MGM Resorts International (NYSE:MGM) Price Target Cut to $51.00

MGM Resorts International (NYSE:MGMGet Rating) had its price objective lowered by investment analysts at Morgan Stanley from $56.00 to $51.00 in a note issued to investors on Monday, The Fly reports. Morgan Stanley’s price objective indicates a potential upside of 24.15% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Susquehanna Bancshares upgraded shares of MGM Resorts International from a “negative” rating to a “neutral” rating and raised their price objective for the stock from $36.00 to $45.00 in a report on Friday, March 18th. Credit Suisse Group raised their price objective on shares of MGM Resorts International from $74.00 to $76.00 and gave the stock an “outperform” rating in a report on Thursday, February 10th. Stifel Nicolaus lifted their price target on shares of MGM Resorts International from $53.00 to $55.00 and gave the company a “hold” rating in a research note on Thursday, February 10th. Macquarie lifted their price target on shares of MGM Resorts International from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, February 10th. Finally, TheStreet lowered shares of MGM Resorts International from a “b-” rating to a “c+” rating in a research note on Tuesday, March 8th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, MGM Resorts International presently has a consensus rating of “Buy” and a consensus price target of $53.99.

Shares of NYSE:MGM opened at $41.08 on Monday. MGM Resorts International has a 12 month low of $35.72 and a 12 month high of $51.17. The company has a quick ratio of 1.84, a current ratio of 1.86 and a debt-to-equity ratio of 1.07. The company’s fifty day simple moving average is $41.85 and its 200 day simple moving average is $43.61. The firm has a market cap of $17.88 billion, a price-to-earnings ratio of 16.77 and a beta of 2.32.

MGM Resorts International (NYSE:MGMGet Rating) last issued its quarterly earnings data on Wednesday, February 9th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.10. MGM Resorts International had a net margin of 12.96% and a negative return on equity of 2.23%. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same period last year, the business posted ($0.90) earnings per share. Research analysts expect that MGM Resorts International will post 0.42 earnings per share for the current fiscal year.

In related news, Director Janet Swartz bought 5,628 shares of MGM Resorts International stock in a transaction that occurred on Thursday, February 17th. The stock was acquired at an average price of $44.13 per share, with a total value of $248,363.64. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Keith A. Meister sold 4,500,000 shares of the business’s stock in a transaction dated Monday, February 14th. The shares were sold at an average price of $45.00, for a total transaction of $202,500,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 4,513,350 shares of company stock valued at $203,076,165 in the last ninety days. 2.13% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Chilton Capital Management LLC bought a new stake in MGM Resorts International in the 4th quarter valued at about $25,000. Moors & Cabot Inc. boosted its holdings in MGM Resorts International by 62.3% in the 3rd quarter. Moors & Cabot Inc. now owns 25,000 shares of the company’s stock valued at $27,000 after purchasing an additional 9,599 shares during the period. UMB Bank N A MO bought a new stake in MGM Resorts International in the 4th quarter valued at about $29,000. GPS Wealth Strategies Group LLC boosted its holdings in MGM Resorts International by 280.0% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 760 shares of the company’s stock valued at $32,000 after purchasing an additional 560 shares during the period. Finally, Creative Financial Designs Inc. ADV boosted its holdings in MGM Resorts International by 60.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 800 shares of the company’s stock valued at $36,000 after purchasing an additional 300 shares during the period. 64.50% of the stock is owned by hedge funds and other institutional investors.

MGM Resorts International Company Profile (Get Rating)

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and Macau. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.

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