The FY2018 Earnings Estimate for MGM Resorts International Issued By Credit Agricole SA (MGM)

The FY2018 Earnings Estimate for MGM Resorts International Issued By Credit Agricole SA (MGM)

MGM Resorts International (NYSE:MGM) – Analysts at Credit Agricole SA lifted their FY2018 earnings estimates for shares of MGM Resorts International in a research note issued to investors on Monday. Credit Agricole SA analyst J. Oh now forecasts that the brokerage will post earnings per share of $1.28 for the year, up from their previous estimate of $1.26. Credit Agricole SA has a “Overweight” rating and a $29.00 price target on the stock.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Thursday, August 4th. The company reported $0.26 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.02. MGM Resorts International had a negative net margin of 1.90% and a positive return on equity of 3.65%. The company earned $2.45 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same period in the previous year, the company earned $0.19 EPS. The company’s quarterly revenue was down 4.8% compared to the same quarter last year.

A number of other brokerages have also recently weighed in on MGM. Argus upgraded MGM Resorts International from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research report on Thursday. Goldman Sachs Group Inc. restated a “buy” rating on shares of MGM Resorts International in a research report on Wednesday. Nomura restated a “buy” rating and issued a $32.00 price target (up previously from $28.00) on shares of MGM Resorts International in a research report on Wednesday. Deutsche Bank AG restated a “buy” rating on shares of MGM Resorts International in a research report on Friday, September 16th. Finally, Stifel Nicolaus restated a “buy” rating on shares of MGM Resorts International in a research report on Friday, September 9th. One equities research analyst has rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. MGM Resorts International presently has an average rating of “Buy” and an average target price of C$28.17.

MGM Resorts International (NYSE:MGM) traded down 1.42% on Thursday, reaching $26.42. 3,767,315 shares of the company’s stock were exchanged. MGM Resorts International has a 1-year low of $16.18 and a 1-year high of $27.04. The company’s market capitalization is $14.94 billion. The company has a 50 day moving average price of $25.09 and a 200-day moving average price of $23.48.

A number of large investors have recently bought and sold shares of the company. Nomura Holdings Inc. acquired a new stake in MGM Resorts International during the second quarter valued at about $339,000. Schwab Charles Investment Management Inc. increased its stake in MGM Resorts International by 4.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 718,054 shares of the company’s stock valued at $16,250,000 after buying an additional 28,536 shares in the last quarter. Amalgamated Bank increased its stake in MGM Resorts International by 23.9% in the second quarter. Amalgamated Bank now owns 16,219 shares of the company’s stock valued at $404,000 after buying an additional 3,128 shares in the last quarter. Legal & General Group Plc increased its stake in MGM Resorts International by 1.9% in the second quarter. Legal & General Group Plc now owns 1,888,439 shares of the company’s stock valued at $42,733,000 after buying an additional 35,320 shares in the last quarter. Finally, GLG LLC increased its stake in MGM Resorts International by 1.7% in the second quarter. GLG LLC now owns 28,150 shares of the company’s stock valued at $637,000 after buying an additional 472 shares in the last quarter. Institutional investors own 71.23% of the company’s stock.

In other MGM Resorts International news, Director Alexis Herman sold 2,391 shares of MGM Resorts International stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of C$24.66, for a total transaction of C$58,962.06. Following the sale, the director now directly owns 24,511 shares in the company, valued at approximately C$604,441.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Corp Tracinda sold 4,000,000 shares of MGM Resorts International stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of C$100,000,000.00, for a total value of C$400,000,000,000,000.00. Following the sale, the insider now owns 87,173,744 shares in the company, valued at C$8,717,374,400,000,000. The disclosure for this sale can be found here. Company insiders own 16.90% of the company’s stock.

MGM Resorts International Company Profile

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