MGM Resorts International (NYSE:MGM) Price Target Cut to $50.00 by Analysts at Jefferies Financial Group

MGM Resorts International (NYSE:MGM) had its price target trimmed by Jefferies Financial Group from $52.00 to $50.00 in a research note published on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts also recently commented on MGM. Morgan Stanley lifted their price objective on MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company lowered their price objective on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lowered their price objective on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. JMP Securities lowered their price target on MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating for the company in a report on Monday, November 25th. Finally, Truist Financial lowered their price objective on MGM Resorts International from $58.00 to $56.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.36.

MGM Resorts International Price Performance

Shares of NYSE MGM opened at $34.09 on Friday. MGM Resorts International has a one year low of $33.28 and a one year high of $48.24. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. The firm has a market capitalization of $10.15 billion, a P/E ratio of 12.18, a PEG ratio of 3.10 and a beta of 2.20. The company’s fifty day moving average is $36.65 and its two-hundred day moving average is $38.79.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.04). The business had revenue of $4.18 billion for the quarter, compared to analysts’ expectations of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 earnings per share. Analysts forecast that MGM Resorts International will post 2.48 EPS for the current fiscal year.

Insider Transactions at MGM Resorts International

In related news, Director Keith A. Meister sold 51,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the completion of 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 can be accessed through the SEC website. 2.13% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MGM Resorts International

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

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.