MGM Resorts International (NYSE:MGM) Receives $53.15 Average Target Price from Analysts

Shares of MGM Resorts International (NYSE:MGM) have earned a consensus rating of “Moderate Buy” from the fourteen brokerages that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $53.15.

A number of analysts recently weighed in on the company. Truist Financial decreased their price objective on MGM Resorts International from $58.00 to $56.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. JMP Securities decreased their price objective on MGM Resorts International from $56.00 to $54.00 and set a “market outperform” rating for the company in a report on Thursday, October 31st. Wells Fargo & Company decreased their price objective on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. Barclays decreased their price objective on MGM Resorts International from $54.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Finally, Stifel Nicolaus upped their price target on shares of MGM Resorts International from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, August 1st.

MGM Resorts International Stock Down 0.6 %

Shares of NYSE:MGM opened at $37.28 on Tuesday. The company has a fifty day moving average of $38.44 and a 200-day moving average of $39.82. The company has a market capitalization of $11.10 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 2.71 and a beta of 2.23. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. MGM Resorts International has a 52-week low of $33.44 and a 52-week high of $48.24.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.04). The company had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company posted $0.64 earnings per share. On average, equities analysts predict that MGM Resorts International will post 2.5 EPS for the current fiscal year.

Insider Transactions at MGM Resorts International

In related news, Director Keith A. Meister sold 121,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $36.72, for a total value of $4,443,120.00. Following the sale, the director now owns 5,738,478 shares in the company, valued at $210,716,912.16. This represents a 2.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.13% of the company’s stock.

Institutional Investors Weigh In On MGM Resorts International

Institutional investors and hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC acquired a new stake in shares of MGM Resorts International in the 2nd quarter worth about $28,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of MGM Resorts International in the 3rd quarter worth about $28,000. EverSource Wealth Advisors LLC increased its stake in MGM Resorts International by 60.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock valued at $41,000 after buying an additional 329 shares during the last quarter. Eastern Bank purchased a new stake in MGM Resorts International in the 3rd quarter valued at about $35,000. Finally, UMB Bank n.a. increased its stake in MGM Resorts International by 33.3% in the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after buying an additional 237 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Company Profile

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and internationally. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.