Shares of MGM Resorts International (NYSE:MGM) have been assigned a consensus recommendation of “Hold” from the thirteen ratings firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $33.78.
Several research analysts have weighed in on the company. Deutsche Bank reaffirmed a “hold” rating and set a $32.00 price target on shares of MGM Resorts International in a research report on Monday, March 25th. Zacks Investment Research lowered MGM Resorts International from a “hold” rating to a “strong sell” rating in a research report on Monday, February 18th. Credit Suisse Group reaffirmed a “neutral” rating and set a $30.00 price target on shares of MGM Resorts International in a research report on Wednesday, March 20th. Finally, Morgan Stanley boosted their price target on MGM Resorts International from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, February 14th.
In other MGM Resorts International news, Director Paul J. Salem bought 800,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were acquired at an average cost of $25.40 per share, with a total value of $20,320,000.00. Following the acquisition, the director now owns 800,000 shares of the company’s stock, valued at $20,320,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary Christine Gay bought 3,700 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average cost of $27.27 per share, for a total transaction of $100,899.00. Following the completion of the acquisition, the director now directly owns 18,036 shares in the company, valued at approximately $491,841.72. The disclosure for this purchase can be found here. 3.47% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of MGM. Neuberger Berman Group LLC increased its holdings in shares of MGM Resorts International by 47.8% during the 3rd quarter. Neuberger Berman Group LLC now owns 1,882,995 shares of the company’s stock worth $52,554,000 after acquiring an additional 608,562 shares during the last quarter. Federated Investors Inc. PA increased its holdings in shares of MGM Resorts International by 27.4% during the 3rd quarter. Federated Investors Inc. PA now owns 265,892 shares of the company’s stock worth $7,421,000 after acquiring an additional 57,232 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in MGM Resorts International by 5.1% in the 4th quarter. State of Alaska Department of Revenue now owns 117,037 shares of the company’s stock valued at $2,837,000 after buying an additional 5,629 shares in the last quarter. DNB Asset Management AS grew its holdings in MGM Resorts International by 4.4% in the 4th quarter. DNB Asset Management AS now owns 61,738 shares of the company’s stock valued at $1,498,000 after buying an additional 2,600 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in MGM Resorts International in the 4th quarter valued at $441,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.
NYSE MGM traded up $0.63 during trading on Thursday, hitting $25.98. The stock had a trading volume of 130,371 shares, compared to its average volume of 7,695,256. The stock has a market capitalization of $13.91 billion, a price-to-earnings ratio of 26.25, a PEG ratio of 3.23 and a beta of 1.37. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.78. MGM Resorts International has a 12 month low of $21.61 and a 12 month high of $32.88.
MGM Resorts International (NYSE:MGM) last released its earnings results on Monday, April 29th. The company reported $0.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.04). The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.12 billion. MGM Resorts International had a net margin of 2.26% and a return on equity of 4.03%. The company’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 EPS. On average, equities research analysts forecast that MGM Resorts International will post 0.97 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 10th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, June 7th. MGM Resorts International’s payout ratio is presently 52.53%.
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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