MGM Resorts International (NYSE:MGM) Given Consensus Recommendation of “Moderate Buy” by Brokerages

MGM Resorts International (NYSE:MGM) has been assigned an average rating of “Moderate Buy” from the twenty-two ratings firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $53.2529.

Several equities research analysts recently issued reports on the company. Weiss Ratings upgraded MGM Resorts International from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday, July 30th. Argus lifted their price objective on shares of MGM Resorts International from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, August 17th. HSBC upgraded shares of MGM Resorts International to a “strong-buy” rating in a research note on Thursday, July 30th. Barclays increased their target price on shares of MGM Resorts International from $39.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. Finally, Citigroup boosted their price target on shares of MGM Resorts International from $40.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, July 2nd.

MGM Resorts International Price Performance

MGM stock opened at $38.24 on Friday. The company has a market capitalization of $9.62 billion, a P/E ratio of 23.17, a price-to-earnings-growth ratio of 1.96 and a beta of 1.28. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.30 and a current ratio of 1.34. MGM Resorts International has a 52-week low of $29.18 and a 52-week high of $51.59. The business has a 50-day simple moving average of $43.57 and a two-hundred day simple moving average of $41.76.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. MGM Resorts International had a return on equity of 23.30% and a net margin of 2.40%.The firm had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.42 billion. During the same period in the previous year, the company posted $0.79 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. Research analysts expect that MGM Resorts International will post 1.96 EPS for the current fiscal year.

Hedge Funds Weigh In On MGM Resorts International

Hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC increased its position in shares of MGM Resorts International by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 5,224,452 shares of the company’s stock valued at $190,295,000 after acquiring an additional 49,613 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in MGM Resorts International by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,379,727 shares of the company’s stock worth $88,050,000 after purchasing an additional 36,649 shares during the last quarter. Montanova Capital LLC grew its stake in MGM Resorts International by 7.7% in the 2nd quarter. Montanova Capital LLC now owns 2,325,360 shares of the company’s stock valued at $111,175,000 after purchasing an additional 166,560 shares during the period. Norges Bank bought a new position in MGM Resorts International in the 4th quarter valued at $82,348,000. Finally, Bank of New York Mellon Corp increased its position in shares of MGM Resorts International by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,598,531 shares of the company’s stock valued at $76,426,000 after purchasing an additional 46,268 shares during the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

MGM Resorts International Company Profile

MGM Resorts International is a global hospitality and entertainment company that owns and operates destination resorts, casinos, hotels, restaurants, convention facilities and live-entertainment venues. Its properties offer casino gaming, hotel accommodations, dining, nightlife, retail, spa services, sporting events and other leisure activities.

The company operates a portfolio of resorts in Las Vegas and other U.S. markets, including properties associated with brands such as MGM Grand, Bellagio, ARIA, Mandalay Bay, Park MGM, New York-New York and MGM National Harbor.