Equities analysts expect MGM Resorts International (NYSE:MGM) to report $0.33 earnings per share for the current quarter, according to Zacks. Five analysts have provided estimates for MGM Resorts International’s earnings. The highest EPS estimate is $0.42 and the lowest is $0.28. MGM Resorts International posted earnings of $0.24 per share during the same quarter last year, which suggests a positive year over year growth rate of 37.5%. The company is scheduled to report its next earnings report on Tuesday, October 29th.
On average, analysts expect that MGM Resorts International will report full year earnings of $0.85 per share for the current year, with EPS estimates ranging from $0.74 to $0.92. For the next fiscal year, analysts anticipate that the company will post earnings of $1.54 per share, with EPS estimates ranging from $1.21 to $2.19. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that cover MGM Resorts International.
MGM Resorts International (NYSE:MGM) last issued its earnings results 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 firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.21 billion. MGM Resorts International had a net margin of 1.56% and a return on equity of 3.77%. The firm’s revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 EPS.
Shares of NYSE:MGM traded up $0.19 during midday trading on Thursday, hitting $27.93. The stock had a trading volume of 3,942,300 shares, compared to its average volume of 6,802,044. The stock has a market cap of $14.46 billion, a P/E ratio of 28.21, a PEG ratio of 4.22 and a beta of 1.42. The company’s 50 day moving average price is $29.01. The company has a quick ratio of 0.69, a current ratio of 0.73 and a debt-to-equity ratio of 1.39. MGM Resorts International has a 1 year low of $21.61 and a 1 year high of $31.68.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 10th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Monday, September 9th. MGM Resorts International’s dividend payout ratio is currently 52.53%.
In other MGM Resorts International news, Director Keith A. Meister bought 81,249 shares of the business’s stock in a transaction on Monday, June 24th. The stock was bought at an average price of $27.99 per share, for a total transaction of $2,274,159.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Keith A. Meister bought 2,874,578 shares of the business’s stock in a transaction on Friday, June 7th. The shares were acquired at an average price of $26.18 per share, with a total value of $75,256,452.04. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 5,317,360 shares of company stock worth $140,880,100. 3.47% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in MGM. Corvex Management LP raised its position in MGM Resorts International by 31.0% during the second quarter. Corvex Management LP now owns 20,563,696 shares of the company’s stock worth $587,505,000 after acquiring an additional 4,870,924 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in MGM Resorts International by 7.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 56,685,971 shares of the company’s stock worth $1,619,519,000 after acquiring an additional 3,806,520 shares during the last quarter. Renaissance Technologies LLC raised its position in MGM Resorts International by 15,340.9% during the second quarter. Renaissance Technologies LLC now owns 2,516,870 shares of the company’s stock worth $71,907,000 after acquiring an additional 2,500,570 shares during the last quarter. Nuveen Asset Management LLC raised its position in MGM Resorts International by 137.6% during the second quarter. Nuveen Asset Management LLC now owns 3,236,169 shares of the company’s stock worth $92,458,000 after acquiring an additional 1,874,296 shares during the last quarter. Finally, Marshall Wace LLP raised its position in MGM Resorts International by 333.7% during the first quarter. Marshall Wace LLP now owns 2,304,842 shares of the company’s stock worth $59,142,000 after acquiring an additional 1,773,424 shares during the last quarter. Institutional investors own 79.20% 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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