Capital One Financial Increases MGM Resorts International (NYSE:MGM) Price Target to $57.00

MGM Resorts International (NYSE:MGM) had its price target boosted by Capital One Financial from $53.00 to $57.00 in a research report issued on Monday. The brokerage presently has an “overweight” rating on the stock. Capital One Financial‘s price target would suggest a potential upside of 50.76% from the company’s current price.

MGM has been the topic of a number of other reports. Wells Fargo & Company upgraded shares of MGM Resorts International from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $33.00 to $48.30 in a research note on Tuesday, July 7th. UBS Group reduced their price target on shares of MGM Resorts International from $50.00 to $46.00 and set a “neutral” rating for the company in a research report on Friday, September 11th. Citigroup raised their target price on shares of MGM Resorts International from $40.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, July 2nd. JPMorgan Chase & Co. increased their price target on MGM Resorts International from $46.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Finally, HSBC upgraded MGM Resorts International to a “strong-buy” rating in a research report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $52.96.

MGM Resorts International Stock Down 2.8%

Shares of MGM opened at $37.81 on Monday. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 1.80. The firm has a market cap of $9.51 billion, a P/E ratio of 22.91, a price-to-earnings-growth ratio of 1.99 and a beta of 1.28. The company’s 50-day moving average price is $42.88 and its 200 day moving average price is $41.81. MGM Resorts International has a 12-month low of $29.18 and a 12-month high of $51.59.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, July 29th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.03. MGM Resorts International had a net margin of 2.40% and a return on equity of 23.30%. The firm 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 firm earned $0.79 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, sell-side analysts forecast that MGM Resorts International will post 1.96 earnings per share for the current year.

Hedge Funds Weigh In On MGM Resorts International

Several institutional investors have recently added to or reduced their stakes in the business. State Street Corp boosted its stake in MGM Resorts International by 0.8% in the 2nd quarter. State Street Corp now owns 7,047,768 shares of the company’s stock worth $336,954,000 after buying an additional 56,072 shares during the last quarter. Geode Capital Management LLC grew its stake in MGM Resorts International by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 5,224,452 shares of the company’s stock worth $190,295,000 after buying an additional 49,613 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of 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 worth $88,050,000 after buying an additional 36,649 shares during the period. Montanova Capital LLC grew its position in MGM Resorts International by 7.7% in the second quarter. Montanova Capital LLC now owns 2,325,360 shares of the company’s stock valued at $111,175,000 after acquiring an additional 166,560 shares in the last quarter. Finally, Norges Bank purchased a new position in MGM Resorts International in the 4th quarter valued at about $82,348,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.

About MGM Resorts International

MGM Resorts International is a global hospitality and entertainment company that owns and operates destination resorts, casinos, hotels, restaurants, convention facilities and live-entertainment venues. Its properties offer casino gaming, hotel accommodations, dining, nightlife, retail, spa services, sporting events and other leisure activities.

The company operates a portfolio of resorts in Las Vegas and other U.S. markets, including properties associated with brands such as MGM Grand, Bellagio, ARIA, Mandalay Bay, Park MGM, New York-New York and MGM National Harbor.