MGM Resorts International (NYSE:MGM) Given Average Rating of “Moderate Buy” by Analysts

MGM Resorts International (NYSE:MGM) has been given a consensus rating of “Moderate Buy” by the fourteen ratings firms that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $55.34.

A number of equities analysts recently commented on the company. Barclays reduced their price target on MGM Resorts International from $57.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. JMP Securities reiterated a “market outperform” rating and set a $57.00 price target on shares of MGM Resorts International in a report on Wednesday, February 14th. JPMorgan Chase & Co. raised their price objective on shares of MGM Resorts International from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Mizuho initiated coverage on shares of MGM Resorts International in a research report on Tuesday, March 26th. They set a “buy” rating and a $61.00 price objective for the company. Finally, TheStreet upgraded shares of MGM Resorts International from a “c+” rating to a “b-” rating in a research report on Tuesday, February 13th.

MGM Resorts International Price Performance

Shares of NYSE MGM opened at $42.18 on Friday. MGM Resorts International has a fifty-two week low of $34.12 and a fifty-two week high of $51.35. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.57 and a quick ratio of 1.53. The stock has a market capitalization of $13.37 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 1.76 and a beta of 2.19. The business has a 50-day moving average of $43.76 and a 200-day moving average of $42.09.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.39. MGM Resorts International had a return on equity of 20.51% and a net margin of 7.07%. The business had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.14 billion. During the same quarter last year, the company posted $0.69 earnings per share. MGM Resorts International’s quarterly revenue was up 21.8% on a year-over-year basis. As a group, sell-side analysts predict that MGM Resorts International will post 2.46 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Keith A. Meister sold 325,000 shares of MGM Resorts International stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total value of $13,942,500.00. Following the completion of the sale, the director now directly owns 6,098,778 shares in the company, valued at $261,637,576.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.13% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. CVA Family Office LLC acquired a new position in MGM Resorts International during the fourth quarter valued at approximately $28,000. Sandy Spring Bank grew its stake in shares of MGM Resorts International by 140.8% during the third quarter. Sandy Spring Bank now owns 855 shares of the company’s stock worth $31,000 after buying an additional 500 shares during the last quarter. Park Place Capital Corp grew its stake in shares of MGM Resorts International by 618.1% during the third quarter. Park Place Capital Corp now owns 991 shares of the company’s stock worth $36,000 after buying an additional 853 shares during the last quarter. Accent Capital Management LLC bought a new stake in shares of MGM Resorts International during the fourth quarter worth $45,000. Finally, Mendota Financial Group LLC grew its stake in shares of MGM Resorts International by 36.0% during the first quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock worth $47,000 after buying an additional 266 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.

About MGM Resorts International

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and internationally. 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.