MGM Resorts International (NYSE:MGM) had its price target raised by Stifel Nicolaus from $36.00 to $37.00 in a research report issued on Wednesday. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 6.60% from the stock’s current price.
Several other research firms also recently commented on MGM. Jefferies Group began coverage on shares of MGM Resorts International in a research report on Thursday, January 18th. They issued a “buy” rating and a $43.00 target price for the company. Zacks Investment Research raised shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Monday, February 5th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $44.00 target price (up from $41.00) on shares of MGM Resorts International in a research report on Tuesday, January 9th. Nomura decreased their target price on shares of MGM Resorts International from $38.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday, November 1st. Finally, Roth Capital began coverage on shares of MGM Resorts International in a research report on Wednesday, October 25th. They issued a “buy” rating and a $38.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. MGM Resorts International presently has a consensus rating of “Buy” and a consensus price target of $37.44.
MGM Resorts International (MGM) opened at $34.71 on Wednesday. MGM Resorts International has a 1 year low of $25.15 and a 1 year high of $38.41. The company has a market cap of $19,514.78, a P/E ratio of 34.03, a P/E/G ratio of 6.06 and a beta of 1.44. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 1.26.
MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Tuesday, February 20th. The company reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.02. MGM Resorts International had a net margin of 5.44% and a return on equity of 6.47%. The firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same period in the previous year, the firm posted $0.11 earnings per share. The firm’s revenue was up 5.5% on a year-over-year basis. equities analysts anticipate that MGM Resorts International will post 1.09 EPS for the current fiscal year.
In other news, Director Sean Charland acquired 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The stock was acquired at an average cost of $22.50 per share, with a total value of $562,500.00. Also, insider Phyllis James sold 19,149 shares of the company’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $33.64, for a total transaction of $644,172.36. Following the sale, the insider now directly owns 8,961 shares of the company’s stock, valued at $301,448.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 95,000 shares of company stock valued at $581,500. 12.20% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cerebellum GP LLC bought a new stake in shares of MGM Resorts International during the 4th quarter worth $126,000. Sun Life Financial INC bought a new stake in shares of MGM Resorts International during the 3rd quarter worth $124,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of MGM Resorts International by 88.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,945 shares of the company’s stock worth $165,000 after buying an additional 2,318 shares during the period. Toronto Dominion Bank boosted its holdings in shares of MGM Resorts International by 12.4% during the 2nd quarter. Toronto Dominion Bank now owns 5,644 shares of the company’s stock worth $177,000 after buying an additional 624 shares during the period. Finally, Spirit of America Management Corp NY raised its stake in MGM Resorts International by 78.1% during the 4th quarter. Spirit of America Management Corp NY now owns 5,700 shares of the company’s stock valued at $190,000 after purchasing an additional 2,500 shares during the last quarter. 82.31% of the stock is owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY WARNING: This story was first published by Stock Observer and is the property of of Stock Observer. If you are accessing this story on another website, it was copied illegally and republished in violation of US & international copyright laws. The original version of this story can be read at https://www.thestockobserver.com/2018/02/21/mgm-resorts-international-mgm-price-target-raised-to-37-00-at-stifel-nicolaus.html.
MGM Resorts International Company Profile
MGM Resorts International is a holding company. The Company, through its subsidiaries, owns and operates casino resorts. The Company operates in two segments: domestic resorts and MGM China. Its domestic resorts segment consists of non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities.
Receive News & Ratings for MGM Resorts International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGM Resorts International and related companies with MarketBeat.com's FREE daily email newsletter.