MGM Resorts International Given Consensus Recommendation of “Buy” by Analysts (NYSE:MGM)
MGM Resorts International (NYSE:MGM) has earned a consensus recommendation of “Buy” from the twenty-three analysts that are covering the company, Stock Ratings Network.com reports. Three investment analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $28.75.
Several analysts have recently commented on the stock. Analysts at Credit Suisse reiterated an “outperform” rating on shares of MGM Resorts International in a research note on Wednesday. They now have a $33.00 price target on the stock, up previously from $30.00. Separately, analysts at Nomura reiterated an “in-line” rating on shares of MGM Resorts International in a research note on Tuesday, May 27th. Finally, analysts at Zacks reiterated an “outperform” rating on shares of MGM Resorts International in a research note on Thursday, May 22nd. They now have a $29.00 price target on the stock.
In other MGM Resorts International news, EVP Christopher W. Nordling sold 5,687 shares of MGM Resorts International stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $25.73, for a total transaction of $146,326.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of MGM Resorts International (NYSE:MGM) traded down 0.67% on Friday, hitting $25.27. The stock had a trading volume of 1,502,275 shares. MGM Resorts International has a 1-year low of $12.87 and a 1-year high of $28.75. The stock has a 50-day moving average of $24.86 and a 200-day moving average of $24.36. The company’s market cap is $12.398 billion. MGM Resorts International also saw a significant decrease in short interest during the month of May. As of May 15th, there was short interest totalling 24,943,708 shares, a decrease of 10.5% from the April 30th total of 27,877,874 shares. Approximately 6.7% of the shares of the company are short sold. Based on an average daily volume of 9,071,415 shares, the days-to-cover ratio is currently 2.7 days.
MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.12. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the previous year, the company posted $0.01 earnings per share. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. Analysts expect that MGM Resorts International will post $0.51 EPS for the current fiscal year.
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.
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