MGM Resorts International Given Average Recommendation of “Buy” by Brokerages (NYSE:MGM)
Shares of MGM Resorts International (NYSE:MGM) have received an average rating of “Buy” from the twenty-two ratings firms that are presently covering the company, Analyst Ratings Network.com reports. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $30.17.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated an “outperform” rating on shares of MGM Resorts International in a research note on Friday. They now have a $30.00 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of MGM Resorts International in a research note on Monday, August 11th. They now have a $33.50 price target on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of MGM Resorts International in a research note on Wednesday, August 6th. They now have a $31.00 price target on the stock, down previously from $32.00.
In other MGM Resorts International news, EVP Phyllis James sold 4,875 shares of MGM Resorts International stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $25.00, for a total transaction of $121,875.00. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of MGM Resorts International (NYSE:MGM) opened at 24.89 on Tuesday. MGM Resorts International has a one year low of $17.30 and a one year high of $28.75. The stock’s 50-day moving average is $25.65 and its 200-day moving average is $25.59. The company has a market cap of $12.215 billion and a P/E ratio of 84.95.
MGM Resorts International (NYSE:MGM) last released its earnings data on Tuesday, August 5th. The company reported $0.21 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.04 earnings per share. MGM Resorts International’s revenue was up 4.0% compared to the same quarter last year. On average, analysts predict that MGM Resorts International will post $0.62 earnings per share 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.
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.