MGM Resorts International (NYSE:MGM) has been given a $35.00 price target by equities researchers at Morgan Stanley in a research note issued to investors on Friday. The firm presently has a “buy” rating on the stock. Morgan Stanley’s price target points to a potential upside of 13.27% from the stock’s previous close.

Several other equities research analysts have also recently commented on MGM. Instinet reaffirmed a “buy” rating and set a $40.00 target price (up previously from $35.00) on shares of MGM Resorts International in a research note on Monday, June 19th. BidaskClub cut MGM Resorts International from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 1st. Deutsche Bank AG reissued a “buy” rating and issued a $34.00 price objective on shares of MGM Resorts International in a research note on Monday, July 3rd. UBS AG reissued a “buy” rating on shares of MGM Resorts International in a research note on Monday, July 10th. Finally, Telsey Advisory Group raised their price objective on MGM Resorts International from $36.00 to $39.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have issued a buy rating to the company. MGM Resorts International has a consensus rating of “Buy” and a consensus price target of $35.56.

MGM Resorts International (MGM) opened at 30.90 on Friday. The company has a market cap of $17.77 billion, a PE ratio of 18.29 and a beta of 1.46. MGM Resorts International has a 12-month low of $25.15 and a 12-month high of $34.65. The stock’s 50 day moving average price is $32.13 and its 200 day moving average price is $31.17.

MGM Resorts International (NYSE:MGM) last released its earnings results on Thursday, July 27th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.28 by $0.03. MGM Resorts International had a return on equity of 7.97% and a net margin of 9.26%. The business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter last year, the firm posted $0.29 earnings per share. The firm’s revenue was up 16.4% on a year-over-year basis. Equities research analysts anticipate that MGM Resorts International will post $1.29 EPS for the current year.

MGM Resorts International declared that its board has authorized a share buyback plan on Tuesday, September 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 5.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

ILLEGAL ACTIVITY NOTICE: “MGM Resorts International (MGM) Given a $35.00 Price Target at Morgan Stanley” was originally published by Watch List News and is the sole property of of Watch List News. If you are reading this piece of content on another domain, it was illegally copied and republished in violation of United States & international trademark and copyright law. The correct version of this piece of content can be read at https://www.watchlistnews.com/mgm-resorts-international-mgm-given-a-35-00-price-target-at-morgan-stanley/1612296.html.

In other news, insider Robert Baldwin sold 49,179 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $33.13, for a total value of $1,629,300.27. Following the transaction, the insider now owns 145,105 shares in the company, valued at $4,807,328.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Murren sold 259,760 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $34.19, for a total value of $8,881,194.40. Following the completion of the transaction, the chief executive officer now owns 71,442 shares in the company, valued at approximately $2,442,601.98. The disclosure for this sale can be found here. Insiders sold 819,831 shares of company stock worth $27,686,927 in the last 90 days. Corporate insiders own 12.20% of the company’s stock.

Several hedge funds have recently bought and sold shares of MGM. UBS Asset Management Americas Inc. lifted its holdings in shares of MGM Resorts International by 9.9% in the first quarter. UBS Asset Management Americas Inc. now owns 1,138,469 shares of the company’s stock valued at $31,194,000 after purchasing an additional 102,486 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of MGM Resorts International by 3.4% in the first quarter. Pacer Advisors Inc. now owns 9,269 shares of the company’s stock valued at $254,000 after purchasing an additional 302 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of MGM Resorts International by 28.6% in the first quarter. Nordea Investment Management AB now owns 15,018 shares of the company’s stock valued at $411,000 after purchasing an additional 3,344 shares in the last quarter. Prudential Financial Inc. lifted its holdings in shares of MGM Resorts International by 18.0% in the first quarter. Prudential Financial Inc. now owns 34,161 shares of the company’s stock valued at $936,000 after purchasing an additional 5,200 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of MGM Resorts International by 76.7% in the first quarter. Victory Capital Management Inc. now owns 104,413 shares of the company’s stock valued at $2,861,000 after purchasing an additional 45,332 shares in the last quarter. Institutional investors own 75.17% of the company’s stock.

MGM Resorts International Company Profile

MGM Resorts International is a holding company. The Company, through its subsidiaries, owns and operates casino resorts. The Company operates in two segments: domestic resorts and MGM China. Its domestic resorts segment consists of non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities.

Analyst Recommendations for MGM Resorts International (NYSE:MGM)

Receive News & Ratings for MGM Resorts International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGM Resorts International and related companies with Analyst Ratings Network's FREE daily email newsletter.