MGM Resorts International (NYSE:MGM) Given Average Recommendation of “Hold” by Analysts

MGM Resorts International (NYSE:MGM) has been given a consensus rating of “Hold” by the twenty brokerages that are covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $41.9375.

Several research firms recently weighed in on MGM. Morgan Stanley restated an “underweight” rating and issued a $34.00 price target on shares of MGM Resorts International in a research note on Wednesday, February 11th. UBS Group lowered their price objective on MGM Resorts International from $39.00 to $37.00 and set a “neutral” rating for the company in a research note on Monday, November 17th. Deutsche Bank Aktiengesellschaft boosted their target price on MGM Resorts International from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. The Goldman Sachs Group reissued a “sell” rating and issued a $33.00 target price on shares of MGM Resorts International in a research note on Monday, December 15th. Finally, Citigroup lifted their price target on MGM Resorts International from $35.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MGM. Corient Private Wealth LLC lifted its position in MGM Resorts International by 356.6% in the 2nd quarter. Corient Private Wealth LLC now owns 528,526 shares of the company’s stock valued at $18,176,000 after acquiring an additional 412,767 shares in the last quarter. American Assets Inc. increased its holdings in shares of MGM Resorts International by 66.7% in the 2nd quarter. American Assets Inc. now owns 30,000 shares of the company’s stock worth $950,000 after purchasing an additional 12,000 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of MGM Resorts International by 109.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 129,115 shares of the company’s stock worth $4,276,000 after purchasing an additional 67,542 shares in the last quarter. WINTON GROUP Ltd purchased a new position in shares of MGM Resorts International in the second quarter worth $6,351,000. Finally, Vanguard Group Inc. raised its stake in shares of MGM Resorts International by 1.5% in the third quarter. Vanguard Group Inc. now owns 23,576,877 shares of the company’s stock worth $817,175,000 after purchasing an additional 340,629 shares during the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.

MGM Resorts International Trading Down 4.0%

NYSE:MGM opened at $35.63 on Monday. MGM Resorts International has a one year low of $25.30 and a one year high of $40.16. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.23 and a quick ratio of 1.20. The company’s 50-day simple moving average is $35.37 and its 200 day simple moving average is $34.97. The firm has a market capitalization of $9.12 billion, a P/E ratio of 47.51 and a beta of 1.38.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, February 4th. The company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.96. MGM Resorts International had a net margin of 1.17% and a return on equity of 26.04%. The business had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.42 billion. During the same quarter in the prior year, the company earned $0.45 earnings per share. As a group, analysts forecast that MGM Resorts International will post 2.21 EPS for the current fiscal year.

About MGM Resorts International

MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.

The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.