Jefferies analyst forecast MGM Resorts’ full year EPS at -$0.36

Jefferies analyst in a report released on Thursday, September 10th. Jefferies Financial Group analyst D. Katz expects that the company will post earnings per share of ($0.36) for the year. Jefferies Financial Group has a “Hold” rating and a $17.00 price objective on the stock.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($1.52) EPS for the quarter, topping analysts’ consensus estimates of ($1.65) by $0.13. MGM Resorts International had a net margin of 21.28% and a negative return on equity of 6.64%. The firm had revenue of $289.81 million during the quarter, compared to analyst estimates of $442.57 million.

Several other analysts have also issued reports on MGM. Bank of America restated a “sell” rating and issued a $15.00 price target on shares of MGM Resorts International in a research report on Friday, August 7th. Credit Suisse Group raised their price target on shares of MGM Resorts International from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Wolfe Research lowered shares of MGM Resorts International from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, June 10th.

Zacks Investment Research lowered shares of MGM Resorts International from a “hold” rating to a “strong sell” rating and set a $14.00 price target on the stock. in a research report on Tuesday, July 21st. Finally, Cfra lowered shares of MGM Resorts International to a “sell” rating in a research report on Friday, July 31st. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $19.08.

NYSE:MGM opened at $22.73 on Friday. The company has a current ratio of 2.47, a quick ratio of 2.43 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $11.40 billion, a PE ratio of 5.98 and a beta of 2.39. The firm’s fifty day simple moving average is $20.30 and its 200 day simple moving average is $17.50. MGM Resorts International has a 1 year low of $5.90 and a 1 year high of $34.63.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Thursday, September 10th will be given a dividend of $0.0025 per share. This is a positive change from MGM Resorts International’s previous quarterly dividend of $0.00. This represents a $0.01 annualized dividend and a dividend yield of 0.04%. The ex-dividend date of this dividend is Wednesday, September 9th. MGM Resorts International’s payout ratio is 1.30%.

In related news, EVP John Mcmanus sold 30,000 shares of MGM Resorts International stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $21.23, for a total transaction of $636,900.00. Following the completion of the transaction, the executive vice president now directly owns 102,567 shares of the company’s stock, valued at approximately $2,177,497.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel J. Taylor sold 1,637 shares of MGM Resorts International stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $21.76, for a total transaction of $35,621.12. The disclosure for this sale can be found here. Insiders have sold a total of 51,637 shares of company stock valued at $1,129,321 over the last three months. 5.06% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the stock. Allworth Financial LP lifted its holdings in MGM Resorts International by 231.8% during the 2nd quarter. Allworth Financial LP now owns 1,659 shares of the company’s stock valued at $28,000 after purchasing an additional 1,159 shares during the last quarter. NuWave Investment Management LLC bought a new position in MGM Resorts International during the 2nd quarter valued at about $29,000.

WASHINGTON TRUST Co lifted its holdings in MGM Resorts International by 203.3% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,820 shares of the company’s stock valued at $30,000 after purchasing an additional 1,220 shares during the last quarter. Cornerstone Advisors Inc. lifted its holdings in MGM Resorts International by 347.8% during the 2nd quarter. Cornerstone Advisors Inc. now owns 2,015 shares of the company’s stock valued at $34,000 after purchasing an additional 1,565 shares during the last quarter. Finally, Modus Advisors LLC bought a new position in MGM Resorts International during the 2nd quarter valued at about $34,000. 66.23% of the stock is owned by hedge funds and other institutional investors.

About MGM Resorts International

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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