MGM Resorts International (NYSE:MGM) Lowered to Sell at Cfra

Cfra cut shares of MGM Resorts International (NYSE:MGM) to a sell rating in a research note released on Friday morning, TipRanks reports.

A number of other analysts have also recently commented on MGM. Stifel Nicolaus dropped their price target on MGM Resorts International from $38.00 to $20.00 and set a hold rating on the stock in a research report on Friday, May 1st. Bank of America downgraded shares of MGM Resorts International from a neutral rating to an underperform rating and set a $15.00 price objective on the stock. in a research report on Thursday, May 21st. Nomura Securities reiterated a buy rating and issued a $22.00 price objective on shares of MGM Resorts International in a research note on Sunday, April 19th. Credit Suisse Group raised their price objective on MGM Resorts International from $15.00 to $18.00 and gave the stock a neutral rating in a research note on Friday. Finally, Barclays restated a hold rating on shares of MGM Resorts International in a research report on Wednesday, May 20th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. MGM Resorts International presently has an average rating of Hold and a consensus target price of $18.54.

Shares of NYSE:MGM traded down $0.55 during trading on Friday, reaching $16.09. The company had a trading volume of 31,889,053 shares, compared to its average volume of 19,319,292. The company has a debt-to-equity ratio of 1.51, a current ratio of 2.89 and a quick ratio of 2.85. MGM Resorts International has a 12 month low of $5.90 and a 12 month high of $34.63. The company has a fifty day moving average of $16.96 and a two-hundred day moving average of $19.82.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($1.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.65) by $0.13. The business had revenue of $289.81 million for the quarter, compared to analyst estimates of $442.57 million. MGM Resorts International had a negative return on equity of 6.66% and a net margin of 21.28%. On average, equities research analysts anticipate that MGM Resorts International will post -3.62 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Thursday, September 10th will be given a dividend of $0.0025 per share. The ex-dividend date is Wednesday, September 9th. This is an increase from MGM Resorts International’s previous quarterly dividend of $0.00. This represents a $0.01 dividend on an annualized basis and a yield of 0.06%. MGM Resorts International’s payout ratio is currently 1.30%.

A number of large investors have recently made changes to their positions in MGM. Verus Capital Partners LLC acquired a new position in shares of MGM Resorts International during the 4th quarter worth about $41,000. Allworth Financial LP raised its holdings in shares of MGM Resorts International by 231.8% during the second quarter. Allworth Financial LP now owns 1,659 shares of the company’s stock valued at $28,000 after acquiring an additional 1,159 shares during the last quarter. NuWave Investment Management LLC acquired a new position in shares of MGM Resorts International during the second quarter valued at approximately $29,000. Cornerstone Advisors Inc. raised its stake in MGM Resorts International by 347.8% in the 2nd quarter. Cornerstone Advisors Inc. now owns 2,015 shares of the company’s stock valued at $34,000 after purchasing an additional 1,565 shares during the last quarter. Finally, Modus Advisors LLC acquired a new position in MGM Resorts International in the 2nd quarter valued at $34,000. 74.87% of the stock is owned by institutional investors.

About MGM Resorts International

MGM Resorts International, through its subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts in the United States and Macau. 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.

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Analyst Recommendations for MGM Resorts International (NYSE:MGM)

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