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

Shares of MGM Resorts International (NYSE:MGM) have earned an average recommendation of “Hold” from the thirteen brokerages that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $31.78.

MGM has been the topic of several recent analyst reports. Argus lifted their target price on MGM Resorts International to $35.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Nomura lifted their target price on MGM Resorts International from $36.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Susquehanna Bancshares initiated coverage on MGM Resorts International in a report on Wednesday, July 24th. They set a “negative” rating and a $23.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on MGM Resorts International from $33.00 to $37.00 and gave the stock an “in-line” rating in a report on Friday, July 26th. Finally, Morgan Stanley lifted their target price on MGM Resorts International from $31.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th.

Shares of MGM Resorts International stock traded up $0.29 during trading on Tuesday, reaching $28.23. 5,053,800 shares of the company were exchanged, compared to its average volume of 6,906,029. The company has a quick ratio of 0.69, a current ratio of 0.73 and a debt-to-equity ratio of 1.39. MGM Resorts International has a twelve month low of $21.61 and a twelve month high of $31.68. The business’s 50-day simple moving average is $28.87. The stock has a market cap of $15.39 billion, a price-to-earnings ratio of 28.52, a price-to-earnings-growth ratio of 4.61 and a beta of 1.42.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). MGM Resorts International had a return on equity of 3.77% and a net margin of 1.56%. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.21 billion. During the same period last year, the firm earned $0.26 earnings per share. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, analysts expect that MGM Resorts International will post 0.83 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 10th will be issued a dividend of $0.13 per share. The ex-dividend date is Monday, September 9th. This represents a $0.52 annualized dividend and a yield of 1.84%. MGM Resorts International’s dividend payout ratio is presently 52.53%.

In other news, Director Keith A. Meister purchased 2,874,578 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were bought at an average cost of $26.18 per share, for a total transaction of $75,256,452.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Keith A. Meister purchased 81,249 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was purchased at an average price of $27.99 per share, for a total transaction of $2,274,159.51. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 6,117,360 shares of company stock worth $161,200,100. Corporate insiders own 3.47% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Real Estate Management Services LLC bought a new stake in shares of MGM Resorts International in the second quarter valued at about $3,746,000. Rational Advisors LLC lifted its holdings in shares of MGM Resorts International by 1,113.8% in the first quarter. Rational Advisors LLC now owns 1,323 shares of the company’s stock valued at $34,000 after purchasing an additional 1,214 shares in the last quarter. Moors & Cabot Inc. bought a new stake in shares of MGM Resorts International in the first quarter valued at about $288,000. Retirement Systems of Alabama lifted its holdings in shares of MGM Resorts International by 0.8% in the first quarter. Retirement Systems of Alabama now owns 237,509 shares of the company’s stock valued at $6,094,000 after purchasing an additional 1,852 shares in the last quarter. Finally, Investors Research Corp bought a new stake in shares of MGM Resorts International in the first quarter valued at about $44,000. Institutional investors own 79.37% of the company’s stock.

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 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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