MGM Resorts International (NYSE:MGM) – Equities research analysts at Credit Agricole SA increased their FY2016 earnings per share estimates for shares of MGM Resorts International in a research report issued to clients and investors on Tuesday. Credit Agricole SA analyst J. Oh now forecasts that the firm will earn $1.77 per share for the year, up from their prior estimate of $0.53. Credit Agricole SA has a “Outperform” rating and a $30.00 price objective on the stock. Credit Agricole SA also issued estimates for MGM Resorts International’s FY2017 earnings at $1.23 EPS.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Monday, November 7th. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.47. The business earned $2.52 billion during the quarter, compared to analyst estimates of $2.37 billion. MGM Resorts International had a net margin of 3.15% and a return on equity of 6.45%. MGM Resorts International’s revenue was up 10.3% compared to the same quarter last year. During the same period last year, the business earned $0.15 EPS.

Earnings History and Estimates for MGM Resorts International (NYSE:MGM)

A number of other research analysts have also recently commented on MGM. Telsey Advisory Group upped their price target on shares of MGM Resorts International from $29.00 to $33.00 and gave the stock an “outperform” rating in a report on Tuesday, November 8th. Macquarie reaffirmed an “outperform” rating and issued a $34.00 price objective on shares of MGM Resorts International in a research note on Thursday. Stifel Nicolaus upped their price objective on shares of MGM Resorts International from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, November 8th. TheStreet raised shares of MGM Resorts International from a “hold” rating to a “buy” rating in a research note on Monday, November 7th. Finally, Barclays PLC set a $32.00 price objective on shares of MGM Resorts International and gave the stock a “buy” rating in a research note on Wednesday. Twenty-three analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. MGM Resorts International has a consensus rating of “Buy” and an average price target of C$30.63.

Shares of MGM Resorts International (NYSE:MGM) opened at 27.50 on Friday. The company has a market capitalization of $15.75 billion, a price-to-earnings ratio of 52.78 and a beta of 1.79. The firm’s 50-day moving average is $26.36 and its 200-day moving average is $24.28. MGM Resorts International has a 1-year low of $16.18 and a 1-year high of $28.80.

In related news, EVP John Mcmanus sold 12,363 shares of the stock in a transaction that occurred on Wednesday, August 31st. The shares were sold at an average price of C$24.44, for a total value of C$302,151.72. Following the transaction, the executive vice president now owns 40,071 shares in the company, valued at approximately C$979,335.24. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO James Murren sold 90,525 shares of the stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of C$27.99, for a total transaction of C$2,533,794.75. Following the completion of the transaction, the chief executive officer now owns 1,171,984 shares in the company, valued at approximately C$32,803,832.16. The disclosure for this sale can be found here. 16.90% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of MGM Resorts International by 7.4% in the second quarter. Vanguard Group Inc. now owns 34,658,063 shares of the company’s stock valued at $784,311,000 after buying an additional 2,386,562 shares during the period. Capital World Investors increased its position in shares of MGM Resorts International by 9.7% in the second quarter. Capital World Investors now owns 24,427,302 shares of the company’s stock valued at $552,790,000 after buying an additional 2,150,087 shares during the period. Canyon Capital Advisors LLC increased its position in shares of MGM Resorts International by 2.2% in the second quarter. Canyon Capital Advisors LLC now owns 17,411,736 shares of the company’s stock valued at $394,028,000 after buying an additional 369,432 shares during the period. Harris Associates L P increased its position in shares of MGM Resorts International by 1,525.9% in the third quarter. Harris Associates L P now owns 16,243,974 shares of the company’s stock valued at $422,830,000 after buying an additional 15,244,874 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its position in shares of MGM Resorts International by 3.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 11,674,136 shares of the company’s stock valued at $303,878,000 after buying an additional 363,312 shares during the period. Institutional investors own 71.14% of the company’s stock.

About MGM Resorts International

MGM Resorts International is a holding company. The Company owns and operates casino resorts. It operates in two segments: wholly owned domestic resorts and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail and other resort amenities. It has additional business activities, including its investments in unconsolidated affiliates, and other corporate and management operations.

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