MGM Resorts International (NYSE:MGM – Get Free Report) has been given a consensus recommendation of “Hold” by the twenty-two analysts that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, nine have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $49.96.
Several research analysts have issued reports on the company. Weiss Ratings upgraded MGM Resorts International from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Bank of America began coverage on MGM Resorts International in a research report on Thursday, September 24th. They set a “neutral” rating and a $40.00 target price for the company. HSBC raised shares of MGM Resorts International to a “strong-buy” rating in a research note on Thursday, July 30th. Jefferies Financial Group reissued a “hold” rating on shares of MGM Resorts International in a research report on Thursday, July 2nd. Finally, The Goldman Sachs Group set a $30.00 price target on MGM Resorts International in a report on Tuesday.
View Our Latest Stock Analysis on MGM
MGM Resorts International Trading Up 1.9%
MGM stock opened at $29.52 on Tuesday. The firm has a market cap of $7.43 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 1.48 and a beta of 1.35. The firm has a fifty day moving average price of $38.07 and a 200 day moving average price of $41.15. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.30 and a current ratio of 1.34. MGM Resorts International has a fifty-two week low of $28.72 and a fifty-two week high of $51.59.
MGM Resorts International (NYSE:MGM – Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.03. The firm had revenue of $4.45 billion for the quarter, compared to analysts’ expectations of $4.42 billion. MGM Resorts International had a net margin of 2.40% and a return on equity of 23.30%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.79 EPS. Sell-side analysts anticipate that MGM Resorts International will post 1.95 earnings per share for the current fiscal year.
Institutional Investors Weigh In On MGM Resorts International
Several large investors have recently modified their holdings of MGM. International Assets Investment Management LLC bought a new position in shares of MGM Resorts International in the 1st quarter worth $30,000. Optiver Holding B.V. purchased a new position in shares of MGM Resorts International in the 1st quarter worth approximately $35,000. Versant Capital Management Inc raised its stake in shares of MGM Resorts International by 41.3% during the 3rd quarter. Versant Capital Management Inc now owns 1,437 shares of the company’s stock worth $45,000 after acquiring an additional 420 shares in the last quarter. Fiduciary Financial Advisors acquired a new stake in MGM Resorts International in the second quarter valued at approximately $48,000. Finally, Contravisory Investment Management Inc. purchased a new position in MGM Resorts International in the third quarter worth $50,000. Institutional investors own 68.11% of the company’s stock.
About MGM Resorts International
MGM Resorts International is a global hospitality and entertainment company that develops, owns and operates destination resorts with casinos, hotels, restaurants, retail, entertainment venues, meeting facilities and other leisure offerings. Its properties operate under brands including MGM Grand, Bellagio, ARIA, Mandalay Bay, The Cosmopolitan of Las Vegas, Park MGM, New York-New York and MGM National Harbor.
The company serves customers in Las Vegas and other U.S. markets, including regional destinations in Maryland, Massachusetts, Michigan, Mississippi, New Jersey, New York and Ohio.
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