Shares of MGM Resorts International (NYSE:MGM) have received an average rating of “Buy” from the twenty-two ratings firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $34.07.
Several equities analysts recently commented on MGM shares. TheStreet raised shares of MGM Resorts International from a “c+” rating to a “b” rating in a research note on Friday, April 28th. Zacks Investment Research cut shares of MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Friday, February 17th. Instinet reduced their price objective on shares of MGM Resorts International from $35.00 to $34.00 and set a “buy” rating for the company in a research note on Friday, February 17th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $36.00 price objective on shares of MGM Resorts International in a research note on Tuesday, April 4th. Finally, Stifel Nicolaus reduced their price objective on shares of MGM Resorts International from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Friday, February 17th.
Shares of MGM Resorts International (NYSE:MGM) traded up 0.09% on Tuesday, hitting $32.61. 5,030,244 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $31.62 and its 200 day moving average is $29.01. MGM Resorts International has a 12 month low of $21.31 and a 12 month high of $32.93. The firm has a market cap of $18.74 billion, a P/E ratio of 15.15 and a beta of 1.44. MGM Resorts International also saw some unusual options trading activity on Wednesday. Traders purchased 30,697 call options on the stock. This is an increase of approximately 150% compared to the typical daily volume of 12,300 call options.
MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Thursday, April 27th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.12. MGM Resorts International had a net margin of 12.25% and a return on equity of 7.76%. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same quarter in the previous year, the firm posted $0.16 earnings per share. The company’s quarterly revenue was up 22.6% compared to the same quarter last year. On average, equities analysts predict that MGM Resorts International will post $1.27 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Friday, June 9th were paid a $0.11 dividend. The ex-dividend date was Wednesday, June 7th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.35%. MGM Resorts International’s dividend payout ratio (DPR) is 20.37%.
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In other news, Director Rose Mckinney-James sold 880 shares of the company’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $30.95, for a total value of $27,236.00. Following the completion of the sale, the director now owns 100 shares of the company’s stock, valued at approximately $3,095. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William A. Bible sold 5,906 shares of the company’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $30.77, for a total transaction of $181,727.62. Following the completion of the sale, the director now directly owns 27,081 shares of the company’s stock, valued at approximately $833,282.37. The disclosure for this sale can be found here. Insiders sold a total of 83,070 shares of company stock valued at $2,591,372 in the last ninety days. 16.90% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. IFP Advisors Inc boosted its stake in shares of MGM Resorts International by 0.7% in the first quarter. IFP Advisors Inc now owns 4,558 shares of the company’s stock worth $125,000 after buying an additional 31 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of MGM Resorts International by 15.5% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,521 shares of the company’s stock worth $129,000 after buying an additional 606 shares during the period. Toronto Dominion Bank boosted its stake in shares of MGM Resorts International by 28.0% in the first quarter. Toronto Dominion Bank now owns 5,020 shares of the company’s stock worth $138,000 after buying an additional 1,099 shares during the period. MUFG Americas Holdings Corp acquired a new stake in shares of MGM Resorts International during the first quarter worth about $198,000. Finally, Pacad Investment Ltd. acquired a new stake in shares of MGM Resorts International during the fourth quarter worth about $199,000. 73.85% of the stock is owned by institutional investors.
About MGM Resorts International
MGM Resorts International is a holding company. The Company, through its subsidiaries, owns and operates casino resorts. The Company operates in two segments: domestic resorts and MGM China. Its domestic resorts segment consists of non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities.
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