MGM Resorts International (NYSE:MGM) Receives $52.85 Average Price Target from Analysts

MGM Resorts International (NYSE:MGM) has been given a consensus rating of “Moderate Buy” by the fourteen brokerages that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $52.54.

MGM has been the subject of several recent research reports. Morgan Stanley boosted their target price on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Barclays dropped their price objective on shares of MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday. Wells Fargo & Company decreased their target price on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. UBS Group upgraded MGM Resorts International to a “hold” rating in a research report on Friday, August 23rd. Finally, Mizuho reduced their price objective on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st.

MGM Resorts International Stock Down 1.5 %

NYSE:MGM opened at $36.25 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. The company has a market capitalization of $10.79 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 3.16 and a beta of 2.20. MGM Resorts International has a one year low of $33.44 and a one year high of $48.24. The stock has a 50-day simple moving average of $38.37 and a 200 day simple moving average of $39.36.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). The firm had revenue of $4.18 billion during 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%. MGM Resorts International’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 EPS. Sell-side analysts predict that MGM Resorts International will post 2.48 EPS for the current fiscal year.

Insider Activity at MGM Resorts International

In related news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction dated 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 transaction, the director now owns 5,687,478 shares in the company, valued at $207,991,070.46. This represents a 0.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.13% of the company’s stock.

Institutional Trading of MGM Resorts International

Institutional investors have recently made changes to their positions in the stock. UMB Bank n.a. raised its holdings in MGM Resorts International by 33.3% during the second quarter. UMB Bank n.a. now owns 949 shares of the company’s stock worth $42,000 after purchasing an additional 237 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of MGM Resorts International by 1.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 22,900 shares of the company’s stock valued at $1,018,000 after buying an additional 278 shares during the period. HB Wealth Management LLC boosted its stake in MGM Resorts International by 6.3% during the second quarter. HB Wealth Management LLC now owns 4,917 shares of the company’s stock valued at $219,000 after buying an additional 293 shares in the last quarter. Quent Capital LLC raised its position in MGM Resorts International by 14.6% in the third quarter. Quent Capital LLC now owns 2,383 shares of the company’s stock worth $93,000 after acquiring an additional 304 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of MGM Resorts International by 0.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,200 shares of the company’s stock valued at $2,080,000 after purchasing an additional 309 shares in the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

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.