MGM Resorts International Receives Average Recommendation of “Buy” from Analysts (NYSE:MGM)
MGM Resorts International (NYSE:MGM) has been given an average recommendation of “Buy” by the twenty-three analysts that are presently covering the stock, AnalystRatingsNetwork reports. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $28.82.
Shares of MGM Resorts International (NYSE:MGM) opened at 25.52 on Wednesday. MGM Resorts International has a 52 week low of $15.61 and a 52 week high of $28.75. The stock has a 50-day moving average of $25.61 and a 200-day moving average of $25.40. The company’s market cap is $12.520 billion.
MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.21 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.01 earnings per share. MGM Resorts International’s revenue was up 11.8% compared to the same quarter last year. On average, analysts predict that MGM Resorts International will post $0.49 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Buckingham Research initiated coverage on shares of MGM Resorts International in a research note on Friday, June 27th. They set a “buy” rating and a $32.00 price target on the stock. Separately, analysts at Susquehanna cut their price target on shares of MGM Resorts International from $34.00 to $32.00 in a research note on Monday, June 23rd. They now have a “positive” rating on the stock. Finally, 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.
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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