MGM Resorts International (NYSE:MGM) Receives $53.93 Consensus Target Price from Analysts

by · The Markets Daily

MGM Resorts International (NYSE:MGM – Get Free Report) has been given a consensus rating of “Moderate Buy” by the sixteen ratings firms that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $53.93.

MGM has been the subject of several analyst reports. Morgan Stanley dropped their price target on shares of MGM Resorts International from $44.00 to $43.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 4th. Wells Fargo & Company reduced their target price on MGM Resorts International from $55.00 to $53.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. BTIG Research initiated coverage on MGM Resorts International in a research note on Wednesday, July 3rd. They issued a “buy” rating and a $52.00 price target on the stock. Macquarie cut their price objective on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, Susquehanna upped their target price on shares of MGM Resorts International from $54.00 to $55.00 and gave the company a “positive” rating in a research report on Thursday, August 1st.

Read Our Latest Analysis on MGM

MGM Resorts International Stock Performance

NYSE MGM opened at $39.62 on Monday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.42 and a current ratio of 1.47. The stock’s fifty day moving average is $38.11 and its two-hundred day moving average is $41.03. The firm has a market capitalization of $12.43 billion, a P/E ratio of 15.24, a price-to-earnings-growth ratio of 0.68 and a beta of 2.22. MGM Resorts International has a fifty-two week low of $33.44 and a fifty-two week high of $48.24.

MGM Resorts International (NYSE:MGM – Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.20. MGM Resorts International had a net margin of 5.15% and a return on equity of 26.36%. The firm had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter in the previous year, the company posted $0.59 EPS. The company’s revenue was up 9.8% compared to the same quarter last year. On average, research analysts anticipate that MGM Resorts International will post 2.63 earnings per share for the current year.

Insider Activity

In related news, CFO Jonathan S. Halkyard purchased 10,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were bought at an average price of $34.00 per share, for a total transaction of $340,000.00. Following the acquisition, the chief financial officer now directly owns 38,299 shares in the company, valued at $1,302,166. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Jonathan S. Halkyard purchased 10,000 shares of the stock in a transaction on Monday, August 5th. The stock was bought at an average price of $34.00 per share, for a total transaction of $340,000.00. Following the acquisition, the chief financial officer now directly owns 38,299 shares of the company’s stock, valued at approximately $1,302,166. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Keith A. Meister sold 121,000 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the completion of the sale, the director now owns 5,738,478 shares in the company, valued at $210,716,912.16. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 216,400 shares of company stock worth $7,312,197. Corporate insiders own 2.13% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MGM. International Assets Investment Management LLC acquired a new position in MGM Resorts International in the second quarter valued at approximately $28,000. EverSource Wealth Advisors LLC grew its position in shares of MGM Resorts International by 60.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock valued at $41,000 after buying an additional 329 shares during the last quarter. UMB Bank n.a. raised its stake in MGM Resorts International by 33.3% during the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock worth $42,000 after acquiring an additional 237 shares in the last quarter. Accent Capital Management LLC purchased a new stake in MGM Resorts International in the fourth quarter valued at $45,000. Finally, Mendota Financial Group LLC boosted its stake in MGM Resorts International by 36.0% in the first quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock valued at $47,000 after acquiring an additional 266 shares in the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

MGM Resorts International Company Profile

(Get Free Report

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.

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