Analysts Set MGM Resorts International (MGM) PT at $33.78

MGM Resorts International (NYSE:MGM) has been assigned an average rating of “Hold” from the fifteen ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $33.78.

MGM has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Monday, January 21st. Morgan Stanley reiterated a “buy” rating on shares of MGM Resorts International in a research note on Monday, December 3rd. Credit Suisse Group reiterated a “neutral” rating and issued a $30.00 price objective on shares of MGM Resorts International in a research note on Wednesday, March 20th. Finally, Deutsche Bank restated a “hold” rating and set a $33.00 price target on shares of MGM Resorts International in a research note on Monday, January 28th.

In other MGM Resorts International news, Director Mary Christine Gay purchased 3,700 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was acquired at an average price of $27.27 per share, for a total transaction of $100,899.00. Following the purchase, the director now owns 18,036 shares of the company’s stock, valued at approximately $491,841.72. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.43% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Canyon Capital Advisors LLC grew its stake in shares of MGM Resorts International by 9.0% in the 3rd quarter. Canyon Capital Advisors LLC now owns 21,163,868 shares of the company’s stock worth $590,684,000 after acquiring an additional 1,749,500 shares in the last quarter. Capital International Investors bought a new stake in shares of MGM Resorts International in the 3rd quarter worth $376,785,000. Bank of New York Mellon Corp grew its stake in shares of MGM Resorts International by 1.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 7,706,111 shares of the company’s stock worth $215,078,000 after acquiring an additional 102,357 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of MGM Resorts International by 6.1% in the 4th quarter. Geode Capital Management LLC now owns 6,387,824 shares of the company’s stock worth $154,688,000 after acquiring an additional 366,980 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of MGM Resorts International by 380.3% in the 4th quarter. Bank of America Corp DE now owns 5,827,720 shares of the company’s stock worth $141,381,000 after acquiring an additional 4,614,420 shares in the last quarter. Institutional investors and hedge funds own 80.88% of the company’s stock.

NYSE:MGM opened at $25.66 on Wednesday. The firm has a market capitalization of $13.67 billion, a PE ratio of 25.98, a P/E/G ratio of 3.54 and a beta of 1.39. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.86 and a quick ratio of 0.82. MGM Resorts International has a twelve month low of $21.61 and a twelve month high of $36.80.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Wednesday, February 13th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. The company had revenue of $3.05 billion during the quarter, compared to analyst estimates of $3.01 billion. MGM Resorts International had a net margin of 3.96% and a return on equity of 5.23%. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. Analysts forecast that MGM Resorts International will post 1.15 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 8th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date was Thursday, March 7th. This is a positive change from MGM Resorts International’s previous quarterly dividend of $0.12. MGM Resorts International’s payout ratio is 52.53%.

MGM Resorts International Company Profile

MGM Resorts International, through its subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts in the United States and China. The company operates through two segments, Domestic Resorts 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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