MGM Resorts International (NYSE:MGM) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of MGM Resorts International (NYSE:MGM) have received a consensus recommendation of “Moderate Buy” from the twenty-two brokerages that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation, ten have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $53.2529.

Several analysts have recently weighed in on MGM shares. Truist Financial upgraded MGM Resorts International from a “hold” rating to a “buy” rating and upped their price objective for the company from $42.00 to $55.00 in a report on Wednesday, May 27th. Jefferies Financial Group reaffirmed a “hold” rating on shares of MGM Resorts International in a report on Thursday, July 2nd. The Goldman Sachs Group reaffirmed a “sell” rating and set a $43.00 target price on shares of MGM Resorts International in a report on Wednesday, July 15th. Wells Fargo & Company raised shares of MGM Resorts International from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $33.00 to $48.30 in a report on Tuesday, July 7th. Finally, Weiss Ratings upgraded shares of MGM Resorts International from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, July 30th.

Institutional Trading of MGM Resorts International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in MGM Resorts International during the fourth quarter worth $82,348,000. Man Group plc acquired a new stake in shares of MGM Resorts International in the second quarter worth about $25,771,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of MGM Resorts International in the second quarter worth about $22,681,000. Clough Capital Partners L P bought a new stake in shares of MGM Resorts International during the 1st quarter worth about $15,857,000. Finally, Legal & General Group Plc bought a new stake in shares of MGM Resorts International during the 2nd quarter worth about $16,570,000. 68.11% of the stock is owned by institutional investors and hedge funds.

MGM Resorts International Price Performance

NYSE MGM opened at $38.87 on Friday. MGM Resorts International has a 12 month low of $29.18 and a 12 month high of $51.59. The firm has a market capitalization of $9.78 billion, a PE ratio of 23.56, a P/E/G ratio of 1.98 and a beta of 1.28. The company’s 50 day simple moving average is $43.06 and its 200 day simple moving average is $41.81. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.34 and a quick ratio of 1.30.

MGM Resorts International (NYSE:MGM) last released 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 firm had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.42 billion. MGM Resorts International had a return on equity of 23.30% and a net margin of 2.40%.The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.79 earnings per share. As a group, equities research analysts forecast that MGM Resorts International will post 1.96 EPS for the current fiscal year.

About MGM Resorts International

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.