MGM Resorts International (NYSE:MGM) Receives $54.00 Consensus Target Price from Analysts

Shares of MGM Resorts International (NYSE:MGM) have been given a consensus recommendation of “Moderate Buy” by the fifteen brokerages that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $54.00.

A number of analysts recently commented on MGM shares. Susquehanna raised their price target on MGM Resorts International from $54.00 to $55.00 and gave the stock a “positive” rating in a research note on Thursday, August 1st. Stifel Nicolaus raised their price target on MGM Resorts International from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Morgan Stanley dropped their price target on MGM Resorts International from $47.00 to $44.00 and set an “equal weight” rating for the company in a research note on Friday, July 12th. Barclays raised their price target on MGM Resorts International from $55.00 to $56.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Finally, Macquarie dropped their price target on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd.

MGM Resorts International Stock Performance

NYSE:MGM opened at $37.48 on Friday. The firm has a market cap of $11.76 billion, a PE ratio of 14.42, a price-to-earnings-growth ratio of 0.77 and a beta of 2.24. MGM Resorts International has a fifty-two week low of $33.44 and a fifty-two week high of $48.24. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.46 and a current ratio of 1.47. The business has a 50 day moving average price of $41.78 and a 200-day moving average price of $42.56.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.20. The firm had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a return on equity of 26.36% and a net margin of 5.15%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.59 earnings per share. Equities research analysts predict that MGM Resorts International will post 3 earnings per share for the current year.

Insider Activity

In other news, Director Alexis Herman sold 4,344 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $41.50, for a total transaction of $180,276.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Alexis Herman sold 4,344 shares of MGM Resorts International stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $41.50, for a total value of $180,276.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of MGM Resorts International stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average price of $34.00 per share, with a total value of $340,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 38,299 shares in the company, valued at approximately $1,302,166. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 216,400 shares of company stock worth $7,312,197 and sold 147,988 shares worth $5,991,759. Corporate insiders own 2.13% of the company’s stock.

Institutional Investors Weigh In On MGM Resorts International

Large investors have recently bought and sold shares of the business. Thoroughbred Financial Services LLC purchased a new position in MGM Resorts International in the second quarter worth about $214,000. DekaBank Deutsche Girozentrale boosted its position in MGM Resorts International by 3.8% in the second quarter. DekaBank Deutsche Girozentrale now owns 57,345 shares of the company’s stock worth $2,479,000 after purchasing an additional 2,078 shares during the last quarter. Qsemble Capital Management LP boosted its position in MGM Resorts International by 1,230.6% in the second quarter. Qsemble Capital Management LP now owns 58,321 shares of the company’s stock worth $2,592,000 after purchasing an additional 53,938 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in MGM Resorts International by 2.9% in the second quarter. Daiwa Securities Group Inc. now owns 28,007 shares of the company’s stock worth $1,245,000 after purchasing an additional 797 shares during the last quarter. Finally, Andra AP fonden boosted its position in MGM Resorts International by 19.1% in the second quarter. Andra AP fonden now owns 204,000 shares of the company’s stock worth $9,066,000 after purchasing an additional 32,700 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors.

About MGM Resorts International

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.