MGM Resorts International (NYSE:MGM) shares traded 0.61% higher at $39.37 on Wall Street last session.
In accordance with the data, 18 analysts cover MGM Resorts International (NYSE:MGM). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $65.00 and a low of $40.00, we find $55.00. Given the previous closing price of $39.13, this indicates a potential upside of 40.56 percent. MGM stock price is now 4.74% away from the 50-day moving average and -6.38% away from the 200-day moving average. The market capitalization of the company currently stands at $13.45B.
It has been rated a hold by 4 analysts and a buy by 11. Brokers who have rated the stock have averaged $54.38 as their price target over the next twelve months.
With the price target of $49, HSBC Securities recently initiated with Buy rating for MGM Resorts International (NYSE: MGM).
In other news, McManus John, CHIEF LEGAL ADMIN OFC AND SECY sold 10,000 shares of the company’s stock on Aug 10. The stock was sold for $465,914 at an average price of $46.59. Upon completion of the transaction, the CHIEF LEGAL ADMIN OFC AND SECY now directly owns 32,283 shares in the company, valued at $1.27 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 07, CHIEF OPERATING OFFICER SANDERS COREY IAN sold 25,000 shares of the business’s stock. A total of $1,130,300 was realized by selling the stock at an average price of $45.21. This leaves the insider owning 136,632 shares of the company worth $5.38 million. Insiders disposed of 1,027,046 shares of company stock worth roughly $40.43 million over the past 1 year. A total of 19.19% of the company’s stock is owned by insiders.
MGM Resorts International (NYSE: MGM) opened at $39.67 on Wednesday. During the past 12 months, MGM Resorts International has had a low of $32.43 and a high of $51.35. As of last week, the company has a debt-to-equity ratio of 8.02, a current ratio of 1.78, and a quick ratio of 1.73. The fifty day moving average price for MGM is $37.59 and a two-hundred day moving average price translates $42.05 for the stock.
The latest earnings results from MGM Resorts International (NYSE: MGM) was released for Sep, 2023. According to the Resorts & Casinos Company, earnings per share came in at $0.64, beating analysts’ expectations of $0.49 by 0.15. This compares to -$2.70 EPS in the same period last year. The net profit margin was 7.12% and return on equity was 24.88% for MGM. The company reported revenue of $3.97 billion for the quarter, compared to $3.42 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 16.31 percent. For the current quarter, analysts expect MGM to generate $4.09B in revenue.
MGM Resorts International(MGM) Company Profile
MGM Resorts International, through its subsidiaries, owns and operates 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. The company’s casino operations include slots and table games, as well as online sports betting and iGaming through BetMGM. Its customers include premium gaming customers; leisure and wholesale travel customers; business travelers; and group customers, including conventions, trade associations, and small meetings. The company was formerly known as MGM MIRAGE and changed its name to MGM Resorts International in June 2010. MGM Resorts International was incorporated in 1986 and is based in Las Vegas, Nevada.
