Analysts Set MGM Resorts International (NYSE:MGM) Target Price at $53.37

MGM Resorts International (NYSE:MGM) has been given a consensus recommendation of “Moderate Buy” by the twenty-two ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $53.3706.

Several research analysts have commented on the stock. Jefferies Financial Group restated a “hold” rating on shares of MGM Resorts International in a research report on Thursday, July 2nd. Barclays lifted their price target on MGM Resorts International from $39.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. HSBC raised MGM Resorts International to a “strong-buy” rating in a report on Thursday, July 30th. Morgan Stanley restated an “underweight” rating on shares of MGM Resorts International in a research report on Wednesday, July 22nd. Finally, Weiss Ratings raised MGM Resorts International from a “sell (d+)” rating to a “hold (c)” rating in a research note on Thursday, July 30th.

Institutional Investors Weigh In On MGM Resorts International

A number of hedge funds and other institutional investors have recently modified their holdings of MGM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in MGM Resorts International by 5.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,652 shares of the company’s stock valued at $582,000 after buying an additional 951 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of MGM Resorts International by 12.1% during the 1st quarter. NewEdge Advisors LLC now owns 3,893 shares of the company’s stock worth $115,000 after buying an additional 421 shares in the last quarter. Woodline Partners LP raised its position in shares of MGM Resorts International by 39.1% during the 1st quarter. Woodline Partners LP now owns 18,901 shares of the company’s stock worth $560,000 after buying an additional 5,312 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of MGM Resorts International by 57.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,248 shares of the company’s stock worth $112,000 after acquiring an additional 1,182 shares during the period. Finally, Jump Financial LLC lifted its stake in shares of MGM Resorts International by 221.9% in the 2nd quarter. Jump Financial LLC now owns 26,782 shares of the company’s stock worth $921,000 after acquiring an additional 18,463 shares during the period. 68.11% of the stock is currently owned by institutional investors.

MGM Resorts International Stock Performance

Shares of MGM opened at $42.39 on Monday. The firm has a fifty day moving average of $45.53 and a 200-day moving average of $41.28. The company has a market cap of $10.66 billion, a price-to-earnings ratio of 25.69, a price-to-earnings-growth ratio of 2.20 and a beta of 1.31. 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 1 year low of $29.18 and a 1 year high of $51.59.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. The business had revenue of $4.45 billion for 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 company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.79 EPS. As a group, equities analysts anticipate that MGM Resorts International will post 1.96 earnings per share for the current year.

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.