Morgan Stanley reiterated their buy rating on shares of MGM Resorts International (NYSE:MGM) in a report released on Monday morning.

A number of other research analysts also recently commented on MGM. Barclays decreased their price objective on shares of MGM Resorts International from $39.00 to $37.00 and set an overweight rating for the company in a research report on Monday, August 6th. Zacks Investment Research raised shares of MGM Resorts International from a strong sell rating to a hold rating in a research report on Wednesday, August 8th. Credit Suisse Group initiated coverage on shares of MGM Resorts International in a research report on Tuesday, August 14th. They issued a neutral rating and a $31.00 price objective for the company. Bank of America reissued a buy rating and issued a $30.00 price objective on shares of MGM Resorts International in a research report on Tuesday, October 16th. Finally, Sanford C. Bernstein initiated coverage on shares of MGM Resorts International in a research report on Thursday, November 15th. They issued a market perform rating for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of Hold and an average price target of $36.36.

Shares of MGM opened at $27.00 on Monday. MGM Resorts International has a one year low of $23.81 and a one year high of $38.41. The stock has a market capitalization of $14.21 billion, a PE ratio of 26.47, a PEG ratio of 4.59 and a beta of 1.40. The company has a quick ratio of 0.71, a current ratio of 0.74 and a debt-to-equity ratio of 1.36.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Tuesday, October 30th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.06. MGM Resorts International had a net margin of 16.75% and a return on equity of 4.51%. The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter last year, the firm posted $0.34 EPS. The company’s quarterly revenue was up 7.0% on a year-over-year basis. On average, research analysts forecast that MGM Resorts International will post 1.08 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Monday, December 10th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Friday, December 7th. MGM Resorts International’s payout ratio is 47.06%.

In related news, insider Phyllis James sold 15,815 shares of MGM Resorts International stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $28.26, for a total transaction of $446,931.90. Following the completion of the sale, the insider now owns 13,164 shares of the company’s stock, valued at approximately $372,014.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.43% of the company’s stock.

Several hedge funds have recently made changes to their positions in MGM. Cornerstone Wealth Management LLC bought a new stake in shares of MGM Resorts International during the 2nd quarter worth about $250,000. Piedmont Investment Advisors LLC bought a new stake in shares of MGM Resorts International during the 2nd quarter worth about $170,000. Massachusetts Financial Services Co. MA raised its stake in MGM Resorts International by 3.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,184,338 shares of the company’s stock worth $34,381,000 after purchasing an additional 38,400 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in MGM Resorts International by 13.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 53,964 shares of the company’s stock worth $1,567,000 after purchasing an additional 6,435 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD raised its stake in MGM Resorts International by 10.4% in the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 37,137 shares of the company’s stock worth $1,078,000 after purchasing an additional 3,484 shares in the last quarter. 80.85% of the stock is owned by institutional investors and hedge funds.

About MGM Resorts International

MGM Resorts International, through its subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts in the United States and China. The company operates through two segments, Domestic Resorts and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.

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Analyst Recommendations for MGM Resorts International (NYSE:MGM)

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