MGM Resorts International (NYSE:MGM) Stock Gets Price Target Trim from JPMorgan Chase & Co.

MGM Resorts International (NYSE:MGM) had its price target trimmed by JPMorgan Chase & Co. from $53.00 to $42.00 in a research report report published on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities analysts have also commented on MGM. HSBC raised shares of MGM Resorts International to a “strong-buy” rating in a research report on Thursday, July 30th. The Goldman Sachs Group set a $30.00 target price on shares of MGM Resorts International in a research report on Tuesday, October 13th. Weiss Ratings raised shares of MGM Resorts International from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Mizuho cut their price target on shares of MGM Resorts International from $60.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, September 24th. Finally, Morgan Stanley decreased their price target on shares of MGM Resorts International from $43.00 to $29.00 and set an “underweight” rating for the company in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $46.71.

MGM Resorts International Trading Up 2.2%

MGM Resorts International stock opened at $29.51 on Tuesday. The stock has a 50-day moving average of $36.56 and a two-hundred day moving average of $40.88. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.30 and a current ratio of 1.34. MGM Resorts International has a one year low of $27.93 and a one year high of $51.59. The stock has a market cap of $7.42 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 1.56 and a beta of 1.35.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.03. MGM Resorts International had a return on equity of 23.30% and a net margin of 2.40%. The business had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.42 billion. During the same quarter last year, the company earned $0.79 earnings per share. The company’s quarterly revenue was up 2.2% on a year-over-year basis. On average, research analysts anticipate that MGM Resorts International will post 1.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. State Street Corp raised its stake in shares of MGM Resorts International by 0.8% in the second quarter. State Street Corp now owns 7,047,768 shares of the company’s stock worth $336,954,000 after purchasing an additional 56,072 shares during the last quarter. Montanova Capital LLC lifted its holdings in shares of MGM Resorts International by 7.7% during the second quarter. Montanova Capital LLC now owns 2,325,360 shares of the company’s stock worth $111,175,000 after purchasing an additional 166,560 shares during the period. Dimensional Fund Advisors LP boosted its position in MGM Resorts International by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,379,727 shares of the company’s stock valued at $88,050,000 after buying an additional 36,649 shares during the last quarter. Bank of New York Mellon Corp boosted its position in MGM Resorts International by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 1,598,531 shares of the company’s stock valued at $76,426,000 after buying an additional 46,268 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its position in MGM Resorts International by 5.0% in the second quarter. Allianz Asset Management GmbH now owns 1,037,941 shares of the company’s stock valued at $49,624,000 after buying an additional 49,351 shares during the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting MGM Resorts International

Here are the key news stories impacting MGM Resorts International this week:

• Positive Sentiment: Expanded sports and entertainment marketing: MGM Resorts is the title sponsor of the Pro Padel League’s Las Vegas tournament, scheduled for November 18–21. The event should create additional exposure for MGM properties and potentially drive room, food-and-beverage and casino traffic. Pro Padel League Secures Landmark Title Sponsorship with MGM Resorts International for Las Vegas Tournament
• Positive Sentiment: Formula 1 race-week plans: MGM is promoting fan experiences, culinary offerings, fashion and art activations across Bellagio, ARIA, The Cosmopolitan and Park MGM during the November 19–21 Las Vegas Grand Prix. The programming could strengthen the company’s ability to monetize a major high-demand event. MGM Resorts Formula 1 Las Vegas Grand Prix Experiences
• Positive Sentiment: New premium dining concept: MGM Grand will open Taylor Sheridan’s Four Sixes Ranch Steakhouse in early 2027. The partnership adds a distinctive, high-end restaurant attraction that may support resort traffic and spending. MGM Grand to Open Four Sixes Ranch Steakhouse
• Positive Sentiment: BetMGM partnership extended: BetMGM renewed its Canadian partnership with the NFL, preserving access to league intellectual property, marketing activations and fan experiences. The agreement supports BetMGM’s customer-acquisition and brand-building efforts. BetMGM and NFL Extend Partnership in Canada
• Neutral Sentiment: Potential acquisition interest: A law firm is investigating Barry Diller’s reported $48.30-per-share offer for MGM. The bid could establish significant upside if pursued, but the investigation introduces uncertainty and does not indicate that a transaction will close. MGM Deal Notice
• Negative Sentiment: Analysts reduced price targets: Truist Financial and Stifel Nicolaus both cut their targets for MGM, signaling diminished near-term confidence in the company’s earnings outlook and weighing on sentiment. Truist Cuts MGM Price Target Stifel Cuts MGM Price Target
• Negative Sentiment: Q3 earnings concerns: A Zacks preview expects MGM’s third-quarter earnings to decline and sees limited evidence for a likely earnings beat. That caution is an important counterweight to the company’s promotional announcements ahead of its upcoming results. MGM Q3 Earnings Preview

About MGM Resorts International

MGM Resorts International is a global hospitality and entertainment company that develops, owns, and operates destination resorts featuring casinos, hotels, restaurants, entertainment venues, convention facilities, retail spaces, and nightlife offerings. Its portfolio includes well-known properties such as MGM Grand, Bellagio, ARIA, Mandalay Bay, and The Cosmopolitan of Las Vegas.

The company serves customers through properties in Las Vegas and other U.S. markets, including regional destinations in Michigan, Maryland, Massachusetts, Mississippi, New Jersey, New York, and Ohio.