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

10 Wall Street equities 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 equities research analysts is that investors should "moderate buy" MGM shares.
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10 analysts have issued 12 month price targets for MGM Resorts International's shares. Their MGM share price forecasts range from $45.00 to $75.00. On average, they expect the company's stock price to reach $58.86 in the next twelve months. This suggests a possible upside of 59.0% from the stock's current price.
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MGM Resorts International's stock was trading at $33.53 at the beginning of 2023. Since then, MGM stock has increased by 10.4% and is now trading at $37.03.
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MGM Resorts International saw a decrease in short interest during the month of August. As of August 31st, there was short interest totaling 11,760,000 shares, a decrease of 17.9% from the August 15th total of 14,330,000 shares. Based on an average daily trading volume, of 4,440,000 shares, the days-to-cover ratio is currently 2.6 days. Approximately 4.1% of the shares of the stock are short sold.
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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 earnings results on Wednesday, August, 2nd. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.06. The firm had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.82 billion. MGM Resorts International had a net margin of 2.53% and a trailing twelve-month return on equity of 2.10%. The company's quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.03 earnings per share.
Read the conference call transcript.

MGM Resorts International announced a quarterly dividend on Wednesday, November 2nd. Shareholders of record on Friday, December 9th will be given a dividend of $0.0025 per share on Thursday, December 15th. This represents a $0.01 annualized dividend and a dividend 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 declared that its Board of Directors has initiated a share buyback program on Wednesday, February 8th 2023, which authorizes the company to buyback $2,000,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization authorizes the company to buy up to 12.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership 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 shareholders 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 $37.03.

MGM Resorts International (NYSE:MGM) has a market capitalization of $12.99 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.