MGM Resorts International (NYSE:MGM) Receives $52.93 Consensus Target Price from Brokerages

Shares of MGM Resorts International (NYSE:MGMGet Rating) have earned a consensus recommendation of “Hold” from the eighteen analysts that are presently covering the company, MarketBeat.com reports. Eight analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $52.93.

Several equities research analysts have commented on the stock. Susquehanna upgraded shares of MGM Resorts International from a “negative” rating to a “neutral” rating and increased their price objective for the company from $36.00 to $45.00 in a research note on Friday, March 18th. Bank of America decreased their price target on shares of MGM Resorts International from $55.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, April 18th. Susquehanna Bancshares upgraded shares of MGM Resorts International from a “negative” rating to a “neutral” rating and raised their price target for the stock from $36.00 to $45.00 in a research note on Friday, March 18th. UBS Group decreased their price target on shares of MGM Resorts International to $40.00 in a research note on Thursday, June 9th. Finally, Truist Financial decreased their price target on shares of MGM Resorts International from $51.00 to $48.00 and set a “hold” rating for the company in a research note on Tuesday, April 19th.

NYSE MGM opened at $27.17 on Tuesday. The company has a market capitalization of $11.58 billion, a price-to-earnings ratio of 8.82 and a beta of 2.19. MGM Resorts International has a twelve month low of $26.41 and a twelve month high of $51.17. The stock has a fifty day simple moving average of $35.48 and a 200 day simple moving average of $40.27. The company has a quick ratio of 1.23, a current ratio of 1.25 and a debt-to-equity ratio of 1.06.

MGM Resorts International (NYSE:MGMGet Rating) last issued its quarterly earnings results on Monday, May 2nd. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.10. The business had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.75 billion. MGM Resorts International had a net margin of 14.40% and a return on equity of 0.81%. During the same quarter in the prior year, the firm posted ($0.68) earnings per share. Research analysts expect that MGM Resorts International will post 0.79 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Friday, June 10th were issued a $0.0025 dividend. This represents a $0.01 annualized dividend and a yield of 0.04%. The ex-dividend date was Thursday, June 9th. MGM Resorts International’s payout ratio is 0.32%.

In related news, Director Paul J. Salem acquired 34,500 shares of the company’s stock in a transaction dated Monday, June 13th. The stock was bought at an average cost of $28.92 per share, with a total value of $997,740.00. Following the acquisition, the director now owns 1,555,000 shares of the company’s stock, valued at approximately $44,970,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Hornbuckle sold 10,000 shares of MGM Resorts International stock in a transaction on Wednesday, April 20th. The stock was sold at an average price of $43.00, for a total transaction of $430,000.00. Following the sale, the chief executive officer now directly owns 132,603 shares of the company’s stock, valued at $5,701,929. The disclosure for this sale can be found here. 2.13% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of MGM. Chilton Capital Management LLC bought a new stake in shares of MGM Resorts International during the 4th quarter worth $25,000. UMB Bank N A MO purchased a new position in MGM Resorts International in the 4th quarter worth $29,000. Capital Advisory Group Advisory Services LLC purchased a new position in MGM Resorts International in the 1st quarter worth $29,000. First Horizon Advisors Inc. raised its position in MGM Resorts International by 715.4% in the 1st quarter. First Horizon Advisors Inc. now owns 742 shares of the company’s stock worth $31,000 after purchasing an additional 651 shares during the period. Finally, GPS Wealth Strategies Group LLC raised its position in MGM Resorts International by 280.0% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 760 shares of the company’s stock worth $32,000 after purchasing an additional 560 shares during the period. 85.76% of the stock is owned by institutional investors.

MGM Resorts International Company Profile (Get Rating)

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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