MGM Resorts International (NYSE:MGM) Receives Consensus Recommendation of “Hold” from Analysts

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Shares of MGM Resorts International (NYSE:MGM) have received a consensus rating of “Hold” from the fifteen analysts that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $31.90.

Several equities analysts recently commented on the stock. UBS Group increased their price objective on shares of MGM Resorts International from $31.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. SunTrust Banks initiated coverage on shares of MGM Resorts International in a research note on Friday. They issued a “hold” rating and a $35.00 target price for the company. Nomura boosted their target price on shares of MGM Resorts International from $37.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. ValuEngine lowered shares of MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th. Finally, TheStreet cut shares of MGM Resorts International from a “b-” rating to a “c” rating in a report on Wednesday, October 30th.

NYSE:MGM traded up $0.24 during mid-day trading on Monday, hitting $32.17. 3,287,642 shares of the company’s stock traded hands, compared to its average volume of 6,201,126. The company has a fifty day moving average of $30.34 and a 200 day moving average of $28.58. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.84 and a current ratio of 0.87. MGM Resorts International has a twelve month low of $21.61 and a twelve month high of $32.24. The company has a market capitalization of $16.77 billion, a P/E ratio of 32.49, a P/E/G ratio of 5.26 and a beta of 1.52.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.37). MGM Resorts International had a return on equity of 4.10% and a net margin of 0.11%. The business had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same period in the prior year, the business posted $0.24 EPS. MGM Resorts International’s revenue was up 9.4% compared to the same quarter last year. On average, research analysts expect that MGM Resorts International will post 0.9 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Tuesday, December 10th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Monday, December 9th. MGM Resorts International’s dividend payout ratio is presently 52.53%.

In other MGM Resorts International news, Director Keith A. Meister acquired 79,000 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were acquired at an average cost of $29.43 per share, with a total value of $2,324,970.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Mary Christine Gay sold 5,200 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $29.20, for a total transaction of $151,840.00. Following the completion of the sale, the director now directly owns 17,716 shares in the company, valued at $517,307.20. The disclosure for this sale can be found here. Company insiders own 3.47% of the company’s stock.

Several institutional investors have recently modified their holdings of MGM. Wetherby Asset Management Inc. lifted its holdings in shares of MGM Resorts International by 2.0% in the 3rd quarter. Wetherby Asset Management Inc. now owns 18,880 shares of the company’s stock valued at $523,000 after buying an additional 375 shares during the period. Securian Asset Management Inc lifted its holdings in MGM Resorts International by 0.7% in the second quarter. Securian Asset Management Inc now owns 52,489 shares of the company’s stock valued at $1,500,000 after acquiring an additional 376 shares during the period. Hartford Investment Management Co. boosted its position in MGM Resorts International by 0.7% in the 3rd quarter. Hartford Investment Management Co. now owns 55,491 shares of the company’s stock worth $1,538,000 after purchasing an additional 388 shares in the last quarter. Penserra Capital Management LLC boosted its position in MGM Resorts International by 8.6% in the 3rd quarter. Penserra Capital Management LLC now owns 4,971 shares of the company’s stock worth $137,000 after purchasing an additional 393 shares in the last quarter. Finally, Capital Management Associates NY grew its stake in shares of MGM Resorts International by 2.6% during the 2nd quarter. Capital Management Associates NY now owns 15,950 shares of the company’s stock worth $456,000 after purchasing an additional 400 shares during the period. 81.65% of the stock is owned by hedge funds and other institutional investors.

About MGM Resorts International

MGM Resorts International, through its subsidiaries, owns and operates integrated 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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Analyst Recommendations for MGM Resorts International (NYSE:MGM)

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