MGM Resorts International (NYSE:MGM) Stock Has Average Price Target of $50.72

MGM Resorts International (NYSE:MGM) has earned an average recommendation of “Hold” from the twenty-two brokerages that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, nine have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $48.47.

MGM has been the subject of a number of analyst reports. Mizuho lowered their target price on shares of MGM Resorts International from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, September 24th. The Goldman Sachs Group set a $30.00 price target on shares of MGM Resorts International in a research report on Tuesday, October 13th. Susquehanna decreased their price target on MGM Resorts International from $46.00 to $41.00 and set a “positive” rating for the company in a report on Thursday, October 8th. HSBC raised MGM Resorts International to a “strong-buy” rating in a research report on Thursday, July 30th. Finally, Weiss Ratings raised MGM Resorts International from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, July 30th.

Institutional Investors Weigh In On MGM Resorts International

A number of hedge funds have recently added to or reduced their stakes in MGM. Whittier Trust Co. increased its holdings in MGM Resorts International by 2.5% during the first quarter. Whittier Trust Co. now owns 10,778 shares of the company’s stock valued at $405,000 after buying an additional 262 shares during the period. Tema ETFs LLC lifted its holdings in MGM Resorts International by 10.6% during the second quarter. Tema ETFs LLC now owns 3,016 shares of the company’s stock worth $144,000 after buying an additional 290 shares during the period. New Mexico Educational Retirement Board lifted its holdings in MGM Resorts International by 4.4% during the second quarter. New Mexico Educational Retirement Board now owns 9,550 shares of the company’s stock worth $457,000 after buying an additional 400 shares during the period. Versant Capital Management Inc boosted its position in MGM Resorts International by 41.3% during the 3rd quarter. Versant Capital Management Inc now owns 1,437 shares of the company’s stock valued at $45,000 after acquiring an additional 420 shares in the last quarter. Finally, HB Wealth Management LLC boosted its position in MGM Resorts International by 2.9% during the 1st quarter. HB Wealth Management LLC now owns 16,440 shares of the company’s stock valued at $608,000 after acquiring an additional 458 shares in the last quarter. 68.11% of the stock is currently owned by institutional investors.

MGM Resorts International Trading Down 0.6%

NYSE MGM opened at $28.44 on Tuesday. The business’s 50-day moving average price is $37.45 and its two-hundred day moving average price is $41.04. MGM Resorts International has a 12 month low of $27.93 and a 12 month high of $51.59. The firm has a market capitalization of $7.16 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 1.47 and a beta of 1.35. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 1.80.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, July 29th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. MGM Resorts International had a net margin of 2.40% and a return on equity of 23.30%. The business had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.42 billion. During the same quarter in the prior year, the firm posted $0.79 EPS. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, analysts expect that MGM Resorts International will post 1.95 EPS for the current year.

MGM Resorts International Company Profile

MGM Resorts International is a global hospitality and entertainment company that develops, owns, and operates destination resorts featuring casinos, hotels, restaurants, entertainment venues, convention facilities, retail spaces, and nightlife offerings. Its portfolio includes well-known properties such as MGM Grand, Bellagio, ARIA, Mandalay Bay, and The Cosmopolitan of Las Vegas.

The company serves customers through properties in Las Vegas and other U.S. markets, including regional destinations in Michigan, Maryland, Massachusetts, Mississippi, New Jersey, New York, and Ohio.