MGM Resorts International (NYSE:MGM) – Analysts at Gabelli decreased their FY2018 earnings per share (EPS) estimates for MGM Resorts International in a research note issued on Thursday. Gabelli analyst A. Trivison now forecasts that the company will earn $1.75 per share for the year, down from their prior estimate of $1.80.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Thursday, April 27th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.12. The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.63 billion. MGM Resorts International had a net margin of 12.25% and a return on equity of 7.76%. The business’s revenue was up 22.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.16 earnings per share.

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

Several other equities analysts have also recently commented on the stock. TheStreet raised shares of MGM Resorts International from a “c+” rating to a “b” rating in a research note on Friday, April 28th. CLSA reissued an “outperform” rating on shares of MGM Resorts International in a research note on Friday, April 28th. Aegis reissued a “buy” rating and set a $35.00 target price (up previously from $33.00) on shares of MGM Resorts International in a research note on Saturday, April 29th. Instinet reissued a “buy” rating and set a $35.00 target price (up previously from $34.00) on shares of MGM Resorts International in a research note on Saturday, April 29th. Finally, Deutsche Bank AG raised their target price on shares of MGM Resorts International from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Two investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. MGM Resorts International currently has an average rating of “Buy” and an average target price of $33.87.

Shares of MGM Resorts International (NYSE MGM) opened at 32.61 on Friday. The stock has a market cap of $18.74 billion, a P/E ratio of 15.15 and a beta of 1.44. The company’s 50-day moving average is $31.62 and its 200-day moving average is $29.01. MGM Resorts International has a 12-month low of $21.31 and a 12-month high of $32.93. MGM Resorts International also was the recipient of some unusual options trading activity on Wednesday. Stock traders bought 30,697 call options on the stock. This is an increase of approximately 150% compared to the typical daily volume of 12,300 call options.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Friday, June 9th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.35%. The ex-dividend date was Wednesday, June 7th. MGM Resorts International’s dividend payout ratio is currently 20.37%.

In related news, Director William A. Bible sold 5,906 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $30.77, for a total transaction of $181,727.62. Following the completion of the sale, the director now directly owns 27,081 shares in the company, valued at $833,282.37. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Corey Ian Sanders sold 19,855 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $31.01, for a total transaction of $615,703.55. Following the sale, the insider now owns 185,558 shares of the company’s stock, valued at $5,754,153.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 83,070 shares of company stock valued at $2,591,372. 16.90% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in MGM Resorts International by 8.4% in the first quarter. Vanguard Group Inc. now owns 39,845,368 shares of the company’s stock valued at $1,091,763,000 after buying an additional 3,096,490 shares in the last quarter. Harris Associates L P boosted its stake in MGM Resorts International by 40.7% in the first quarter. Harris Associates L P now owns 23,573,669 shares of the company’s stock valued at $645,919,000 after buying an additional 6,814,070 shares in the last quarter. BlackRock Inc. boosted its stake in MGM Resorts International by 9,411.8% in the first quarter. BlackRock Inc. now owns 22,704,066 shares of the company’s stock valued at $622,092,000 after buying an additional 22,465,373 shares in the last quarter. Canyon Capital Advisors LLC boosted its stake in MGM Resorts International by 19.3% in the first quarter. Canyon Capital Advisors LLC now owns 17,818,760 shares of the company’s stock valued at $488,234,000 after buying an additional 2,877,500 shares in the last quarter. Finally, State Street Corp boosted its stake in MGM Resorts International by 5.9% in the first quarter. State Street Corp now owns 8,842,166 shares of the company’s stock valued at $242,281,000 after buying an additional 495,240 shares in the last quarter. Institutional investors and hedge funds own 73.85% of the company’s stock.

MGM Resorts International Company Profile

MGM Resorts International is a holding company. The Company, through its subsidiaries, owns and operates casino resorts. The Company operates in two segments: domestic resorts and MGM China. Its domestic resorts segment consists of non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities.

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