MGM Resorts International (NYSE:MGM) had its price objective decreased by SunTrust Banks from $35.00 to $34.00 in a research report report published on Thursday, BenzingaRatingsTable reports. SunTrust Banks currently has a hold rating on the stock. SunTrust Banks also issued estimates for MGM Resorts International’s Q2 2020 earnings at $0.29 EPS.

A number of other research analysts have also recently commented on MGM. TheStreet cut shares of MGM Resorts International from a b- rating to a c rating in a research report on Wednesday, October 30th. Morgan Stanley reduced their price target on shares of MGM Resorts International from $36.00 to $34.00 and set an equal weight rating on the stock in a research report on Thursday. UBS Group increased their price target on shares of MGM Resorts International from $31.00 to $34.00 and gave the company a neutral rating in a research report on Thursday, November 14th. Zacks Investment Research upgraded shares of MGM Resorts International from a hold rating to a buy rating and set a $34.00 price target on the stock in a research report on Friday, February 7th. Finally, Cfra cut shares of MGM Resorts International to a sell rating in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $32.92.

MGM traded down $0.28 on Thursday, reaching $31.52. The company had a trading volume of 10,274,889 shares, compared to its average volume of 6,179,432. The business has a 50 day simple moving average of $32.66 and a 200 day simple moving average of $30.35. The company has a market cap of $16.36 billion, a price-to-earnings ratio of -3,152.00, a P/E/G ratio of 2.14 and a beta of 1.50. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.84 and a current ratio of 0.87. MGM Resorts International has a 52-week low of $23.68 and a 52-week high of $34.63.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, February 12th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.16). The company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.21 billion. MGM Resorts International had a net margin of 0.11% and a return on equity of 4.10%. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.06) earnings per share. As a group, equities research analysts predict that MGM Resorts International will post 0.88 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Tuesday, March 10th will be given a dividend of $0.15 per share. This is a boost from MGM Resorts International’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Monday, March 9th. MGM Resorts International’s dividend payout ratio (DPR) is presently 52.53%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Price Wealth LLC bought a new position in MGM Resorts International during the fourth quarter valued at approximately $38,000. NuWave Investment Management LLC grew its holdings in shares of MGM Resorts International by 436.9% in the fourth quarter. NuWave Investment Management LLC now owns 1,396 shares of the company’s stock worth $46,000 after purchasing an additional 1,136 shares during the last quarter. Rational Advisors LLC grew its holdings in shares of MGM Resorts International by 35.7% in the fourth quarter. Rational Advisors LLC now owns 1,396 shares of the company’s stock worth $46,000 after purchasing an additional 367 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of MGM Resorts International by 22.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,965 shares of the company’s stock worth $57,000 after purchasing an additional 365 shares during the last quarter. Finally, Stephens Inc. AR grew its holdings in shares of MGM Resorts International by 33.6% in the third quarter. Stephens Inc. AR now owns 2,193 shares of the company’s stock worth $61,000 after purchasing an additional 552 shares during the last quarter. Institutional investors and hedge funds own 81.58% of the company’s stock.

About MGM Resorts International

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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