MGM Resorts International Price Target Cut to $32.00 by Analysts at Susquehanna (MGM)
Stock analysts at Susquehanna dropped their price objective on shares of MGM Resorts International (NYSE:MGM) from $34.00 to $32.00 in a report issued on Monday. The firm currently has a “positive” rating on the stock. Susquehanna’s target price would indicate a potential upside of 25.98% from the stock’s previous close.
MGM Resorts International (NYSE:MGM) traded down 0.83% during mid-day trading on Monday, hitting $25.19. The stock had a trading volume of 1,868,725 shares. MGM Resorts International has a 1-year low of $12.87 and a 1-year high of $28.75. The stock’s 50-day moving average is $25.00 and its 200-day moving average is $24.79. The company’s market cap is $12.359 billion.
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 $0.50 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on MGM. Analysts at Morgan Stanley reiterated an “overweight” rating on shares of MGM Resorts International in a research note on Thursday, June 12th. They now have a $31.00 price target on the stock. Separately, analysts at Credit Suisse reiterated an “outperform” rating on shares of MGM Resorts International in a research note on Wednesday, June 4th. They now have a $33.00 price target on the stock, up previously from $30.00. Finally, analysts at Nomura reiterated an “in-line” rating on shares of MGM Resorts International in a research note on Tuesday, May 27th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. MGM Resorts International currently has an average rating of “Buy” and a consensus price target of $28.64.
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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