MGM Resorts International’s Outperform Rating Reaffirmed at FBR Capital Markets (MGM)
A number of other analysts have also recently weighed in on MGM. 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. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $28.47.
Shares of MGM Resorts International (NYSE:MGM) traded down 2.16% on Tuesday, hitting $25.88. The stock had a trading volume of 19,795,900 shares. MGM Resorts International has a 52-week low of $16.75 and a 52-week high of $28.75. The stock has a 50-day moving average of $26.01 and a 200-day moving average of $25.54. The company’s market cap is $12.697 billion.
MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.21 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.11 by $0.10. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the prior year, the company posted $0.04 earnings per share. The company’s quarterly revenue was up 4.0% 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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