MGM Resorts International (MGM) Receives $34.00 Consensus Price Target from Analysts

MGM Resorts International (NYSE:MGM) has been assigned an average rating of “Hold” from the fourteen brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $34.00.

MGM has been the topic of several analyst reports. Bank of America reiterated a “buy” rating and issued a $30.00 target price on shares of MGM Resorts International in a research note on Tuesday, October 16th. Morgan Stanley reiterated a “buy” rating on shares of MGM Resorts International in a research note on Monday, December 3rd. Finally, Sanford C. Bernstein initiated coverage on MGM Resorts International in a research note on Thursday, November 15th. They issued a “market perform” rating on the stock.

MGM opened at $28.00 on Friday. MGM Resorts International has a 1 year low of $21.61 and a 1 year high of $38.41. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.71 and a current ratio of 0.74. The stock has a market capitalization of $14.56 billion, a price-to-earnings ratio of 27.45, a P/E/G ratio of 3.21 and a beta of 1.29.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Tuesday, October 30th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.06. MGM Resorts International had a return on equity of 4.51% and a net margin of 16.75%. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same quarter in the previous year, the firm earned $0.34 earnings per share. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. Sell-side analysts predict that MGM Resorts International will post 1.08 EPS for the current fiscal year.

In other news, insider Phyllis James sold 15,815 shares of the business’s stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $28.26, for a total transaction of $446,931.90. Following the sale, the insider now owns 13,164 shares in the company, valued at $372,014.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.43% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of the company. Stratos Wealth Partners LTD. purchased a new stake in MGM Resorts International in the third quarter valued at approximately $102,000. Garner Asset Management Corp purchased a new stake in MGM Resorts International in the third quarter valued at approximately $151,000. Zeke Capital Advisors LLC purchased a new stake in MGM Resorts International in the third quarter valued at approximately $206,000. Dupont Capital Management Corp boosted its position in MGM Resorts International by 49.2% in the third quarter. Dupont Capital Management Corp now owns 7,809 shares of the company’s stock valued at $218,000 after buying an additional 2,576 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in MGM Resorts International in the second quarter valued at approximately $221,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

About MGM Resorts International

MGM Resorts International, through its subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts in the United States and China. The company operates through two segments, Domestic Resorts and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.

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Analyst Recommendations for MGM Resorts International (NYSE:MGM)

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