MGM Resorts International (NYSE:MGM) Stock Price Target Lowered at Wells Fargo & Company

Key Points

• Wells Fargo lowered MGM Resorts’ price target from $29 to $28 while maintaining an “equal weight” rating, implying approximately 6.09% downside from the prior close.
• Analyst sentiment remains mixed: MGM has an average “Hold” rating and a consensus target price of $45.18, despite several firms recently cutting their targets while retaining Buy or Overweight ratings.
• MGM’s latest quarterly results missed expectations, with a $0.11-per-share loss versus the anticipated $0.04 profit. Revenue totaled $4.21 billion, roughly matching forecasts but declining 0.9% year over year.

MGM Resorts International (NYSE:MGM - Get Free Report) had its target price dropped by Wells Fargo & Company from $29.00 to $28.00 in a report issued on Friday, Benzinga reports. The firm presently has an "equal weight" rating on the stock. Wells Fargo & Company's price target points to a potential downside of 6.09% from the stock's previous close.

Several other equities research analysts also recently weighed in on MGM. HSBC raised MGM Resorts International to a "strong-buy" rating in a report on Thursday, July 30th. Barclays dropped their price objective on shares of MGM Resorts International from $37.00 to $34.00 and set an "equal weight" rating on the stock in a research note on Thursday. UBS Group cut their price objective on shares of MGM Resorts International from $50.00 to $46.00 and set a "neutral" rating for the company in a research report on Friday, September 11th. Truist Financial reduced their target price on shares of MGM Resorts International from $45.00 to $40.00 and set a "buy" rating for the company in a research note on Thursday. Finally, JPMorgan Chase & Co. lowered their target price on shares of MGM Resorts International from $42.00 to $39.00 and set an "overweight" rating on the stock in a report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, MGM Resorts International presently has an average rating of "Hold" and a consensus target price of $45.18.

MGM Resorts International Stock Performance

NYSE MGM traded up $0.98 on Friday, reaching $29.82. The stock had a trading volume of 2,572,700 shares, compared to its average volume of 4,392,614. The stock has a market cap of $7.50 billion, a P/E ratio of 11.33, a price-to-earnings-growth ratio of 1.52 and a beta of 1.35. MGM Resorts International has a 12-month low of $26.71 and a 12-month high of $51.59. The business's 50-day moving average price is $35.06 and its 200 day moving average price is $39.03. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.30 and a current ratio of 1.34.

MGM Resorts International (NYSE:MGM - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.15). The company had revenue of $4.21 billion for the quarter, compared to analysts' expectations of $4.21 billion. MGM Resorts International had a return on equity of 20.67% and a net margin of 3.92%. The business's quarterly revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.24 EPS. As a group, equities analysts expect that MGM Resorts International will post 1.79 earnings per share for the current year.

Institutional Investors Weigh In On MGM Resorts International

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC acquired a new stake in shares of MGM Resorts International in the first quarter valued at about $30,000. Latitude Advisors LLC acquired a new position in MGM Resorts International during the third quarter worth about $27,000. Optiver Holding B.V. purchased a new position in MGM Resorts International in the first quarter valued at about $35,000. Fiduciary Financial Advisors purchased a new position in MGM Resorts International in the second quarter valued at about $48,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of MGM Resorts International during the 2nd quarter valued at approximately $53,000. Institutional investors and hedge funds own 68.11% of the company's stock.

Key Stories Impacting MGM Resorts International

Here are the key news stories impacting MGM Resorts International this week:

• Positive Sentiment: Macau operations set records: MGM China reported record quarterly revenue and a record 17.1% market share, benefiting from stronger tourist arrivals. Revenue in the China business rose 5% to approximately $1.1 billion. MGM China Reports 2026 Third-Quarter Results
• Positive Sentiment: Digital gaming continues to grow: BetMGM net revenue from operations increased 7% year over year in the third quarter. Its Alberta launch has reportedly gained momentum faster than the Ontario launch after 100 days, adding to the long-term growth opportunity. BetMGM Marks 100 Days in Alberta
• Positive Sentiment: Some Las Vegas trends remain resilient: Third-quarter Las Vegas slot win reached a new resort record, while regional operations revenue increased 1% on a same-store basis. BetMGM distributions and branding fees contributed $34 million to MGM Resorts during the quarter. MGM Resorts Third-Quarter Results
• Neutral Sentiment: Analysts remain broadly constructive but lowered targets: JPMorgan reduced its target to $39 while retaining an overweight rating; Truist cut its target to $40 and kept a buy rating; and Stifel lowered its target to $35 with a hold rating. The revisions reflect near-term concerns but imply substantial upside from recent levels.
• Negative Sentiment: Third-quarter earnings missed expectations: MGM reported a loss of $0.11 per share versus the $0.04 consensus estimate, while revenue of $4.21 billion was down 0.9% year over year and roughly in line with forecasts. MGM Resorts Q3 Earnings Miss Estimates
• Negative Sentiment: Las Vegas weakness is the main concern: Lower room rates and weaker profitability weighed on results, offsetting growth in Macau and digital operations. The stock remains well below its 50-day and 200-day moving averages, indicating continued investor skepticism about the near-term recovery.

About MGM Resorts International

MGM Resorts International is a global hospitality and entertainment company that develops, owns, and operates destination resorts featuring casinos, hotels, restaurants, entertainment venues, convention facilities, retail spaces, and nightlife offerings. Its portfolio includes well-known properties such as MGM Grand, Bellagio, ARIA, Mandalay Bay, and The Cosmopolitan of Las Vegas.

The company serves customers through properties in Las Vegas and other U.S. markets, including regional destinations in Michigan, Maryland, Massachusetts, Mississippi, New Jersey, New York, and Ohio.

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