MGM Resorts International (NYSE:MGM) had its target price lifted by research analysts at Barclays from $37.00 to $40.00 in a research report issued to clients and investors on Friday. The brokerage presently has an “overweight” rating on the stock. Barclays’ price objective points to a potential upside of 13.99% from the company’s current price.
Several other equities research analysts also recently issued reports on the stock. JPMorgan Chase & Co. restated an “overweight” rating and issued a $44.00 price objective (up previously from $41.00) on shares of MGM Resorts International in a research note on Tuesday, January 9th. Zacks Investment Research upgraded shares of MGM Resorts International from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. Nomura lowered their price objective on shares of MGM Resorts International from $38.00 to $37.00 and set a “buy” rating on the stock in a research note on Wednesday, November 1st. Jefferies Group started coverage on shares of MGM Resorts International in a research note on Thursday, January 18th. They issued a “buy” rating and a $43.00 price objective on the stock. Finally, Stifel Nicolaus restated a “hold” rating and issued a $36.00 price objective (up previously from $33.00) on shares of MGM Resorts International in a research note on Thursday, November 9th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. MGM Resorts International has an average rating of “Buy” and a consensus price target of $37.94.
Shares of MGM Resorts International (MGM) traded up $0.58 during trading on Friday, hitting $35.09. 2,440,270 shares of the stock traded hands, compared to its average volume of 8,583,525. The firm has a market capitalization of $19,479.89, a P/E ratio of 10.32, a price-to-earnings-growth ratio of 6.01 and a beta of 1.44. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.98 and a current ratio of 0.77. MGM Resorts International has a twelve month low of $25.15 and a twelve month high of $38.41.
MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Tuesday, February 20th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.04. The business had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.51 billion. MGM Resorts International had a net margin of 17.92% and a return on equity of 5.78%. MGM Resorts International’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the company posted $0.11 earnings per share. analysts anticipate that MGM Resorts International will post 1.43 earnings per share for the current year.
In other MGM Resorts International news, insider Phyllis James sold 19,149 shares of MGM Resorts International stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $33.64, for a total transaction of $644,172.36. Following the completion of the transaction, the insider now directly owns 8,961 shares of the company’s stock, valued at $301,448.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sean Charland acquired 25,000 shares of the business’s stock in a transaction on Wednesday, December 6th. The shares were bought at an average cost of $22.50 per share, with a total value of $562,500.00. Over the last three months, insiders have acquired 95,000 shares of company stock valued at $581,500. Company insiders own 12.20% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the business. Sun Life Financial INC bought a new position in shares of MGM Resorts International in the third quarter valued at about $124,000. Cerebellum GP LLC bought a new position in shares of MGM Resorts International in the fourth quarter valued at about $126,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of MGM Resorts International by 88.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,945 shares of the company’s stock valued at $165,000 after buying an additional 2,318 shares during the last quarter. Toronto Dominion Bank raised its holdings in shares of MGM Resorts International by 12.4% in the second quarter. Toronto Dominion Bank now owns 5,644 shares of the company’s stock valued at $177,000 after buying an additional 624 shares during the last quarter. Finally, Spirit of America Management Corp NY raised its holdings in shares of MGM Resorts International by 78.1% in the fourth quarter. Spirit of America Management Corp NY now owns 5,700 shares of the company’s stock valued at $190,000 after buying an additional 2,500 shares during the last quarter. 82.31% of the stock is owned by institutional investors.
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MGM Resorts International Company Profile
MGM Resorts International is a holding company. The Company, through its subsidiaries, owns and operates casino resorts. The Company operates in two segments: domestic resorts and MGM China. Its domestic resorts segment consists of non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities.
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