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

MGM Resorts International (NYSE:MGM) has earned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $55.34.

A number of research firms recently weighed in on MGM. Macquarie reiterated an “outperform” rating and issued a $58.00 price objective on shares of MGM Resorts International in a research report on Wednesday, February 14th. Mizuho started coverage on shares of MGM Resorts International in a research report on Tuesday, March 26th. They issued a “buy” rating and a $61.00 price objective on the stock. StockNews.com downgraded MGM Resorts International from a “buy” rating to a “hold” rating in a report on Monday, March 4th. Morgan Stanley raised their target price on MGM Resorts International from $45.00 to $46.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Finally, Barclays reduced their target price on MGM Resorts International from $57.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th.

MGM Resorts International Stock Performance

Shares of MGM opened at $42.18 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.53 and a debt-to-equity ratio of 1.46. The firm has a market cap of $13.37 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 1.76 and a beta of 2.19. The company’s 50 day simple moving average is $43.76 and its 200-day simple moving average is $42.09. MGM Resorts International has a 12-month low of $34.12 and a 12-month high of $51.35.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Tuesday, February 13th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.39. The business had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.14 billion. MGM Resorts International had a net margin of 7.07% and a return on equity of 20.51%. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period last year, the firm posted $0.69 earnings per share. As a group, equities analysts predict that MGM Resorts International will post 2.46 EPS for the current year.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 325,000 shares of MGM Resorts International stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total value of $13,942,500.00. Following the completion of the sale, the director now owns 6,098,778 shares in the company, valued at approximately $261,637,576.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.13% of the stock is owned by company insiders.

Institutional Trading of MGM Resorts International

A number of institutional investors have recently modified their holdings of MGM. Davis Selected Advisers acquired a new position in MGM Resorts International during the 3rd quarter worth approximately $361,915,000. Capital World Investors lifted its position in MGM Resorts International by 17.7% during the 4th quarter. Capital World Investors now owns 6,551,310 shares of the company’s stock worth $292,713,000 after acquiring an additional 984,617 shares in the last quarter. Boston Partners lifted its position in MGM Resorts International by 36.3% during the 4th quarter. Boston Partners now owns 5,427,254 shares of the company’s stock worth $242,002,000 after acquiring an additional 1,446,362 shares in the last quarter. Fisher Asset Management LLC lifted its position in MGM Resorts International by 5.2% during the 4th quarter. Fisher Asset Management LLC now owns 4,357,344 shares of the company’s stock worth $194,686,000 after acquiring an additional 213,528 shares in the last quarter. Finally, Invesco Ltd. lifted its position in MGM Resorts International by 14.6% during the 3rd quarter. Invesco Ltd. now owns 3,940,156 shares of the company’s stock worth $144,840,000 after acquiring an additional 500,566 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

About MGM Resorts International

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.