MGM Resorts International (NYSE:MGM) Price Target Raised to $46.00 at Morgan Stanley

MGM Resorts International (NYSE:MGM - Get Free Report) had its price objective boosted by equities researchers at Morgan Stanley from $45.00 to $46.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an "equal weight" rating on the stock. Morgan Stanley's target price points to a potential downside of 0.88% from the stock's current price.

Several other research firms have also commented on MGM. Mizuho initiated coverage on shares of MGM Resorts International in a research report on Tuesday, March 26th. They set a "buy" rating and a $61.00 price objective for the company. Bank Of America (Bofa) increased their target price on shares of MGM Resorts International from $45.00 to $50.00 and gave the company a "neutral" rating in a research note on Wednesday, February 14th. TheStreet raised shares of MGM Resorts International from a "c+" rating to a "b-" rating in a research note on Tuesday, February 13th. StockNews.com downgraded shares of MGM Resorts International from a "buy" rating to a "hold" rating in a research note on Monday, March 4th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of MGM Resorts International from $50.00 to $52.00 and gave the company a "buy" rating in a research note on Wednesday, February 14th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $55.34.

MGM Resorts International Price Performance

MGM stock traded up $0.11 during trading on Tuesday, hitting $46.41. 2,222,807 shares of the company's stock traded hands, compared to its average volume of 3,933,195. MGM Resorts International has a 52 week low of $34.12 and a 52 week high of $51.35. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.53 and a current ratio of 1.57. The business has a fifty day simple moving average of $44.17 and a 200 day simple moving average of $41.55. The stock has a market capitalization of $14.71 billion, a price-to-earnings ratio of 14.58, a P/E/G ratio of 2.02 and a beta of 2.19.

MGM Resorts International (NYSE:MGM - Get Free Report) last released its quarterly earnings data on Tuesday, February 13th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.67 by $0.39. MGM Resorts International had a net margin of 7.07% and a return on equity of 20.51%. The business had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same quarter last year, the business earned $0.69 earnings per share. MGM Resorts International's quarterly revenue was up 21.8% compared to the same quarter last year. As a group, research analysts expect that MGM Resorts International will post 2.48 EPS for the current fiscal year.

Insider Activity

In other news, Director Keith A. Meister sold 325,000 shares of MGM Resorts International stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the completion of the transaction, the director now directly owns 6,098,778 shares of the company's stock, valued at approximately $261,637,576.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.83% of the company's stock.

Institutional Investors Weigh In On MGM Resorts International

Several institutional investors and hedge funds have recently added to or reduced their stakes in MGM. Tyler Stone Wealth Management purchased a new stake in MGM Resorts International in the 2nd quarter worth $26,000. Mendota Financial Group LLC acquired a new stake in MGM Resorts International during the 3rd quarter worth $27,000. International Assets Investment Management LLC acquired a new stake in MGM Resorts International during the 3rd quarter worth $28,000. CVA Family Office LLC acquired a new stake in MGM Resorts International during the 4th quarter worth $28,000. Finally, ICA Group Wealth Management LLC acquired a new stake in MGM Resorts International during the 4th quarter worth $28,000. Hedge funds and other institutional investors own 68.11% of the company's stock.

MGM Resorts International Company Profile

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and internationally. 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.