MGM Resorts International (NYSE:MGM) Receives Average Rating of “Moderate Buy” from Analysts

Shares of MGM Resorts International (NYSE:MGM) have been assigned an average recommendation of “Moderate Buy” from the twenty-two ratings firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $53.3706.

Several research firms have recently commented on MGM. HSBC raised shares of MGM Resorts International to a “strong-buy” rating in a research note on Thursday, July 30th. Wells Fargo & Company raised MGM Resorts International from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $33.00 to $48.30 in a report on Tuesday, July 7th. KeyCorp upgraded shares of MGM Resorts International from a “sector weight” rating to an “overweight” rating and set a $117.00 target price on the stock in a research report on Monday, April 27th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $43.00 target price on shares of MGM Resorts International in a research note on Wednesday, July 15th. Finally, Morgan Stanley reiterated an “underweight” rating on shares of MGM Resorts International in a research report on Wednesday, July 22nd.

Institutional Trading of MGM Resorts International

Institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC lifted its stake in shares of MGM Resorts International by 202.5% in the 3rd quarter. AQR Capital Management LLC now owns 8,446,982 shares of the company’s stock valued at $292,772,000 after purchasing an additional 5,654,757 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of MGM Resorts International by 81.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 7,642,060 shares of the company’s stock worth $264,874,000 after purchasing an additional 3,429,946 shares during the period. Davis Selected Advisers grew its stake in shares of MGM Resorts International by 12.0% during the fourth quarter. Davis Selected Advisers now owns 26,820,202 shares of the company’s stock worth $978,669,000 after purchasing an additional 2,866,750 shares during the period. Norges Bank bought a new stake in MGM Resorts International in the fourth quarter valued at about $82,348,000. Finally, Samlyn Capital LLC acquired a new position in MGM Resorts International in the third quarter valued at about $62,787,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Stock Down 0.0%

Shares of NYSE MGM opened at $43.72 on Monday. MGM Resorts International has a 12-month low of $29.18 and a 12-month high of $51.59. The firm’s 50-day simple moving average is $45.96 and its 200 day simple moving average is $41.07. 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 company has a market cap of $11.00 billion, a price-to-earnings ratio of 26.50, a price-to-earnings-growth ratio of 2.24 and a beta of 1.31.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.03. MGM Resorts International had a net margin of 2.40% and a return on equity of 23.30%. The firm had revenue of $4.45 billion during the quarter, compared to analysts’ expectations of $4.42 billion. During the same quarter last year, the company posted $0.79 EPS. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, research analysts expect that MGM Resorts International will post 1.96 earnings per share for the current fiscal year.

MGM Resorts International Company Profile

MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.

The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.