MGM Resorts International (NYSE:MGM) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of MGM Resorts International (NYSE:MGM) have been assigned an average recommendation of “Moderate Buy” from the twenty-two brokerages that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, ten have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $53.3706.

A number of equities research analysts have issued reports on MGM shares. HSBC upgraded shares of MGM Resorts International to a “strong-buy” rating in a research report on Thursday, July 30th. JPMorgan Chase & Co. upped their price target on shares of MGM Resorts International from $46.00 to $53.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. Truist Financial upgraded MGM Resorts International from a “hold” rating to a “buy” rating and increased their price objective for the stock from $42.00 to $55.00 in a report on Wednesday, May 27th. Jefferies Financial Group reissued a “hold” rating on shares of MGM Resorts International in a research report on Thursday, July 2nd. Finally, Stifel Nicolaus restated a “hold” rating and issued a $49.00 target price (up from $48.00) on shares of MGM Resorts International in a research note on Monday, June 15th.

MGM Resorts International Price Performance

Shares of MGM opened at $43.72 on Monday. The business’s 50-day moving average is $45.96 and its 200-day moving average is $41.07. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.34 and a quick ratio of 1.30. The company has a market capitalization of $11.00 billion, a price-to-earnings ratio of 26.50, a P/E/G ratio of 2.24 and a beta of 1.31. MGM Resorts International has a fifty-two week low of $29.18 and a fifty-two week high of $51.59.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.56 by $0.03. The business had revenue of $4.45 billion during the quarter, compared to analysts’ expectations of $4.42 billion. MGM Resorts International had a net margin of 2.40% and a return on equity of 23.30%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company posted $0.79 earnings per share. Equities research analysts expect that MGM Resorts International will post 1.96 EPS for the current fiscal year.

Institutional Investors Weigh In On MGM Resorts International

Several institutional investors have recently made changes to their positions in MGM. Whittier Trust Co. boosted its holdings in shares of MGM Resorts International by 2.5% in the 1st quarter. Whittier Trust Co. now owns 10,778 shares of the company’s stock worth $405,000 after acquiring an additional 262 shares in the last quarter. Global Retirement Partners LLC grew its position in MGM Resorts International by 55.9% during the 4th quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock worth $29,000 after acquiring an additional 281 shares during the last quarter. Tema ETFs LLC increased its holdings in MGM Resorts International by 10.6% during the 2nd quarter. Tema ETFs LLC now owns 3,016 shares of the company’s stock valued at $144,000 after purchasing an additional 290 shares in the last quarter. Brown Brothers Harriman & Co. increased its holdings in MGM Resorts International by 23.1% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,893 shares of the company’s stock valued at $69,000 after purchasing an additional 355 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in MGM Resorts International by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 64,006 shares of the company’s stock valued at $2,218,000 after purchasing an additional 397 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.

About MGM Resorts International

MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.

The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.