MGM Resorts International (NYSE:MGM) Receives Consensus Rating of “Hold” from Brokerages

MGM Resorts International (NYSE:MGM) has been assigned an average rating of “Hold” from the thirteen analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $31.11.

Several analysts have recently issued reports on the stock. Citigroup assumed coverage on shares of MGM Resorts International in a research note on Wednesday, July 24th. They issued a $23.00 target price for the company. UBS Group upped their target price on shares of MGM Resorts International from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday. Argus upped their target price on shares of MGM Resorts International to $35.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Susquehanna Bancshares initiated coverage on shares of MGM Resorts International in a research note on Wednesday, July 24th. They issued a “negative” rating and a $23.00 target price for the company. Finally, ValuEngine lowered shares of MGM Resorts International from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th.

Shares of NYSE MGM traded down $0.73 during trading on Friday, hitting $27.78. The stock had a trading volume of 4,270,945 shares, compared to its average volume of 5,207,291. MGM Resorts International has a 12 month low of $21.61 and a 12 month high of $31.68. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.73 and a quick ratio of 0.69. The company has a market capitalization of $14.87 billion, a PE ratio of 28.06, a PEG ratio of 4.23 and a beta of 1.42. The firm has a fifty day moving average of $28.98 and a two-hundred day moving average of $27.49.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Thursday, July 25th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.02). MGM Resorts International had a return on equity of 3.77% and a net margin of 1.56%. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.21 billion. During the same quarter in the previous year, the company earned $0.26 EPS. The business’s revenue was up 12.7% compared to the same quarter last year. On average, equities analysts expect that MGM Resorts International will post 0.84 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 10th will be given a dividend of $0.13 per share. The ex-dividend date is Monday, September 9th. This represents a $0.52 annualized dividend and a yield of 1.87%. MGM Resorts International’s payout ratio is currently 52.53%.

In other MGM Resorts International news, Director Keith A. Meister bought 209,136 shares of the business’s stock in a transaction on Thursday, June 27th. The stock was purchased at an average price of $27.99 per share, for a total transaction of $5,853,716.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Keith A. Meister bought 1,139,138 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were acquired at an average price of $25.82 per share, with a total value of $29,412,543.16. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 5,317,360 shares of company stock valued at $140,880,100. 3.47% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the business. Geode Capital Management LLC increased its holdings in shares of MGM Resorts International by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 6,387,824 shares of the company’s stock valued at $154,688,000 after buying an additional 366,980 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of MGM Resorts International by 16.5% in the first quarter. Nisa Investment Advisors LLC now owns 55,639 shares of the company’s stock valued at $1,428,000 after buying an additional 7,900 shares in the last quarter. Strs Ohio increased its holdings in shares of MGM Resorts International by 5.9% in the first quarter. Strs Ohio now owns 58,577 shares of the company’s stock valued at $1,503,000 after buying an additional 3,268 shares in the last quarter. Conning Inc. bought a new position in shares of MGM Resorts International in the first quarter valued at $212,000. Finally, Investors Research Corp bought a new position in shares of MGM Resorts International in the first quarter valued at $44,000. Hedge funds and other institutional investors own 81.27% of the company’s stock.

MGM Resorts International Company Profile

MGM Resorts International, through its subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts in the United States and Macau. 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.

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Analyst Recommendations for MGM Resorts International (NYSE:MGM)

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