Deutsche Bank reiterated their hold rating on shares of MGM Resorts International (NYSE:MGM) in a research report released on Wednesday, AnalystRatings.com reports. Deutsche Bank currently has a $32.00 price objective on the stock.
A number of other analysts have also commented on MGM. Zacks Investment Research upgraded shares of MGM Resorts International from a hold rating to a buy rating and set a $31.00 price target for the company in a research note on Monday, January 21st. Morgan Stanley lifted their price target on shares of MGM Resorts International from $34.00 to $35.00 and gave the stock an overweight rating in a research note on Wednesday, March 6th. Finally, Credit Suisse Group reiterated a neutral rating and issued a $30.00 price target on shares of MGM Resorts International in a research note on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $33.50.
NYSE:MGM traded up $0.32 on Wednesday, reaching $25.99. 7,548,356 shares of the stock traded hands, compared to its average volume of 5,987,394. The firm has a market cap of $13.95 billion, a P/E ratio of 26.25, a P/E/G ratio of 3.18 and a beta of 1.37. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.82 and a current ratio of 0.78. MGM Resorts International has a 12 month low of $21.61 and a 12 month high of $33.68.
MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Monday, April 29th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.04). The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.12 billion. MGM Resorts International had a net margin of 2.26% and a return on equity of 4.03%. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.38 earnings per share. On average, equities research analysts predict that MGM Resorts International will post 0.99 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, June 10th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.00%. MGM Resorts International’s dividend payout ratio is presently 52.53%.
In related news, Director Mary Christine Gay purchased 3,700 shares of MGM Resorts International stock in a transaction dated Wednesday, March 6th. The stock was purchased at an average cost of $27.27 per share, for a total transaction of $100,899.00. Following the completion of the purchase, the director now directly owns 18,036 shares of the company’s stock, valued at approximately $491,841.72. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.47% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. First Personal Financial Services purchased a new position in shares of MGM Resorts International in the first quarter worth approximately $26,000. JOYN Advisors Inc. boosted its holdings in shares of MGM Resorts International by 377.0% in the fourth quarter. JOYN Advisors Inc. now owns 1,159 shares of the company’s stock worth $28,000 after buying an additional 916 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of MGM Resorts International by 94.3% in the first quarter. Quadrant Capital Group LLC now owns 1,259 shares of the company’s stock worth $29,000 after buying an additional 611 shares during the last quarter. Lindbrook Capital LLC purchased a new position in shares of MGM Resorts International in the fourth quarter worth approximately $34,000. Finally, Bessemer Group Inc. boosted its holdings in shares of MGM Resorts International by 579.4% in the fourth quarter. Bessemer Group Inc. now owns 1,583 shares of the company’s stock worth $38,000 after buying an additional 1,350 shares during the last quarter. 80.79% of the stock is currently owned by institutional investors.
MGM Resorts International Company Profile
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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