Movement Alert｜MGM Resorts International Falls 5.08% in Regular Trading, Earnings Preview and Target Price Cuts Weigh on Sentiment

Market Focus10-24

On October 24, MGM Resorts International fell 5.08% in Regular Trading, trading at $28.02 per share, with turnover of $77.00 million.

The clearest catalyst in public information is rising caution ahead of the company’s October 28 quarterly report, alongside a series of recent analyst target price cuts that have weighed on sentiment.

Current consensus points to quarterly revenue of $4.242 billion, up 0.26% year over year, while adjusted EPS is expected at $0.13, down 68.65% year over year. In the lead-up to the report, several firms reduced their targets, including Bank of America Securities to $35 from $40, Jefferies to $34 from $45, Citigroup to $32 from $48, and Susquehanna to $41 from $46. Supporting context is mixed: BetMGM reported 7% Q3 net revenue growth to $710 million and more than doubled adjusted EBITDA to $86 million, but management indicated full-year digital results are tracking toward the lower end of guidance.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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