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 "buy" MGM shares.
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10 Wall Street analysts have issued 12 month price targets for MGM Resorts International's stock. Their MGM share price forecasts range from $40.00 to $75.00. On average, they predict the company's stock price to reach $56.13 in the next twelve months. This suggests a possible upside of 37.9% 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 21.4% and is now trading at $40.71.
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MGM Resorts International saw a drop in short interest during the month of April. As of April 30th, there was short interest totaling 7,050,000 shares, a drop of 15.2% from the April 15th total of 8,310,000 shares. Based on an average trading volume of 4,480,000 shares, the days-to-cover ratio is currently 1.6 days. Currently, 2.4% of the shares of the stock are sold short.
View MGM Resorts International's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Wednesday, August 2nd 2023.
View our MGM earnings forecast.

MGM Resorts International (NYSE:MGM) announced its earnings results on Monday, May, 1st. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.04 by $0.40. The firm earned $3.90 billion during the quarter, compared to the consensus estimate of $3.61 billion. MGM Resorts International had a negative trailing twelve-month return on equity of 1.33% and a net margin of 13.84%. MGM Resorts International's revenue was up 36.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.01 EPS.
Read the conference call transcript.

MGM Resorts International announced a quarterly dividend on Wednesday, November 2nd. Stockholders 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 annualized dividend and a dividend yield of 0.02%. The ex-dividend date 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), VanEck Gaming ETF (BJK), iBET Sports Betting & Gaming ETF (IBET), Roundhill Sports Betting & iGaming ETF (BETZ), Alger Mid Cap 40 ETF (FRTY), Alger 35 ETF (ATFV), First Trust S-Network Streaming and Gaming ETF (BNGE) and B.A.D. Etf (BAD).

MGM Resorts International announced that its Board of Directors has approved a share repurchase plan on Wednesday, February 8th 2023, which permits the company to repurchase $2,000,000,000.00 in outstanding shares, according to EventVestor. This repurchase authorization permits the company to buy up to 12.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's leadership believes its shares are 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. (6.03%), State Street Corp (3.26%), Geode Capital Management LLC (1.78%), Fisher Asset Management LLC (1.17%), Dimensional Fund Advisors LP (1.01%) and Southeastern Asset Management Inc. TN (0.90%). 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 $40.71.

MGM Resorts International (NYSE:MGM) has a market capitalization of $14.81 billion and generates $13.13 billion in revenue each year. The company earns $1.47 billion in net income (profit) each year or $4.68 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.