MGM Resorts International Receives Average Recommendation of “Buy” from Brokerages (NYSE:MGM)
MGM Resorts International (NYSE:MGM) has earned an average rating of “Buy” from the twenty-two analysts that are presently covering the stock, Analyst Ratings Network reports. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $30.17.
In other MGM Resorts International news, EVP Phyllis James unloaded 4,875 shares of the stock on the open market in a transaction dated Friday, August 22nd. The stock was sold at an average price of $25.00, for a total value of $121,875.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
MGM Resorts International (NYSE:MGM) opened at 24.47 on Tuesday. MGM Resorts International has a 52-week low of $17.86 and a 52-week high of $28.75. The stock’s 50-day moving average is $25.51 and its 200-day moving average is $25.58. The company has a market cap of $12.008 billion and a price-to-earnings ratio of 84.85.
MGM Resorts International (NYSE:MGM) last announced its 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. On average, analysts predict that MGM Resorts International will post $0.62 earnings per share for the current fiscal year.
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, August 22nd. 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.
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.