MGM Resorts International (NYSE:MGM) Receives $53.37 Consensus Target Price from Analysts

Shares of MGM Resorts International (NYSE:MGM) have received an average recommendation of “Moderate Buy” from the twenty-two research firms that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $53.3706.

A number of analysts have weighed in on MGM shares. Susquehanna raised their price target on MGM Resorts International from $52.00 to $53.00 and gave the company a “positive” rating in a research note on Wednesday, July 29th. Barclays upped their price objective on shares of MGM Resorts International from $39.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, July 9th. Jefferies Financial Group reaffirmed a “hold” rating on shares of MGM Resorts International in a report on Thursday, July 2nd. HSBC raised shares of MGM Resorts International to a “strong-buy” rating in a report on Thursday, July 30th. Finally, Argus upped their price objective on MGM Resorts International from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, August 17th.

MGM Resorts International Price Performance

MGM Resorts International stock opened at $43.41 on Monday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.30 and a current ratio of 1.34. The company’s 50 day simple moving average is $45.70 and its 200-day simple moving average is $41.24. MGM Resorts International has a 1 year low of $29.18 and a 1 year high of $51.59. The company has a market capitalization of $10.92 billion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 2.22 and a beta of 1.31.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MGM. CYBER HORNET ETFs LLC purchased a new position in shares of MGM Resorts International during the 2nd quarter worth approximately $25,000. Global Retirement Partners LLC lifted its stake in shares of MGM Resorts International by 55.9% during the fourth quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock valued at $29,000 after buying an additional 281 shares during the period. International Assets Investment Management LLC purchased a new position in shares of MGM Resorts International during the 1st quarter worth $30,000. Optiver Holding B.V. acquired a new stake in MGM Resorts International in the 1st quarter worth about $35,000. Finally, Elyxium Wealth LLC acquired a new stake in shares of MGM Resorts International in the fourth quarter worth approximately $42,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.

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.