MGM Resorts International (NYSE:MGM) Receives $53.15 Average Price Target from Analysts

Shares of MGM Resorts International (NYSE:MGM) have been given a consensus recommendation of “Moderate Buy” by the fourteen ratings firms that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $53.15.

MGM has been the topic of several analyst reports. Susquehanna lifted their price target on shares of MGM Resorts International from $54.00 to $55.00 and gave the stock a “positive” rating in a research note on Thursday, August 1st. Macquarie cut their price target on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Stifel Nicolaus raised their price objective on MGM Resorts International from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. JMP Securities cut their price objective on MGM Resorts International from $56.00 to $54.00 and set a “market outperform” rating for the company in a research note on Thursday, October 31st. Finally, Morgan Stanley raised 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 note on Tuesday, October 22nd.

MGM Resorts International Stock Performance

Shares of MGM opened at $37.15 on Tuesday. The firm has a market capitalization of $11.06 billion, a P/E ratio of 13.27, a PEG ratio of 2.66 and a beta of 2.23. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. MGM Resorts International has a one year low of $33.44 and a one year high of $48.24. The business has a fifty day moving average of $38.48 and a 200 day moving average of $39.79.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). The firm had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 earnings per share. As a group, sell-side analysts anticipate that MGM Resorts International will post 2.5 EPS for the current year.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the completion of the transaction, the director now owns 5,738,478 shares in the company, valued at $210,716,912.16. This trade represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.13% of the company’s stock.

Institutional Investors Weigh In On MGM Resorts International

Large investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new position in shares of MGM Resorts International in the 2nd quarter worth approximately $28,000. MidAtlantic Capital Management Inc. purchased a new position in MGM Resorts International during the third quarter worth $28,000. Eastern Bank purchased a new stake in shares of MGM Resorts International in the third quarter valued at $35,000. EverSource Wealth Advisors LLC lifted its holdings in shares of MGM Resorts International by 60.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock worth $41,000 after acquiring an additional 329 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of MGM Resorts International by 33.3% during the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock worth $42,000 after purchasing an additional 237 shares during the period. 68.11% of the stock is owned by institutional investors.

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.