Seaport Res Ptn Has Negative Estimate for MGM Q4 Earnings

MGM Resorts International (NYSE:MGM) – Seaport Res Ptn reduced their Q4 2024 earnings per share (EPS) estimates for MGM Resorts International in a research note issued on Sunday, January 26th. Seaport Res Ptn analyst V. Umansky now expects that the company will earn $0.49 per share for the quarter, down from their previous estimate of $0.80. The consensus estimate for MGM Resorts International’s current full-year earnings is $2.41 per share. Seaport Res Ptn also issued estimates for MGM Resorts International’s FY2025 earnings at $2.33 EPS.

A number of other research analysts have also commented on the stock. Truist Financial lowered their price objective on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Jefferies Financial Group lowered their price target on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Wells Fargo & Company cut their price objective on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. Mizuho lowered their target price on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Finally, JMP Securities reiterated a “market outperform” rating and issued a $50.00 price target on shares of MGM Resorts International in a research report on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.93.

MGM Resorts International Stock Up 1.7 %

MGM stock opened at $34.60 on Wednesday. The firm’s 50-day moving average is $34.86 and its two-hundred day moving average is $37.48. The company has a market capitalization of $10.30 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 3.06 and a beta of 2.21. MGM Resorts International has a 52 week low of $31.61 and a 52 week high of $48.24. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.04). The company had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.64 EPS.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the completion of the sale, the director now directly owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.13% of the stock is owned by insiders.

Institutional Trading of MGM Resorts International

A number of hedge funds have recently made changes to their positions in MGM. MidAtlantic Capital Management Inc. purchased a new stake in MGM Resorts International in the 3rd quarter worth approximately $28,000. Global Trust Asset Management LLC purchased a new stake in shares of MGM Resorts International during the fourth quarter worth $28,000. Eastern Bank acquired a new stake in MGM Resorts International during the third quarter valued at $35,000. Brooklyn Investment Group purchased a new position in MGM Resorts International in the third quarter valued at about $44,000. Finally, Planning Capital Management Corp purchased a new stake in shares of MGM Resorts International during the 3rd quarter worth about $45,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

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.