MGM Resorts International
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), MGM Resorts International met expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue increased slightly and GAAP loss per share expanded.
Margins dropped across the board.
MGM Resorts International reported revenue of $2.25 billion. The 21 analysts polled by S&P Capital IQ foresaw revenue of $2.28 billion on the same basis. GAAP reported sales were 1.0% higher than the prior-year quarter's $2.23 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.23. The 23 earnings estimates compiled by S&P Capital IQ anticipated -$0.16 per share. GAAP EPS were -$0.37 for Q3 compared to -$0.25 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 35.1%, 30 basis points worse than the prior-year quarter. Operating margin was 8.0%, 70 basis points worse than the prior-year quarter. Net margin was -8.0%, 250 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $2.30 billion. On the bottom line, the average EPS estimate is -$0.21.
Next year's average estimate for revenue is $9.17 billion. The average EPS estimate is -$0.77.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 1,135 members out of 1,370 rating the stock outperform, and 235 members rating it underperform. Among 291 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 236 give MGM Resorts International a green thumbs-up, and 55 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on MGM Resorts International is outperform, with an average price target of $13.17.
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