MGM Resorts International (NYSE:MGM) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of MGM Resorts International (NYSE:MGM) have been assigned a consensus rating of “Moderate Buy” from the fifteen brokerages that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $52.36.

MGM has been the topic of several research reports. JMP Securities dropped their price target on MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating on the stock in a report on Monday, November 25th. Deutsche Bank Aktiengesellschaft reduced their target price on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Jefferies Financial Group dropped their price target on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Truist Financial reduced their price objective on shares of MGM Resorts International from $58.00 to $56.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Finally, Morgan Stanley lifted their target price on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the completion of the sale, the director now directly owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. The trade was a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.13% of the company’s stock.

Institutional Investors Weigh In On MGM Resorts International

Several institutional investors and hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC bought a new position in MGM Resorts International during the second quarter valued at about $28,000. MidAtlantic Capital Management Inc. bought a new stake in shares of MGM Resorts International during the 3rd quarter worth about $28,000. Eastern Bank acquired a new position in shares of MGM Resorts International during the 3rd quarter valued at about $35,000. Brooklyn Investment Group bought a new position in shares of MGM Resorts International in the 3rd quarter valued at approximately $44,000. Finally, Planning Capital Management Corp acquired a new stake in MGM Resorts International in the 3rd quarter worth approximately $45,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Price Performance

NYSE:MGM opened at $33.22 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. The business’s 50-day moving average price is $36.32 and its 200 day moving average price is $38.65. MGM Resorts International has a 52-week low of $33.09 and a 52-week high of $48.24. The firm has a market cap of $9.89 billion, a P/E ratio of 11.86, a PEG ratio of 3.10 and a beta of 2.21.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The business had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, sell-side analysts predict that MGM Resorts International will post 2.48 earnings per share for the current fiscal year.

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.