MGM Resorts International (NYSE:MGM) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Posted by on Nov 3rd, 2023

Shares of MGM Resorts International (NYSE:MGM – Get Free Report) have been given an average rating of “Moderate Buy” by the ten ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $56.81.

MGM has been the topic of several analyst reports. Morgan Stanley decreased their price objective on shares of MGM Resorts International from $45.00 to $42.00 and set an “equal weight” rating for the company in a report on Friday, October 13th. Susquehanna decreased their price objective on shares of MGM Resorts International from $51.00 to $48.00 and set a “neutral” rating for the company in a report on Thursday, August 3rd. Citigroup increased their price objective on shares of MGM Resorts International from $63.00 to $66.50 in a report on Friday, August 4th. Stifel Nicolaus increased their price objective on shares of MGM Resorts International from $56.00 to $59.00 in a report on Thursday, August 3rd. Finally, Capital One Financial started coverage on shares of MGM Resorts International in a report on Thursday, October 12th. They issued an “overweight” rating and a $50.00 price objective for the company.

Check Out Our Latest Research Report on MGM Resorts International

MGM Resorts International Price Performance

Shares of NYSE:MGM opened at $36.24 on Friday. The firm’s 50 day moving average is $38.55 and its two-hundred day moving average is $42.20. MGM Resorts International has a 52 week low of $31.40 and a 52 week high of $51.35. The firm has a market capitalization of $12.72 billion, a P/E ratio of 35.18 and a beta of 2.17. The company has a current ratio of 2.04, a quick ratio of 2.00 and a debt-to-equity ratio of 1.38.

MGM Resorts International (NYSE:MGM – Get Free Report) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.53 by $0.06. MGM Resorts International had a net margin of 2.53% and a return on equity of 2.10%. The company had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same quarter last year, the business earned $0.03 earnings per share. MGM Resorts International’s revenue was up 20.7% compared to the same quarter last year. Analysts anticipate that MGM Resorts International will post 2.29 earnings per share for the current year.

Insider Buying and Selling

In related news, insider John Mcmanus sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $45.22, for a total value of $452,200.00. Following the completion of the transaction, the insider now owns 42,283 shares of the company’s stock, valued at approximately $1,912,037.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Daniel J. Taylor sold 4,454 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $45.25, for a total value of $201,543.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Mcmanus sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $45.22, for a total transaction of $452,200.00. Following the completion of the transaction, the insider now directly owns 42,283 shares of the company’s stock, valued at approximately $1,912,037.26. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,454 shares of company stock valued at $2,249,894. Company insiders own 2.13% of the company’s stock.

Institutional Investors Weigh In On MGM Resorts International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MGM. Aspire Private Capital LLC bought a new position in shares of MGM Resorts International during the 1st quarter valued at $12,314,468,000. Tyler Stone Wealth Management acquired a new stake in MGM Resorts International in the 2nd quarter worth $26,000. James Investment Research Inc. acquired a new stake in MGM Resorts International in the 1st quarter worth $29,000. ST Germain D J Co. Inc. acquired a new stake in MGM Resorts International in the 2nd quarter worth $31,000. Finally, VitalStone Financial LLC grew its position in MGM Resorts International by 108.9% in the 1st quarter. VitalStone Financial LLC now owns 729 shares of the company’s stock worth $33,000 after purchasing an additional 380 shares during the last quarter. Hedge funds and other institutional investors own 66.46% of the company’s stock.

About MGM Resorts International

(Get Free Report

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and Macau. 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.

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Analyst Recommendations for MGM Resorts International (NYSE:MGM)

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