MGM Resorts International (NYSE:MGM) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Wednesday.
Several other equities analysts also recently issued reports on the company. JPMorgan Chase reissued an “overweight” rating and issued a $44.00 target price (up from $41.00) on shares of MGM Resorts International in a research report on Tuesday, January 9th. Morgan Stanley increased their price target on MGM Resorts International from $40.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, March 27th. Zacks Investment Research raised MGM Resorts International from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Monday, February 5th. Barclays increased their price target on MGM Resorts International from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Finally, Jefferies Group began coverage on MGM Resorts International in a research report on Thursday, January 18th. They set a “buy” rating and a $43.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $38.53.
Shares of MGM opened at $35.56 on Wednesday. MGM Resorts International has a 12 month low of $28.10 and a 12 month high of $38.41. The company has a quick ratio of 0.73, a current ratio of 0.77 and a debt-to-equity ratio of 1.09. The firm has a market cap of $20,621.44, a PE ratio of 35.70, a price-to-earnings-growth ratio of 1.94 and a beta of 1.40.
MGM Resorts International (NYSE:MGM) last released its earnings results on Tuesday, February 20th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.04. MGM Resorts International had a return on equity of 5.78% and a net margin of 17.92%. The firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same period in the prior year, the firm earned $0.11 EPS. The firm’s revenue was up 5.5% on a year-over-year basis. analysts forecast that MGM Resorts International will post 1.41 earnings per share for the current year.
In other MGM Resorts International news, President William Hornbuckle sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $36.36, for a total value of $2,181,600.00. Following the transaction, the president now directly owns 26,289 shares of the company’s stock, valued at approximately $955,868.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel J. Taylor sold 12,536 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $34.67, for a total transaction of $434,623.12. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 46,000 shares of company stock worth $49,000 and sold 142,646 shares worth $5,104,710. Company insiders own 12.20% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. American Assets Capital Advisers LLC raised its position in shares of MGM Resorts International by 64.6% during the 4th quarter. American Assets Capital Advisers LLC now owns 570,704 shares of the company’s stock valued at $19,055,000 after buying an additional 224,000 shares during the period. Teacher Retirement System of Texas raised its position in shares of MGM Resorts International by 4.7% during the 4th quarter. Teacher Retirement System of Texas now owns 406,481 shares of the company’s stock valued at $13,572,000 after buying an additional 18,261 shares during the period. AXA raised its position in shares of MGM Resorts International by 22.0% during the 3rd quarter. AXA now owns 313,177 shares of the company’s stock valued at $10,206,000 after buying an additional 56,566 shares during the period. Monashee Investment Management LLC purchased a new stake in shares of MGM Resorts International during the 4th quarter valued at approximately $3,339,000. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new stake in shares of MGM Resorts International during the 4th quarter valued at approximately $839,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.
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MGM Resorts International Company Profile
MGM Resorts International, through its subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts in the United States and China. The company operates through two segments, Domestic Resorts and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.
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