MGM Resorts International (NYSE:MGM) Receives Market Outperform Rating from JMP Securities

MGM Resorts International (NYSE:MGM)‘s stock had its “market outperform” rating reaffirmed by investment analysts at JMP Securities in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $50.00 price target on the stock. JMP Securities’ price target indicates a potential upside of 52.20% from the stock’s previous close.

A number of other equities research analysts have also recently commented on MGM. Mizuho decreased their price objective 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. Truist Financial lowered their price target on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday. Wells Fargo & Company reduced their price objective 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. Morgan Stanley upped their target price on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Finally, Jefferies Financial Group reduced their price target on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, MGM Resorts International has an average rating of “Moderate Buy” and a consensus target price of $51.93.

MGM Resorts International Stock Performance

Shares of NYSE:MGM opened at $32.85 on Thursday. 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 has a 1-year low of $31.61 and a 1-year high of $48.24. The stock has a market capitalization of $9.78 billion, a P/E ratio of 11.73, a P/E/G ratio of 3.04 and a beta of 2.21. The business has a 50-day moving average price of $35.57 and a two-hundred day moving average price of $38.14.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data 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). MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The business had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the prior year, the company earned $0.64 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. Equities analysts predict that MGM Resorts International will post 2.43 earnings per share for the current year.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the sale, the director now owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. The trade was a 0.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.13% of the stock is owned by insiders.

Hedge Funds Weigh In On MGM Resorts International

Several hedge funds have recently made changes to their positions in the business. MidAtlantic Capital Management Inc. acquired a new position in MGM Resorts International during the third quarter worth $28,000. Global Trust Asset Management LLC acquired a new position in shares of MGM Resorts International during the 4th quarter worth about $28,000. Eastern Bank acquired a new position in shares of MGM Resorts International during the 3rd quarter worth about $35,000. Brooklyn Investment Group bought a new position in shares of MGM Resorts International in the 3rd quarter valued at about $44,000. Finally, Planning Capital Management Corp bought a new stake in MGM Resorts International during the third quarter worth about $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.