MGM Resorts International (NYSE:MGM) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• MGM Resorts has a consensus “Moderate Buy” rating from 22 analysts, with an average 12-month price target of $53.25 versus the stock’s recent $38.24 price.
• Recent analyst actions were generally positive, including upgraded or increased targets from HSBC, JPMorgan, Argus and Deutsche Bank, although UBS lowered its target to $46 and maintained a neutral rating.
• Institutional investors own 68.11% of MGM’s shares, while the company’s latest quarterly results exceeded expectations with $0.59 in EPS and $4.45 billion in revenue.

Shares of MGM Resorts International (NYSE:MGM - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the twenty-two ratings firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $53.2529.

Several research analysts have recently commented on the stock. UBS Group lowered their target price on shares of MGM Resorts International from $50.00 to $46.00 and set a "neutral" rating on the stock in a report on Friday, September 11th. HSBC raised MGM Resorts International to a "strong-buy" rating in a report on Thursday, July 30th. JPMorgan Chase & Co. upped their price target on shares of MGM Resorts International from $46.00 to $53.00 and gave the stock an "overweight" rating in a report on Friday, June 12th. Argus increased their price target on shares of MGM Resorts International from $45.00 to $55.00 and gave the stock a "buy" rating in a research report on Monday, August 17th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on MGM Resorts International from $48.00 to $55.00 and gave the stock a "buy" rating in a report on Tuesday, June 2nd.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Geode Capital Management LLC grew its stake in MGM Resorts International by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 5,224,452 shares of the company's stock valued at $190,295,000 after acquiring an additional 49,613 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of MGM Resorts International by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,379,727 shares of the company's stock worth $88,050,000 after purchasing an additional 36,649 shares in the last quarter. Montanova Capital LLC lifted its holdings in shares of MGM Resorts International by 7.7% in the 2nd quarter. Montanova Capital LLC now owns 2,325,360 shares of the company's stock worth $111,175,000 after purchasing an additional 166,560 shares in the last quarter. Norges Bank acquired a new stake in MGM Resorts International in the 4th quarter valued at $82,348,000. Finally, Bank of New York Mellon Corp increased its stake in MGM Resorts International by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,598,531 shares of the company's stock valued at $76,426,000 after purchasing an additional 46,268 shares in the last quarter. 68.11% of the stock is currently owned by institutional investors.

MGM Resorts International Stock Performance

Shares of NYSE MGM opened at $38.24 on Friday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.34 and a quick ratio of 1.30. The firm has a market cap of $9.62 billion, a price-to-earnings ratio of 23.17, a P/E/G ratio of 1.96 and a beta of 1.28. The stock's fifty day moving average price is $43.57 and its two-hundred day moving average price is $41.76. MGM Resorts International has a one year low of $29.18 and a one year high of $51.59.

MGM Resorts International (NYSE:MGM - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.03. The business had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.42 billion. MGM Resorts International had a net margin of 2.40% and a return on equity of 23.30%. MGM Resorts International's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the firm earned $0.79 earnings per share. On average, equities analysts forecast that MGM Resorts International will post 1.96 EPS for the current year.

About MGM Resorts International

MGM Resorts International is a global hospitality and entertainment company that owns and operates destination resorts, casinos, hotels, restaurants, convention facilities and live-entertainment venues. Its properties offer casino gaming, hotel accommodations, dining, nightlife, retail, spa services, sporting events and other leisure activities.

The company operates a portfolio of resorts in Las Vegas and other U.S. markets, including properties associated with brands such as MGM Grand, Bellagio, ARIA, Mandalay Bay, Park MGM, New York-New York and MGM National Harbor.

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