MGM Resorts International (NYSE:MGM) Stock Now Rated "Hold" by Wall Street Analysts

Key Points

• Analysts collectively rate MGM Resorts “Hold.” Among 22 analysts, nine recommend buying, two strongly recommend buying, eight rate it a hold and three recommend selling; the average 12-month price target is $50.72.
• MGM shares opened at $29.32, near their 52-week low of $28.72 and well below the $51.59 high. Recent analyst actions were mixed, including a $40 neutral target from Bank of America and a reduced $41 target from Susquehanna.
• The company slightly exceeded quarterly expectations, reporting $0.59 in EPS versus $0.56 expected and $4.45 billion in revenue versus $4.42 billion expected. Institutional investors own approximately 68.11% of the stock.

MGM Resorts International (NYSE:MGM - Get Free Report) has been assigned an average recommendation of "Hold" from the twenty-two analysts that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $50.72.

Several equities research analysts have recently issued reports on MGM shares. Weiss Ratings upgraded shares of MGM Resorts International from a "sell (d+)" rating to a "hold (c)" rating in a research note on Thursday, July 30th. Jefferies Financial Group reiterated a "hold" rating on shares of MGM Resorts International in a research note on Thursday, July 2nd. Bank of America initiated coverage on MGM Resorts International in a report on Thursday, September 24th. They set a "neutral" rating and a $40.00 price objective for the company. Susquehanna reduced their price objective on MGM Resorts International from $46.00 to $41.00 and set a "positive" rating for the company in a report on Thursday. Finally, Stifel Nicolaus reissued a "hold" rating and issued a $49.00 target price (up from $48.00) on shares of MGM Resorts International in a research report on Monday, June 15th.

MGM Resorts International Stock Performance

NYSE MGM opened at $29.32 on Tuesday. MGM Resorts International has a 52-week low of $28.72 and a 52-week high of $51.59. The company has a 50-day simple moving average of $39.01 and a 200 day simple moving average of $41.32. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.30 and a current ratio of 1.34. The company has a market capitalization of $7.38 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 1.50 and a beta of 1.35.

MGM Resorts International (NYSE:MGM - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates of $0.56 by $0.03. MGM Resorts International had a net margin of 2.40% and a return on equity of 23.30%. The firm had revenue of $4.45 billion for the quarter, compared to analysts' expectations of $4.42 billion. During the same period in the previous year, the company earned $0.79 earnings per share. The company's quarterly revenue was up 2.2% on a year-over-year basis. On average, research analysts predict that MGM Resorts International will post 1.95 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Whittier Trust Co. boosted its position in MGM Resorts International by 2.5% during the first quarter. Whittier Trust Co. now owns 10,778 shares of the company's stock worth $405,000 after purchasing an additional 262 shares during the period. Tema ETFs LLC raised its position in shares of MGM Resorts International by 10.6% in the second quarter. Tema ETFs LLC now owns 3,016 shares of the company's stock valued at $144,000 after purchasing an additional 290 shares during the period. New Mexico Educational Retirement Board raised its position in shares of MGM Resorts International by 4.4% in the second quarter. New Mexico Educational Retirement Board now owns 9,550 shares of the company's stock valued at $457,000 after purchasing an additional 400 shares during the period. Versant Capital Management Inc raised its position in shares of MGM Resorts International by 41.3% in the third quarter. Versant Capital Management Inc now owns 1,437 shares of the company's stock valued at $45,000 after purchasing an additional 420 shares during the period. Finally, HB Wealth Management LLC lifted its stake in shares of MGM Resorts International by 2.9% during the 1st quarter. HB Wealth Management LLC now owns 16,440 shares of the company's stock valued at $608,000 after buying an additional 458 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company's stock.

About MGM Resorts International

MGM Resorts International is a global hospitality and entertainment company that develops, owns and operates destination resorts with casinos, hotels, restaurants, retail, entertainment venues, meeting facilities and other leisure offerings. Its properties operate under brands including MGM Grand, Bellagio, ARIA, Mandalay Bay, The Cosmopolitan of Las Vegas, Park MGM, New York-New York and MGM National Harbor.

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

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