue for the quarter was down 29.1% on a year-over-year basis. During the same quarter last year, the business earned $0.12 earnings per share.

A number of research analysts have weighed in on MGM shares. Credit Suisse Group began coverage on MGM Resorts International in a report on Thursday, May 21st. They issued a “neutral” rating and a $15.00 price objective on the stock. Barclays restated a “hold” rating on shares of MGM Resorts International in a report on Wednesday, May 20th. Stifel Nicolaus lowered their target price on MGM Resorts International from $38.00 to $20.00 and set a “hold” rating for the company in a report on Friday, May 1st. UBS Group decreased their target price on MGM Resorts International from $35.00 to $18.00 and set a “neutral” rating for the company in a report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. cut shares of MGM Resorts International from an “overweight” rating to a “neutral” rating and set a $18.00 price objective for the company. in a research report on Friday, May 1st. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. MGM Resorts International currently has a consensus rating of “Hold” and an average target price of $20.33.

In other MGM Resorts International news, Director Paul J. Salem acquired 195,000 shares of the company’s stock in a transaction dated Friday, April 3rd. The shares were acquired at an average cost of $13.63 per share, for a total transaction of $2,657,850.00. Following the completion of the purchase, the director now owns 1,517,000 shares of the company’s stock, valued at approximately $20,676,710. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Keith A. Meister acquired 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The shares were acquired at an average cost of $10.97 per share, with a total value of $1,097,000.00. Following the transaction, the director now directly owns 1,322,000 shares in the company, valued at approximately $14,502,340. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 309,812 shares of company stock worth $3,978,964. Corporate insiders own 5.06% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. boosted its position in shares of MGM Resorts International by 2.7% in the fourth quarter. Victory Capital Management Inc. now owns 146,426 shares of the company’s stock valued at $4,872,000 after acquiring an additional 3,897 shares during the period. FMR LLC increased its holdings in shares of MGM Resorts International by 652.4% during the 4th quarter. FMR LLC now owns 2,597,644 shares of the company’s stock worth $86,423,000 after purchasing an additional 2,252,387 shares during the period. Private Advisor Group LLC acquired a new position in shares of MGM Resorts International during the fourth quarter valued at about $220,000. Banque Cantonale Vaudoise bought a new stake in shares of MGM Resorts International in the fourth quarter valued at about $714,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of MGM Resorts International by 7.7% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 138,450 shares of the company’s stock valued at $4,606,000 after buying an additional 9,900 shares during the period. 74.92% of the stock is currently owned by hedge funds and other institutional investors.

Shares of MGM Resorts International stock traded down $0.02 on Thursday, hitting $16.80. The company’s stock had a trading volume of 18,788,349 shares, compared to its average volume of 23,284,555. The company has a debt-to-equity ratio of 1.51, a quick ratio of 2.85 and a current ratio of 2.89. The company has a market capitalization of $8.07 billion, a price-to-earnings ratio of 3.03 and a beta of 2.20. The firm has a fifty day moving average price of $17.54 and a 200-day moving average price of $22.43. MGM Resorts International has a 1 year low of $5.90 and a 1 year high of $34.63.

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Wednesday, June 10th were issued a $0.002 dividend. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $0.01 annualized dividend and a yield of 0.05%. MGM Resorts International’s dividend payout ratio (DPR) is currently 1.30%.

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.

Read More: What is insider trading?

Get a free copy of the Zacks research report on MGM Resorts International (MGM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for MGM Resorts International (NYSE:MGM)

Receive News & Ratings for MGM Resorts International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGM Resorts International and related companies with MarketBeat.com's FREE daily email newsletter.