MGM Resorts International - MGM Stock Forecast, Price & News

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and Macau. 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. The company's casino operations include slots and table games, as well as online sports betting and iGaming through BetMGM. As of February 17, 2021, its portfolio consisted of 29 hotel and destination gaming offerings. The company also owns and operates Las Vegas Strip Resorts and Fallen Oak golf course. Its customers include premium gaming customers; leisure and wholesale travel customers; business travelers; and group customers, including conventions, trade associations, and small meetings. The company was formerly known as MGM MIRAGE and changed its name to MGM Resorts International in June 2010. MGM Resorts International was incorporated in 1986 and is based in Las Vegas, Nevada.

MGM Resorts International Stock Down 1.7 %

Shares of MGM Stock traded down $0.58 during midday trading on Tuesday, reaching $33.92. 4,223,808 shares of the stock were exchanged, compared to its average volume of 5,516,293. MGM Resorts International has a 1 year low of $26.41 and a 1 year high of $51.17. The company's 50 day moving average is $31.02 and its two-hundred day moving average is $37.34. The company has a current ratio of 1.65, a quick ratio of 1.63 and a debt-to-equity ratio of 0.99. The firm has a market cap of $13.33 billion, a PE ratio of 4.75 and a beta of 2.14.

MGM Resorts International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Friday, September 9th will be paid a $0.0025 dividend. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $0.01 annualized dividend and a dividend yield of 0.03%. MGM Resorts International's payout ratio is currently 0.14%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MGM. StockNews.com cut MGM Resorts International from a "buy" rating to a "hold" rating in a research report on Friday, July 15th. JMP Securities assumed coverage on MGM Resorts International in a research report on Tuesday, June 28th. They issued an "outperform" rating and a $55.00 price target for the company. Credit Suisse Group reduced their target price on MGM Resorts International from $76.00 to $72.00 and set an "outperform" rating for the company in a research report on Thursday, August 4th. Deutsche Bank Aktiengesellschaft boosted their target price on MGM Resorts International from $48.00 to $51.00 in a research report on Thursday, August 4th. Finally, Wells Fargo & Company boosted their target price on MGM Resorts International from $49.00 to $58.00 and gave the stock an "overweight" rating in a research report on Thursday, August 4th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $53.31.

Insider Buying and Selling

In other MGM Resorts International news, Director Paul J. Salem bought 34,500 shares of the business's stock in a transaction on Monday, June 13th. The shares were acquired at an average cost of $28.92 per share, for a total transaction of $997,740.00. Following the purchase, the director now owns 1,555,000 shares in the company, valued at approximately $44,970,600. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Paul J. Salem purchased 3,500 shares of the stock in a transaction dated Wednesday, May 25th. The shares were purchased at an average cost of $31.25 per share, with a total value of $109,375.00. Following the acquisition, the director now directly owns 1,520,500 shares of the company's stock, valued at $47,515,625. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Paul J. Salem purchased 34,500 shares of the stock in a transaction dated Monday, June 13th. The shares were purchased at an average cost of $28.92 per share, for a total transaction of $997,740.00. Following the completion of the acquisition, the director now directly owns 1,555,000 shares in the company, valued at $44,970,600. The disclosure for this purchase can be found here. 2.13% of the stock is currently owned by company insiders.