MGM Resorts International reports results for the quarter ended June 30 - Earnings Summary

• MGM Resorts International MGM.N reported quarterly adjusted earnings of 79 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of 86 cents. The mean expectation of seventeen analysts for the quarter was for earnings of 53 cents per share. Wall Street expected results to range from 39 cents to 79 cents per share.

• Revenue rose 1.8% to $4.40 billion from a year ago; analysts expected $4.32 billion.

• MGM Resorts International's reported EPS for the quarter was 18 cents​.

• The company reported quarterly net income of $48.95 million.

• MGM Resorts International shares had risen by 8.8% this quarter and gained 8.0% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 0.7% in the last three months.​

• In the last 30 days, three analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy," 8 "hold" and 1 "sell" or "strong sell." The average consensus recommendation for the casinos & gaming peer group is also "buy"

• Wall Street's median 12-month price target for MGM Resorts International is $48.00, about 21.1% above its last closing price of $37.88

This summary was machine generated from LSEG data July 30 at 09:01 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)