MGM Resorts International (NYSE: MGM) has reported E.P.S. of $0.68 for its first fiscal quarter (ending March 31) versus $1.25 for the same period a year ago — a decline of -46%. However, this result exceeded the consensus estimate of $0.64 by $0.04. E.P.S. were $2.63 for the latest four quarters through March 31 versus $4.73 for the same period a year ago — a decline of -44%.
Recent Price Action
On 5/1/24, MGM Resorts International (NYSE: MGM) stock rose modestly by 0.8%, closing at $39.75. Moreover, exceptionally high trading volume at 224% of normal accompanied the advance. The stock has performed in line with the market over the last nine months and has declined -7.2% during the last week.
Current PriceTarget Research Rating
MGM’s future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be a major Value Builder.
MGM Resorts has a current Value Trend Rating of C (Low Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing highly consistent signals. MGM Resorts has a neutral Power Rating of 49 and a neutral Appreciation Score of 43, leading to the Low Neutral Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
Be the first to comment