MGM Resorts International (NYSE:MGM) Receives Average Recommendation of “Moderate Buy” from Analysts

MGM Resorts International (NYSE:MGM) has been assigned an average recommendation of “Moderate Buy” from the fifteen analysts that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $51.93.

A number of analysts have weighed in on the company. Barclays decreased their price objective on MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating for the company in a research report on Friday, December 13th. Wells Fargo & Company reduced their target price on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Morgan Stanley boosted their price target on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Mizuho lowered their price objective on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Finally, JMP Securities reissued a “market outperform” rating and set a $50.00 target price on shares of MGM Resorts International in a research note on Thursday, January 16th.

Insider Activity

In other news, Director Keith A. Meister sold 51,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the sale, the director now owns 5,687,478 shares in the company, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.13% of the company’s stock.

Hedge Funds Weigh In On MGM Resorts International

Several large investors have recently added to or reduced their stakes in MGM. MidAtlantic Capital Management Inc. purchased a new stake in MGM Resorts International in the third quarter valued at approximately $28,000. Global Trust Asset Management LLC acquired a new position in shares of MGM Resorts International in the 4th quarter valued at $28,000. Eastern Bank purchased a new stake in shares of MGM Resorts International during the 3rd quarter valued at $35,000. Brooklyn Investment Group acquired a new stake in shares of MGM Resorts International during the 3rd quarter worth $44,000. Finally, Planning Capital Management Corp purchased a new position in shares of MGM Resorts International in the 3rd quarter worth $45,000. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

MGM Resorts International Trading Down 0.7 %

Shares of MGM Resorts International stock opened at $32.90 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. The company has a fifty day simple moving average of $35.15 and a 200-day simple moving average of $37.75. The stock has a market cap of $9.79 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 3.06 and a beta of 2.21. MGM Resorts International has a 12-month low of $31.61 and a 12-month high of $48.24.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). The firm had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the firm earned $0.64 EPS. On average, equities analysts forecast that MGM Resorts International will post 2.41 EPS for the current fiscal year.

MGM Resorts International Company Profile

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and internationally. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.