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

Shares of MGM Resorts International (NYSE:MGMGet Rating) have been given an average rating of “Hold” by the eighteen ratings firms that are presently covering the firm, MarketBeat reports. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $52.93.

Several equities research analysts recently issued reports on MGM shares. TheStreet downgraded shares of MGM Resorts International from a “b-” rating to a “c+” rating in a research note on Tuesday, March 8th. Wells Fargo & Company dropped their price target on shares of MGM Resorts International from $60.00 to $56.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 13th. Morgan Stanley dropped their price target on shares of MGM Resorts International from $56.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Monday, April 25th. Bank of America dropped their price target on shares of MGM Resorts International from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, April 18th. Finally, Susquehanna Bancshares raised shares of MGM Resorts International from a “negative” rating to a “neutral” rating and lifted their price target for the stock from $36.00 to $45.00 in a research note on Friday, March 18th.

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

A number of large investors have recently modified their holdings of the stock. Oliver Lagore Vanvalin Investment Group bought a new stake in MGM Resorts International in the 1st quarter valued at about $38,000. Rehmann Capital Advisory Group raised its position in shares of MGM Resorts International by 25.2% during the 1st quarter. Rehmann Capital Advisory Group now owns 9,228 shares of the company’s stock worth $387,000 after buying an additional 1,859 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of MGM Resorts International by 130.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 46,611 shares of the company’s stock worth $1,955,000 after buying an additional 26,424 shares in the last quarter. Fortitude Advisory Group L.L.C. raised its position in shares of MGM Resorts International by 16.8% during the 1st quarter. Fortitude Advisory Group L.L.C. now owns 3,263 shares of the company’s stock worth $137,000 after buying an additional 470 shares in the last quarter. Finally, Neuberger Berman Group LLC raised its position in shares of MGM Resorts International by 25.3% during the 1st quarter. Neuberger Berman Group LLC now owns 743,789 shares of the company’s stock worth $31,223,000 after buying an additional 150,254 shares in the last quarter. Hedge funds and other institutional investors own 85.76% of the company’s stock.

Shares of MGM stock opened at $27.95 on Tuesday. The company’s fifty day simple moving average is $36.29 and its 200-day simple moving average is $40.56. MGM Resorts International has a 52 week low of $26.69 and a 52 week high of $51.17. The company has a current ratio of 1.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.06. The company has a market cap of $11.91 billion, a PE ratio of 9.07 and a beta of 2.19.

MGM Resorts International (NYSE:MGMGet Rating) last issued its 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. MGM Resorts International had a net margin of 14.40% and a return on equity of 0.81%. The business had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter last year, the firm posted ($0.68) EPS. Equities research analysts expect that MGM Resorts International will post 0.79 EPS for the current fiscal year.

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

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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