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.
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