MGM Resorts International (NYSE:MGM) had its price objective lifted by Telsey Advisory Group from $36.00 to $39.00 in a research report report published on Friday, Marketbeat Ratings reports. Telsey Advisory Group currently has an outperform rating on the stock.

Several other analysts have also issued reports on MGM. UBS AG restated a buy rating on shares of MGM Resorts International in a research report on Tuesday, April 11th. BidaskClub upgraded shares of MGM Resorts International from a buy rating to a strong-buy rating in a research report on Tuesday, July 25th. Instinet restated a buy rating and set a $35.00 price target (up from $34.00) on shares of MGM Resorts International in a research report on Saturday, April 29th. Aegis restated a buy rating and set a $35.00 price target (up from $33.00) on shares of MGM Resorts International in a research report on Saturday, April 29th. Finally, CLSA restated an outperform rating on shares of MGM Resorts International in a research report on Friday, April 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nineteen have given a buy rating to the stock. MGM Resorts International presently has an average rating of Buy and a consensus target price of $34.50.

MGM Resorts International (MGM) opened at 32.93 on Friday. The company has a market capitalization of $18.94 billion, a price-to-earnings ratio of 19.49 and a beta of 1.47. The company’s 50-day moving average price is $32.59 and its 200 day moving average price is $29.78. MGM Resorts International has a 12 month low of $23.38 and a 12 month high of $34.53.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Thursday, July 27th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.03. MGM Resorts International had a net margin of 9.26% and a return on equity of 7.97%. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same period in the previous year, the business earned $0.29 earnings per share. The firm’s quarterly revenue was up 16.4% compared to the same quarter last year. Analysts forecast that MGM Resorts International will post $1.27 EPS for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Monday, September 11th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Friday, September 8th. MGM Resorts International’s dividend payout ratio (DPR) is presently 26.04%.

In other news, Director Rose Mckinney-James sold 880 shares of the stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $30.95, for a total transaction of $27,236.00. Following the sale, the director now owns 100 shares in the company, valued at $3,095. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP John Mcmanus sold 10,000 shares of the stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $31.28, for a total transaction of $312,800.00. Following the sale, the executive vice president now owns 46,917 shares in the company, valued at approximately $1,467,563.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,367 shares of company stock worth $1,334,623. Corporate insiders own 12.20% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in shares of MGM Resorts International by 9,411.8% in the first quarter. BlackRock Inc. now owns 22,704,066 shares of the company’s stock valued at $622,092,000 after buying an additional 22,465,373 shares in the last quarter. Harris Associates L P boosted its stake in shares of MGM Resorts International by 40.7% in the first quarter. Harris Associates L P now owns 23,573,669 shares of the company’s stock valued at $645,919,000 after buying an additional 6,814,070 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of MGM Resorts International by 8.4% in the first quarter. Vanguard Group Inc. now owns 39,845,368 shares of the company’s stock valued at $1,091,763,000 after buying an additional 3,096,490 shares in the last quarter. Canyon Capital Advisors LLC boosted its stake in shares of MGM Resorts International by 19.3% in the first quarter. Canyon Capital Advisors LLC now owns 17,818,760 shares of the company’s stock valued at $488,234,000 after buying an additional 2,877,500 shares in the last quarter. Finally, Janus Capital Management LLC boosted its stake in shares of MGM Resorts International by 297.5% in the first quarter. Janus Capital Management LLC now owns 2,876,597 shares of the company’s stock valued at $78,819,000 after buying an additional 2,152,863 shares in the last quarter. Hedge funds and other institutional investors own 73.66% of the company’s stock.

About MGM Resorts International

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)

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