MGM Resorts International (MGM) Stock Forecast, Price & News

10 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for MGM Resorts International in the last year. There are currently 2 hold ratings and 8 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "moderate buy" MGM shares.
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10 brokerages have issued 1-year price targets for MGM Resorts International's shares. Their MGM share price forecasts range from $45.00 to $75.00. On average, they anticipate the company's stock price to reach $58.86 in the next twelve months. This suggests a possible upside of 63.5% from the stock's current price.
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MGM Resorts International's stock was trading at $33.53 on January 1st, 2023. Since then, MGM shares have increased by 7.4% and is now trading at $36.01.
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MGM Resorts International saw a decline in short interest in the month of August. As of August 31st, there was short interest totaling 11,760,000 shares, a decline of 17.9% from the August 15th total of 14,330,000 shares. Based on an average daily volume of 4,440,000 shares, the days-to-cover ratio is presently 2.6 days. Currently, 4.1% of the shares of the stock are sold short.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, November 1st 2023.
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MGM Resorts International (NYSE:MGM) announced its quarterly earnings results on Wednesday, August, 2nd. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.53 by $0.06. The business earned $3.94 billion during the quarter, compared to the consensus estimate of $3.82 billion. MGM Resorts International had a trailing twelve-month return on equity of 2.10% and a net margin of 2.53%. The business's quarterly revenue was up 20.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.03 earnings per share.
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MGM Resorts International declared a quarterly dividend on Wednesday, November 2nd. Shareholders of record on Friday, December 9th will be paid a dividend of $0.0025 per share on Thursday, December 15th. This represents a $0.01 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 8th.
Read our dividend analysis for MGM.

ETFs with the largest weight of MGM Resorts International (NYSE:MGM) stock in their portfolio include AdvisorShares Gerber Kawasaki ETF (GK), AdvisorShares Vice ETF (VICE), VanEck Gaming ETF (BJK), AdvisorShares Hotel ETF (BEDZ), Roundhill Sports Betting & iGaming ETF (BETZ), Pinnacle Focused Opportunities ETF (FCUS), iBET Sports Betting & Gaming ETF (IBET) and Invesco Leisure and Entertainment ETF (PEJ).

MGM Resorts International announced that its Board of Directors has approved a share buyback plan on Wednesday, February 8th 2023, which allows the company to buyback $2,000,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization allows the company to reacquire up to 12.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its stock is undervalued.

83 employees have rated MGM Resorts International Chief Executive Officer Bill Hornbuckle on Glassdoor.com. Bill Hornbuckle has an approval rating of 65% among the company's employees.

Based on aggregate information from My MarketBeat watchlists, some companies that other MGM Resorts International investors own include Walt Disney (DIS), Bank of America (BAC), Delta Air Lines (DAL), NVIDIA (NVDA), Alibaba Group (BABA), Tesla (TSLA), Boeing (BA), Las Vegas Sands (LVS), Intel (INTC) and AT&T (t).

MGM Resorts International trades on the New York Stock Exchange (NYSE) under the ticker symbol "MGM."

MGM Resorts International's stock is owned by a number of institutional and retail investors. Top institutional investors include BlackRock Inc. (6.33%), State Street Corp (3.45%), Geode Capital Management LLC (1.81%), Canada Pension Plan Investment Board (1.56%), Fisher Asset Management LLC (1.26%) and Dimensional Fund Advisors LP (0.98%). Insiders that own company stock include Alexis Herman, Corey Ian Sanders, Daniel J Taylor, Iac Inc, Janet Swartz, John Mcmanus, Keith A Meister, Mary Chris Jammet, Paul J Salem, Rose Mckinney-James, Todd Meinert, William Hornbuckle and William Warwick Grounds.
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Shares of MGM stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of MGM stock can currently be purchased for approximately $36.01.

MGM Resorts International (NYSE:MGM) has a market capitalization of $12.64 billion and generates $13.13 billion in revenue each year. The company earns $1.47 billion in net income (profit) each year or $1.03 on an earnings per share basis.

The company employs 46,000 workers across the globe.

MGM Resorts International's mailing address is 3600 LAS VEGAS BLVD SOUTH, LAS VEGAS NV, 89109. The official website for the company is www.mgmresorts.com. The company can be reached via phone at (702) 693-7120, via email at ir@mgmresorts.com, or via fax at 702-693-8626.