Analysts Set MGM Resorts International (NYSE:MGM) Price Target at $53.15

MGM Resorts International (NYSE:MGM) has been given a consensus rating of “Moderate Buy” by the fourteen brokerages that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $53.15.

A number of analysts have weighed in on MGM shares. Macquarie cut their target price on shares of MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. UBS Group raised shares of MGM Resorts International to a “hold” rating in a research note on Friday, August 23rd. Susquehanna raised their target price on MGM Resorts International from $54.00 to $55.00 and gave the stock a “positive” rating in a research report on Thursday, August 1st. Wells Fargo & Company cut their target price on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Finally, Mizuho decreased their price target on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st.

MGM Resorts International Price Performance

Shares of MGM stock opened at $37.52 on Tuesday. The business has a fifty day simple moving average of $38.39 and a 200 day simple moving average of $39.84. The company has a market cap of $11.17 billion, a P/E ratio of 13.40, a P/E/G ratio of 2.62 and a beta of 2.23. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. MGM Resorts International has a twelve month low of $33.44 and a twelve month high of $48.24.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). The company had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company posted $0.64 EPS. On average, sell-side analysts forecast that MGM Resorts International will post 2.5 EPS for the current fiscal year.

Insider Activity

In related news, Director Keith A. Meister sold 121,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the transaction, the director now directly owns 5,738,478 shares of the company’s stock, valued at approximately $210,716,912.16. This represents a 2.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.13% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MGM Resorts International

Hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new stake in MGM Resorts International in the 2nd quarter valued at $28,000. MidAtlantic Capital Management Inc. acquired a new position in shares of MGM Resorts International during the third quarter valued at about $28,000. Eastern Bank bought a new stake in shares of MGM Resorts International during the third quarter worth about $35,000. EverSource Wealth Advisors LLC raised its holdings in shares of MGM Resorts International by 60.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock worth $41,000 after acquiring an additional 329 shares during the last quarter. Finally, UMB Bank n.a. lifted its position in MGM Resorts International by 33.3% in the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after acquiring an additional 237 shares in the last quarter. Institutional investors and hedge funds 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.