MGM Resorts International (NYSE:MGM) Given Consensus Rating of “Hold” by Brokerages

MGM Resorts International (NYSE:MGM) has earned a consensus recommendation of “Hold” from the twenty ratings firms that are covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $41.9375.

Several brokerages recently issued reports on MGM. Zacks Research raised shares of MGM Resorts International from a “strong sell” rating to a “hold” rating in a report on Monday, December 22nd. Morgan Stanley reaffirmed an “underweight” rating and set a $34.00 target price on shares of MGM Resorts International in a research report on Wednesday, February 11th. Stifel Nicolaus lifted their price target on MGM Resorts International from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, February 6th. UBS Group reduced their price target on MGM Resorts International from $39.00 to $37.00 and set a “neutral” rating for the company in a research report on Monday, November 17th. Finally, JPMorgan Chase & Co. upped their price objective on MGM Resorts International from $39.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday, February 6th.

Institutional Investors Weigh In On MGM Resorts International

Several institutional investors have recently added to or reduced their stakes in MGM. Global Retirement Partners LLC increased its position in MGM Resorts International by 55.9% during the fourth quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock worth $29,000 after buying an additional 281 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in MGM Resorts International by 4.2% during the fourth quarter. Asset Management One Co. Ltd. now owns 7,700 shares of the company’s stock valued at $286,000 after buying an additional 313 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of MGM Resorts International by 0.8% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 39,763 shares of the company’s stock worth $1,378,000 after buying an additional 328 shares during the last quarter. Brown Brothers Harriman & Co. boosted its stake in shares of MGM Resorts International by 23.1% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,893 shares of the company’s stock worth $69,000 after acquiring an additional 355 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of MGM Resorts International by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 64,006 shares of the company’s stock worth $2,218,000 after acquiring an additional 397 shares in the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Trading Down 2.6%

MGM stock opened at $34.66 on Monday. The company has a quick ratio of 1.20, a current ratio of 1.23 and a debt-to-equity ratio of 1.91. MGM Resorts International has a twelve month low of $25.30 and a twelve month high of $40.16. The stock has a market capitalization of $8.87 billion, a price-to-earnings ratio of 46.21 and a beta of 1.38. The firm’s fifty day simple moving average is $35.37 and its two-hundred day simple moving average is $34.95.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, February 4th. The company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.96. The business had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.42 billion. MGM Resorts International had a return on equity of 26.04% and a net margin of 1.17%.During the same quarter last year, the firm posted $0.45 earnings per share. As a group, analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current year.

MGM Resorts International Company Profile

MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.

The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.