MGM Resorts International (NYSE:MGM) Now Covered by Analysts at SunTrust Banks

SunTrust Banks started coverage on shares of MGM Resorts International (NYSE:MGM) in a research report report published on Friday morning, Benzinga reports. The firm issued a hold rating and a $35.00 target price on the stock.

Several other brokerages have also issued reports on MGM. Deutsche Bank set a $34.00 target price on MGM Resorts International and gave the company a hold rating in a research note on Tuesday, September 17th. ValuEngine cut MGM Resorts International from a buy rating to a hold rating in a research report on Thursday, August 15th. Roth Capital reiterated a buy rating on shares of MGM Resorts International in a research note on Thursday, October 31st. Nomura lifted their price objective on MGM Resorts International from $37.00 to $38.00 and gave the stock a buy rating in a report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. decreased their price objective on MGM Resorts International from $37.00 to $36.00 and set an overweight rating for the company in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $31.82.

MGM Resorts International stock opened at $32.17 on Friday. MGM Resorts International has a twelve month low of $21.61 and a twelve month high of $32.24. The firm has a 50 day moving average price of $30.34 and a 200-day moving average price of $28.58. The company has a market capitalization of $16.77 billion, a P/E ratio of 32.49, a P/E/G ratio of 5.30 and a beta of 1.52. The company has a quick ratio of 0.84, a current ratio of 0.87 and a debt-to-equity ratio of 1.47.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.37). MGM Resorts International had a return on equity of 4.10% and a net margin of 0.11%. The company had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same period last year, the firm posted $0.24 EPS. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. Equities analysts expect that MGM Resorts International will post 0.9 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Tuesday, December 10th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.52 dividend on an annualized basis and a yield of 1.62%. MGM Resorts International’s dividend payout ratio is 52.53%.

In related news, Director Rose Mckinney-James sold 2,670 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $28.15, for a total transaction of $75,160.50. Following the sale, the director now owns 4,616 shares of the company’s stock, valued at approximately $129,940.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Keith A. Meister acquired 295,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average cost of $32.04 per share, for a total transaction of $9,451,800.00. Insiders own 3.47% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Robeco Institutional Asset Management B.V. lifted its holdings in shares of MGM Resorts International by 94.3% in the second quarter. Robeco Institutional Asset Management B.V. now owns 25,671 shares of the company’s stock worth $734,000 after buying an additional 12,456 shares in the last quarter. Strs Ohio boosted its position in shares of MGM Resorts International by 21.8% in the second quarter. Strs Ohio now owns 71,358 shares of the company’s stock valued at $2,038,000 after acquiring an additional 12,781 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in MGM Resorts International during the second quarter valued at approximately $182,000. Trust Co. of Vermont purchased a new position in MGM Resorts International during the second quarter valued at approximately $43,000. Finally, Janney Montgomery Scott LLC grew its stake in MGM Resorts International by 57.5% during the second quarter. Janney Montgomery Scott LLC now owns 178,702 shares of the company’s stock valued at $5,106,000 after acquiring an additional 65,255 shares in the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

About MGM Resorts International

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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