More notable recent MGM Resorts International (NYSE:MGM) news were published by: Seekingalpha.com which released: "MGM Resorts perky into analyst day event" on May 10, 2018, also Seekingalpha.com with their article: "MGM Resorts fires off new $2B buyback plan" published on May 11, 2018, Seekingalpha.com published: "MGM Resorts falls after USA business disappoints" on April 26, 2018. MGM Resorts International reported sales of $2.64 billion in the same quarter last year, which indicates a positive year over year growth rate of 14%. The business is scheduled to report its next quarterly earnings report before the market opens on Thursday, April 26th. During the same quarter in the previous year, the firm earned $0.11 earnings per share. equities research analysts predict that MGM Resorts International will post 1.41 earnings per share for the current year. The titles are as follows: "MGM Resorts falls after United States business disappoints" posted on April 26, 2018, "MGM Resorts perky into analyst day event" on May 10, 2018, "Verizon Could Go To $50-51 - Cramer's Lightning Round (5/10/18)" with a publish date: May 11, 2018, "7 Hotel Stocks to Buy Ranked From Best to Worst" and the last "MGM Resorts fires off new $2B buyback plan" with publication date: May 11, 2018.
MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Tuesday, February 20th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.04. MGM Resorts International had a net margin of 17.88% and a return on equity of 5.45%. The business had revenue of $2.82 billion during the quarter, compared to analysts' expectations of $2.82 billion. BlackRock Inc. now owns 35,609,163 shares of the company's stock valued at $1,188,991,000 after buying an additional 5,897,782 shares in the last quarter. ValuEngine upgraded MGM Resorts International from a "hold" rating to a "buy" rating in a research note on Wednesday, April 18th. The MGM Resorts International has shown a five days performance of 6.68% and thirty days performance stands at -0.92%. UBS upgraded MGM Resorts International from a "neutral" rating to a "positive" rating in a research note on Monday, April 23rd. Jefferies maintained MGM Resorts International (NYSE:MGM) rating on Monday, May 7.
In other MGM Resorts International news, President William Hornbuckle sold 60,000 shares of the company's stock in a transaction on Friday, March 9th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock.
Shares of NYSE:MGM traded down $1.01 on Wednesday, hitting $31.28. The company's stock had a trading volume of 16,831,220 shares, compared to its average volume of 8,985,910. MGM Resorts International has a 52-week low of $29.32 and a 52-week high of $38.41. The company has a market capitalization of $20,117.37, a P/E ratio of 34.64, a price-to-earnings-growth ratio of 1.89 and a beta of 1.40. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.77 and a quick ratio of 0.73.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Friday, June 8th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, June 7th. It has change of 0.58, from 2017Q3's 1.53. MGM Resorts International's payout ratio is 47.06%. Also, CFO Daniel D'arrigo sold 36,366 shares of the business's stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $34.67, for a total transaction of $434,623.12. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Telsey Advisory Group initiated coverage on shares of MGM Resorts International in a research report on Wednesday, March 14th.
The stock exchanged hands with 11600146 numbers of shares contrast to its average daily volume of 9.02M shares. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 46,000 shares of company stock valued at $49,000 and have sold 142,646 shares valued at $5,104,710.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Finally, Fox Run Management L.L.C. purchased a new stake in shares of MGM Resorts International during the fourth quarter worth approximately $604,000. Millennium Management LLC lifted its holdings in MGM Resorts International by 248.2% in the fourth quarter. Millennium Management LLC now owns 2,458,545 shares of the company's stock valued at $82,091,000 after acquiring an additional 1,752,560 shares during the last quarter. For a total of 446,300 shares it increased its holding in Nexstar Media Group Inc (NASDAQ:NXST) by 118,764 shares in the quarter, and has risen its stake in. Parametric Portfolio Associates LLC raised its stake in shares of MGM Resorts International by 17.5% during the third quarter. Finally, Carillon Tower Advisers Inc. acquired a new stake in MGM Resorts International during the 4th quarter valued at approximately $37,539,000. Institutional ownership refers to the ownership stake in a company that is held by large financial organizations, pension funds or endowments.
Earlier this week the company announced a $550m upgrade and rebrand of the former Monte Carlo casino resort in Las Vegas that will see the property renamed Park MGM. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.