MGM Resorts International (NYSE:MGM) Receives $52.54 Consensus Target Price from Analysts

Shares of MGM Resorts International (NYSE:MGM) have been given an average recommendation of “Moderate Buy” by the fifteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $52.36.

MGM has been the subject of several recent research reports. Truist Financial dropped their price target on shares of MGM Resorts International from $58.00 to $56.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Barclays cut their target price on MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating for the company in a research report on Friday, December 13th. Wells Fargo & Company reduced their target price on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Jefferies Financial Group decreased their price target on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday. Finally, JMP Securities lowered their target price on MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating for the company in a research note on Monday, November 25th.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction on 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 sale, the director now directly owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. This trade represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.13% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MGM Resorts International

Several institutional investors and hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in MGM Resorts International during the 2nd quarter worth approximately $28,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of MGM Resorts International during the third quarter worth $28,000. Eastern Bank bought a new stake in MGM Resorts International in the 3rd quarter valued at $35,000. Ashton Thomas Private Wealth LLC acquired a new position in MGM Resorts International in the 2nd quarter worth $49,000. Finally, Brooklyn Investment Group bought a new position in MGM Resorts International during the 3rd quarter worth about $44,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Price Performance

Shares of MGM stock opened at $34.09 on Wednesday. MGM Resorts International has a 12 month low of $33.28 and a 12 month high of $48.24. The company has a market capitalization of $10.15 billion, a P/E ratio of 12.18, a P/E/G ratio of 3.10 and a beta of 2.21. The stock has a 50 day moving average of $36.65 and a two-hundred day moving average of $38.76. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63.

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). MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The firm had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same period last year, the business earned $0.64 earnings per share. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, equities analysts expect that MGM Resorts International will post 2.48 EPS for the current year.

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.