MGM Resorts International (NYSE:MGM) – Research analysts at Jefferies Group upped their Q1 2018 EPS estimates for shares of MGM Resorts International in a note issued to investors on Wednesday. Jefferies Group analyst D. Katz now forecasts that the company will post earnings of $0.38 per share for the quarter, up from their previous forecast of $0.29. Jefferies Group currently has a “Buy” rating and a $43.00 target price on the stock. Jefferies Group also issued estimates for MGM Resorts International’s Q2 2018 earnings at $0.43 EPS, Q3 2018 earnings at $0.44 EPS and Q4 2018 earnings at $0.31 EPS.
Several other research analysts have also weighed in on MGM. Bank of America upped their price objective on shares of MGM Resorts International from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday. Stifel Nicolaus reiterated a “hold” rating and issued a $37.00 price objective (up previously from $36.00) on shares of MGM Resorts International in a research note on Wednesday. JPMorgan Chase & Co. increased their price target on shares of MGM Resorts International from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 1st. Zacks Investment Research upgraded shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Monday, February 5th. Finally, Nomura dropped their price target on shares of MGM Resorts International from $38.00 to $37.00 and set a “buy” rating on the stock in a research note on Wednesday, November 1st. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $37.38.
MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Tuesday, February 20th. The company reported $0.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.04. The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.51 billion. MGM Resorts International had a net margin of 17.92% and a return on equity of 5.98%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 EPS.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Friday, March 9th will be issued a dividend of $0.12 per share. This is an increase from MGM Resorts International’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Thursday, March 8th. MGM Resorts International’s dividend payout ratio is currently 12.94%.
In related news, insider Phyllis James sold 19,149 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $33.64, for a total transaction of $644,172.36. Following the completion of the sale, the insider now directly owns 8,961 shares of the company’s stock, valued at approximately $301,448.04. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Sean Charland acquired 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The shares were purchased at an average cost of $22.50 per share, with a total value of $562,500.00. Over the last ninety days, insiders have purchased 95,000 shares of company stock valued at $581,500. 12.20% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Asset Management One Co. Ltd. boosted its holdings in shares of MGM Resorts International by 5.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 712,424 shares of the company’s stock worth $23,209,000 after buying an additional 34,625 shares during the period. Cadence Capital Management LLC bought a new stake in shares of MGM Resorts International during the 3rd quarter worth $351,000. Highstreet Asset Management Inc. boosted its holdings in shares of MGM Resorts International by 62.0% during the 3rd quarter. Highstreet Asset Management Inc. now owns 22,951 shares of the company’s stock worth $748,000 after buying an additional 8,785 shares during the period. Arrow Investment Advisors LLC bought a new stake in shares of MGM Resorts International during the 3rd quarter worth $479,000. Finally, Oxbow Advisors LLC bought a new stake in shares of MGM Resorts International during the 3rd quarter worth $952,000. 82.31% of the stock is owned by institutional investors and hedge funds.
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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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