MGM Resorts International (NYSE:MGM) Price Target Raised to $57.00 at Capital One Financial

MGM Resorts International (NYSE:MGM) had its target price raised by Capital One Financial from $53.00 to $57.00 in a report published on Monday morning. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts have also issued reports on MGM. UBS Group dropped their price objective on MGM Resorts International from $50.00 to $46.00 and set a “neutral” rating for the company in a research note on Friday, September 11th. Barclays raised their price target on MGM Resorts International from $39.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. Wells Fargo & Company upgraded MGM Resorts International from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $33.00 to $48.30 in a research report on Tuesday, July 7th. The Goldman Sachs Group reissued a “sell” rating and set a $43.00 price objective on shares of MGM Resorts International in a report on Wednesday, July 15th. Finally, Weiss Ratings upgraded shares of MGM Resorts International from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.96.

MGM Resorts International Stock Performance

NYSE MGM opened at $37.81 on Monday. MGM Resorts International has a 1 year low of $29.18 and a 1 year high of $51.59. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.34 and a quick ratio of 1.30. The stock has a market capitalization of $9.51 billion, a PE ratio of 22.91, a P/E/G ratio of 1.99 and a beta of 1.28. The company’s 50 day simple moving average is $42.88 and its two-hundred day simple moving average is $41.81.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. The firm had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.42 billion. MGM Resorts International had a net margin of 2.40% and a return on equity of 23.30%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.79 EPS. Analysts predict that MGM Resorts International will post 1.96 earnings per share for the current fiscal year.

Institutional Trading of MGM Resorts International

Hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new stake in MGM Resorts International in the first quarter worth approximately $30,000. Optiver Holding B.V. bought a new stake in shares of MGM Resorts International in the 1st quarter worth approximately $35,000. Fiduciary Financial Advisors bought a new stake in shares of MGM Resorts International in the 2nd quarter worth approximately $48,000. Global Retirement Partners LLC purchased a new stake in shares of MGM Resorts International in the 2nd quarter valued at $53,000. Finally, Modus Advisors LLC purchased a new stake in shares of MGM Resorts International in the 4th quarter valued at $54,000. Institutional investors own 68.11% of the company’s stock.

Trending Headlines about MGM Resorts International

Here are the key news stories impacting MGM Resorts International this week:

• Positive Sentiment: Capital One raised its price target on MGM from $53 to $57 and maintained an “overweight” rating, implying substantial upside from the current trading level.
• Positive Sentiment: Susquehanna lowered its target from $55 to $46 but retained a positive rating, indicating that analysts still see meaningful upside despite the failed deal.
• Neutral Sentiment: MGM’s board confirmed its commitment to executing the company’s strategy as a standalone business after People Inc. withdrew its proposal. MGM Resorts board confirms standalone strategy
• Negative Sentiment: The failed takeover eliminates the immediate possibility of a deal near the reported $48.30-per-share proposal, likely weighing on investor expectations and the stock’s valuation. Barry Diller withdraws MGM bid
• Negative Sentiment: A securities law firm announced an investigation related to Diller’s proposal, adding a potential legal and governance overhang. The announcement is an investigation notice, not a finding of wrongdoing. MGM investor investigation announcement

About MGM Resorts International

MGM Resorts International is a global hospitality and entertainment company that owns and operates destination resorts, casinos, hotels, restaurants, convention facilities and live-entertainment venues. Its properties offer casino gaming, hotel accommodations, dining, nightlife, retail, spa services, sporting events and other leisure activities.

The company operates a portfolio of resorts in Las Vegas and other U.S. markets, including properties associated with brands such as MGM Grand, Bellagio, ARIA, Mandalay Bay, Park MGM, New York-New York and MGM National Harbor.