Susquehanna Lowers MGM Resorts International (NYSE:MGM) Price Target to $46.00

MGM Resorts International (NYSE:MGM) had its price target dropped by Susquehanna from $55.00 to $46.00 in a report issued on Thursday. The firm currently has a “positive” rating on the stock. Susquehanna’s target price suggests a potential upside of 21.67% from the company’s current price.

MGM has been the topic of several other research reports. Morgan Stanley reiterated an “underweight” rating on shares of MGM Resorts International in a report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft raised their target price on MGM Resorts International from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Weiss Ratings raised shares of MGM Resorts International from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday, July 30th. Argus upped their price objective on shares of MGM Resorts International from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, August 17th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $49.00 price objective (up from $48.00) on shares of MGM Resorts International in a report on Monday, June 15th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.96.

MGM Resorts International Stock Performance

MGM opened at $37.81 on Thursday. The company 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 has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 1.80. The firm’s 50-day moving average price is $42.88 and its 200-day moving average price is $41.81. MGM Resorts International has a 52-week low of $29.18 and a 52-week high of $51.59.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.42 billion. During the same quarter in the prior year, the business posted $0.79 EPS. MGM Resorts International’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, equities analysts anticipate that MGM Resorts International will post 1.96 EPS for the current fiscal year.

Institutional Investors Weigh In On MGM Resorts International

Hedge funds and other institutional investors have recently bought and sold shares of the company. J. Goldman & Co LP purchased a new stake in shares of MGM Resorts International in the 2nd quarter valued at approximately $1,815,000. Man Group plc acquired a new position in MGM Resorts International in the second quarter valued at approximately $25,771,000. Groupe la Francaise purchased a new position in MGM Resorts International in the second quarter worth approximately $2,725,000. Tidal Investments LLC increased its stake in MGM Resorts International by 154.6% during the second quarter. Tidal Investments LLC now owns 102,642 shares of the company’s stock worth $4,907,000 after acquiring an additional 62,330 shares during the last quarter. Finally, Bastion Asset Management Inc. purchased a new stake in MGM Resorts International in the 1st quarter valued at about $6,212,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.

MGM Resorts International Company Profile

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.