MGM Resorts International (NYSE:MGM) Receives Average Recommendation of “Moderate Buy” from Brokerages

MGM Resorts International (NYSE:MGM) has earned a consensus rating of “Moderate Buy” from the fifteen brokerages that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $52.36.

A number of research firms have recently commented on MGM. Morgan Stanley boosted their target price on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company lowered their target price on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Jefferies Financial Group reduced their price target on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Mizuho dropped their price objective on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft cut their target price on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st.

MGM Resorts International Stock Down 2.1 %

Shares of MGM Resorts International stock opened at $33.22 on Wednesday. MGM Resorts International has a twelve month low of $33.09 and a twelve month high of $48.24. The stock has a market cap of $9.89 billion, a price-to-earnings ratio of 11.86, a price-to-earnings-growth ratio of 3.10 and a beta of 2.21. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. The company has a fifty day moving average price of $36.32 and a 200 day moving average price of $38.65.

MGM Resorts International (NYSE:MGM) last issued 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 company had revenue of $4.18 billion during the quarter, compared to analysts’ expectations of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. MGM Resorts International’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.64 EPS. Equities research analysts forecast that MGM Resorts International will post 2.48 earnings per share for the current fiscal year.

Insider Activity at MGM Resorts International

In related news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction dated 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 $207,991,070.46. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.13% of the company’s stock.

Hedge Funds Weigh In On MGM Resorts International

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC bought a new position in shares of MGM Resorts International in the second quarter worth $28,000. MidAtlantic Capital Management Inc. bought a new position in MGM Resorts International in the 3rd quarter valued at about $28,000. Eastern Bank acquired a new position in MGM Resorts International during the 3rd quarter valued at about $35,000. Brooklyn Investment Group bought a new stake in shares of MGM Resorts International during the 3rd quarter worth about $44,000. Finally, Planning Capital Management Corp acquired a new stake in shares of MGM Resorts International in the 3rd quarter worth approximately $45,000. 68.11% of the stock is owned by institutional investors.

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.