Barclays Raises MGM Resorts International (NYSE:MGM) Price Target to $56.00

MGM Resorts International (NYSE:MGM) had its price target raised by Barclays from $55.00 to $56.00 in a research note published on Thursday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other equities analysts have also commented on the company. JPMorgan Chase & Co. boosted their price objective on MGM Resorts International from $54.00 to $57.00 and gave the stock an overweight rating in a research note on Thursday. JMP Securities reissued a market outperform rating and set a $57.00 price objective on shares of MGM Resorts International in a report on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of MGM Resorts International from $50.00 to $52.00 and gave the stock a buy rating in a research note on Wednesday, February 14th. Macquarie reissued an outperform rating and issued a $58.00 price target on shares of MGM Resorts International in a report on Wednesday, February 14th. Finally, Morgan Stanley boosted their price objective on shares of MGM Resorts International from $45.00 to $46.00 and gave the stock an equal weight rating in a research report on Tuesday, April 9th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, MGM Resorts International currently has a consensus rating of Moderate Buy and an average target price of $54.77.

MGM Resorts International Trading Up 0.4 %

Shares of MGM Resorts International stock opened at $41.04 on Thursday. The stock has a market capitalization of $12.87 billion, a P/E ratio of 15.78, a price-to-earnings-growth ratio of 1.68 and a beta of 2.22. MGM Resorts International has a 12-month low of $34.12 and a 12-month high of $51.35. The company has a quick ratio of 1.53, a current ratio of 1.51 and a debt-to-equity ratio of 1.56. The company has a 50-day simple moving average of $43.52 and a 200 day simple moving average of $42.32.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.18. The company had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.24 billion. MGM Resorts International had a net margin of 5.35% and a return on equity of 23.62%. The company’s revenue was up 13.2% on a year-over-year basis. During the same quarter last year, the business posted $0.44 earnings per share. Research analysts expect that MGM Resorts International will post 2.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In other MGM Resorts International news, Director Keith A. Meister sold 325,000 shares of the 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 transaction, the director now owns 6,098,778 shares of the company’s stock, valued at $261,637,576.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.13% of the stock is owned by insiders.

Institutional Investors Weigh In On MGM Resorts International

Large investors have recently bought and sold shares of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of MGM Resorts International by 28.7% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 91,456 shares of the company’s stock valued at $3,362,000 after buying an additional 20,400 shares in the last quarter. Kingswood Wealth Advisors LLC bought a new stake in shares of MGM Resorts International in the third quarter worth about $342,000. Raymond James & Associates raised its position in shares of MGM Resorts International by 60.8% during the third quarter. Raymond James & Associates now owns 322,520 shares of the company’s stock worth $11,856,000 after purchasing an additional 121,947 shares during the period. Stratos Wealth Partners LTD. lifted its holdings in shares of MGM Resorts International by 42.9% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 27,461 shares of the company’s stock valued at $1,009,000 after purchasing an additional 8,244 shares in the last quarter. Finally, Independent Advisor Alliance grew its position in shares of MGM Resorts International by 9.4% in the 3rd quarter. Independent Advisor Alliance now owns 15,653 shares of the company’s stock valued at $575,000 after purchasing an additional 1,349 shares during the period. Institutional investors own 68.11% of the company’s stock.

MGM Resorts International Company Profile

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.