Equities researchers at UBS AG upped their target price on shares of MGM Resorts International (NYSE:MGM) from $17.00 to $19.00 in a research report issued on Wednesday, Analyst Ratings Network reports. The firm currently has a “neutral” rating on the stock. UBS AG’s price objective suggests a potential downside of 0.52% from the stock’s previous close.
Shares of MGM Resorts International (NYSE:MGM) traded up 0.32% on Wednesday, hitting $19.10. 8,269,716 shares of the company’s stock traded hands. MGM Resorts International has a one year low of $9.15 and a one year high of $19.07. The stock’s 50-day moving average is $17.27 and its 200-day moving average is $14.82. The company’s market cap is $9.351 billion.
MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.04 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.01 by $0.03. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter last year, the company posted ($0.12) earnings per share. MGM Resorts International’s revenue was up 6.8% compared to the same quarter last year. On average, analysts predict that MGM Resorts International will post $0.01 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on MGM. Analysts at Zacks reiterated an “outperform” rating on shares of MGM Resorts International (NYSE:MGM) in a research note to investors on Monday, August 26th. They now have a $22.00 price target on the stock. Separately, analysts at Imperial Capital raised their price target on shares of MGM Resorts International (NYSE:MGM) from $15.00 to $20.00 in a research note to investors on Thursday, August 15th. They now have an “outperform” rating on the stock. Finally, analysts at Barclays Capital raised their price target on shares of MGM Resorts International (NYSE:MGM) from $17.00 to $20.00 in a research note to investors on Thursday, August 8th.
One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $20.78.
MGM Resorts International is a holding company. The Company is a hospitality company. The Company’s primary business is the ownership and operation of casino resorts, which includes offering gaming, hotel, convention, dining, entertainment, retail and other resort amenities.
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