MGM Resorts International (NYSE:MGM) Stock Price Expected to Rise, Capital One Financial Analyst Says

MGM Resorts International (NYSE:MGM) had its price objective raised by investment analysts at Capital One Financial from $53.00 to $57.00 in a research note issued on Monday. The brokerage presently has an “overweight” rating on the stock. Capital One Financial‘s price target points to a potential upside of 67.49% from the company’s current price.

Several other research analysts have also commented on the stock. Weiss Ratings upgraded shares of MGM Resorts International from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday, July 30th. JPMorgan Chase & Co. lifted their target price on shares of MGM Resorts International from $46.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Stifel Nicolaus reaffirmed a “hold” rating and set a $49.00 price objective (up from $48.00) on shares of MGM Resorts International in a research report on Monday, June 15th. Susquehanna dropped their price target on MGM Resorts International from $55.00 to $46.00 and set a “positive” rating on the stock in a research report on Thursday. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of MGM Resorts International in a research note on Thursday, July 2nd. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.96.

MGM Resorts International Trading Down 10.1%

Shares of MGM opened at $34.03 on Monday. The stock has a market capitalization of $8.56 billion, a P/E ratio of 20.58, a PEG ratio of 1.99 and a beta of 1.28. MGM Resorts International has a twelve month low of $29.18 and a twelve month high of $51.59. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 1.80. The firm has a fifty day simple moving average of $42.88 and a two-hundred day simple moving average of $41.81.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, July 29th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. The company had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.42 billion. MGM Resorts International had a net margin of 2.40% and a return on equity of 23.30%. MGM Resorts International’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.79 earnings per share. On average, research analysts anticipate that MGM Resorts International will post 1.96 EPS for the current year.

Institutional Trading of MGM Resorts International

Several large investors have recently added to or reduced their stakes in MGM. QRG Capital Management Inc. increased its stake in shares of MGM Resorts International by 10.9% in the 2nd quarter. QRG Capital Management Inc. now owns 37,863 shares of the company’s stock worth $1,810,000 after purchasing an additional 3,716 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in MGM Resorts International by 1.1% during the second quarter. Envestnet Asset Management Inc. now owns 494,992 shares of the company’s stock valued at $23,666,000 after purchasing an additional 5,411 shares in the last quarter. State Street Corp grew its holdings in MGM Resorts International by 0.8% during the second quarter. State Street Corp now owns 7,047,768 shares of the company’s stock valued at $336,954,000 after purchasing an additional 56,072 shares during the period. The Manufacturers Life Insurance Company increased its position in MGM Resorts International by 6.1% in the second quarter. The Manufacturers Life Insurance Company now owns 152,329 shares of the company’s stock worth $7,283,000 after buying an additional 8,721 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in shares of MGM Resorts International by 3.1% in the second quarter. Sequoia Financial Advisors LLC now owns 36,005 shares of the company’s stock worth $1,721,000 after buying an additional 1,075 shares during the period. 68.11% of the stock is currently owned by institutional investors.

MGM Resorts International News Summary

Here are the key news stories impacting MGM Resorts International this week:

• Positive Sentiment: Capital One raised its price target on MGM from $53 to $57 and maintained an “overweight” rating, implying substantial upside from the current trading level.
• Positive Sentiment: Susquehanna lowered its target from $55 to $46 but retained a positive rating, indicating that analysts still see meaningful upside despite the failed deal.
• Neutral Sentiment: MGM’s board confirmed its commitment to executing the company’s strategy as a standalone business after People Inc. withdrew its proposal. MGM Resorts board confirms standalone strategy
• Negative Sentiment: The failed takeover eliminates the immediate possibility of a deal near the reported $48.30-per-share proposal, likely weighing on investor expectations and the stock’s valuation. Barry Diller withdraws MGM bid
• Negative Sentiment: A securities law firm announced an investigation related to Diller’s proposal, adding a potential legal and governance overhang. The announcement is an investigation notice, not a finding of wrongdoing. MGM investor investigation announcement

MGM Resorts International Company Profile

MGM Resorts International is a global hospitality and entertainment company that owns and operates destination resorts, casinos, hotels, restaurants, convention facilities and live-entertainment venues. Its properties offer casino gaming, hotel accommodations, dining, nightlife, retail, spa services, sporting events and other leisure activities.

The company operates a portfolio of resorts in Las Vegas and other U.S. markets, including properties associated with brands such as MGM Grand, Bellagio, ARIA, Mandalay Bay, Park MGM, New York-New York and MGM National Harbor.