This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

MGM Resorts (MGM) Trails Markets on Earnings Miss

NEW YORK (TheStreet) -- MGM Resorts (MGM - Get Report) ended the day 6.1% lower at $19.04 after disappointing Wall Street with its third-quarter earnings.

An earnings loss of 7 cents missed analyst estimates by 4 cents, according to Thomson Reuters' surveys. Losses were narrower year on year, less than a loss of 37 cents a share in the third quarter 2012. MGM exceeded expectations on the top line with $2.46 billion in sales 9.2% higher than a year earlier.

"I am pleased to report another solid quarter with double-digit EBITDA growth and increased margins, led by strength at MGM China and our Las Vegas Strip properties," said CEO Jim Murren in a statement.

EBITDA increased 24% year on year, led by MGM China. The company's Las Vegas Strip properties also performed well with 12% growth in adjusted property EBITDA, the fourth consecutive quarter the segment has seen gains.

Must Read: Why Avon Products (AVP) Bombed Over 20% on Thursday

TheStreet Ratings team rates MGM RESORTS INTERNATIONAL as a Hold with a ratings score of C. The team has this to say about its recommendation:

"We rate MGM RESORTS INTERNATIONAL (MGM) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance and increase in net income. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk and disappointing return on equity."

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
MGM $22.96 1.28%
AAPL $118.88 0.96%
FB $105.74 -1.13%
GOOG $748.28 -1.02%
TSLA $218.25 0.23%


Chart of I:DJI
DOW 17,812.19 +19.51 0.11%
S&P 500 2,089.14 +2.55 0.12%
NASDAQ 5,102.8080 +0.33 0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs