MGM Resorts International PT Raised to $29.00 (MGM)
Stock analysts at Argus upped their price target on shares of MGM Resorts International (NYSE:MGM) from $24.00 to $29.00 in a report issued on Friday, Stock Ratings News reports. The firm currently has a “buy” rating on the stock. Argus’ target price suggests a potential upside of 16.09% from the stock’s previous close.
Shares of MGM Resorts International (NYSE:MGM) traded up 1.10% on Friday, hitting $25.255. The stock had a trading volume of 9,432,949 shares. MGM Resorts International has a 52-week low of $11.72 and a 52-week high of $24.99. The stock’s 50-day moving average is $21.5 and its 200-day moving average is $18.94. The company’s market cap is $12.377 billion.
MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.07) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.03) by $0.04. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter last year, the company posted ($0.37) earnings per share. MGM Resorts International’s revenue was up 9.3% compared to the same quarter last year. On average, analysts predict that MGM Resorts International will post $-0.23 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at FBR Capital Markets raised their price target on shares of MGM Resorts International from $25.00 to $30.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Nomura reiterated a “buy” rating on shares of MGM Resorts International in a research note to investors on Tuesday. They now have a $23.00 price target on the stock, down previously from $28.00. Finally, analysts at Morgan Stanley upgraded shares of MGM Resorts International from an “equal weight” rating to an “overweight” rating in a research note to investors on Tuesday. They now have a $28.00 price target on the stock, up previously from $21.00. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seventeen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $24.75.
MGM Resorts International is a holding company. The Company is a hospitality company. The Company’s primary business is the ownership and operation of casino resorts, which includes offering gaming, hotel, convention, dining, entertainment, retail and other resort amenities.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.