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.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Morgan Stanley reduced their price objective on MGM Resorts International from $56.00 to $51.00 and set an "equal weight" rating for the company in a report on Monday, April 25th. UBS Group cut their price target on MGM Resorts International to $40.00 in a report on Thursday, June 9th. Credit Suisse Group cut their price target on MGM Resorts International from $76.00 to $72.00 and set an "outperform" rating for the company in a report on Thursday, August 4th. StockNews.com cut MGM Resorts International from a "buy" rating to a "hold" rating in a report on Friday, July 15th. Finally, JMP Securities initiated coverage on MGM Resorts International in a report on Tuesday, June 28th. They issued an "outperform" rating and a $55.00 price target for the company. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, MGM Resorts International currently has a consensus rating of "Moderate Buy" and an average target price of $53.31.

MGM Resorts International Trading Up 1.2 %

MGM Stock traded up $0.43 during trading on Thursday, reaching $34.91. 4,128,516 shares of the stock traded hands, compared to its average volume of 5,505,478. The business's 50 day moving average price is $31.02 and its 200-day moving average price is $37.32. MGM Resorts International has a 52-week low of $26.41 and a 52-week high of $51.17. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.65 and a quick ratio of 1.63. The firm has a market capitalization of $13.72 billion, a PE ratio of 4.83 and a beta of 2.14.

MGM Resorts International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Friday, September 9th will be given a dividend of $0.0025 per share. 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, September 8th. MGM Resorts International's dividend payout ratio (DPR) is presently 0.14%.

Insider Buying and Selling at MGM Resorts International

In other news, Director Paul J. Salem purchased 34,500 shares of the stock in a transaction on Monday, June 13th. The stock was purchased at an average price of $28.92 per share, with a total value of $997,740.00. Following the completion of the transaction, the director now owns 1,555,000 shares in the company, valued at $44,970,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Paul J. Salem purchased 34,500 shares of the stock in a transaction on Monday, June 13th. The stock was purchased at an average price of $28.92 per share, with a total value of $997,740.00. Following the completion of the transaction, the director now owns 1,555,000 shares in the company, valued at $44,970,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel J. Taylor sold 4,499 shares of the company's stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $34.41, for a total value of $154,810.59. The disclosure for this sale can be found here. 2.13% of the stock is owned by company insiders.