MGM Resorts International (NYSE:MGM) PT Raised to $62.00 at Mizuho

MGM Resorts International (NYSE:MGM) had its target price upped by Mizuho from $61.00 to $62.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Mizuho’s target price indicates a potential upside of 56.05% from the company’s previous close.

Several other analysts have also commented on MGM. TheStreet raised MGM Resorts International from a “c+” rating to a “b-” rating in a report on Tuesday, February 13th. Barclays dropped their price objective on shares of MGM Resorts International from $57.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 14th. Bank Of America (Bofa) boosted their target price on shares of MGM Resorts International from $45.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. StockNews.com lowered shares of MGM Resorts International from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. Finally, Macquarie reiterated an “outperform” rating and issued a $58.00 price objective on shares of MGM Resorts International in a research report on Wednesday, February 14th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, MGM Resorts International currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.78.

MGM Resorts International Price Performance

Shares of MGM opened at $39.73 on Thursday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.57 and a quick ratio of 1.53. The company’s fifty day moving average price is $43.58 and its 200-day moving average price is $42.22. MGM Resorts International has a 1-year low of $34.12 and a 1-year high of $51.35. The firm has a market capitalization of $12.60 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 1.62 and a beta of 2.22.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.18. MGM Resorts International had a return on equity of 20.51% and a net margin of 7.07%. The business had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period in the prior year, the company earned $0.44 earnings per share. The company’s revenue was up 13.2% on a year-over-year basis. On average, equities research analysts predict that MGM Resorts International will post 2.46 EPS for the current year.

Insider Transactions at MGM Resorts International

In related news, Director Keith A. Meister sold 325,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the completion of the sale, the director now owns 6,098,778 shares of the company’s stock, valued at approximately $261,637,576.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.13% of the company’s stock.

Institutional Trading of MGM Resorts International

Hedge funds and other institutional investors have recently modified their holdings of the stock. CVA Family Office LLC purchased a new stake in shares of MGM Resorts International in the fourth quarter valued at about $28,000. Sandy Spring Bank increased its holdings in shares of MGM Resorts International by 140.8% during the 3rd quarter. Sandy Spring Bank now owns 855 shares of the company’s stock worth $31,000 after buying an additional 500 shares during the last quarter. Sunbelt Securities Inc. raised its position in shares of MGM Resorts International by 510.2% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company’s stock valued at $44,000 after buying an additional 1,000 shares during the period. Accent Capital Management LLC acquired a new position in MGM Resorts International in the fourth quarter valued at approximately $45,000. Finally, Mendota Financial Group LLC grew its position in MGM Resorts International by 36.0% in the first quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock worth $47,000 after acquiring an additional 266 shares during the period. 68.11% of the stock is owned by institutional investors and hedge funds.

MGM Resorts International Company Profile

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and internationally. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.