Deutsche Bank AG reissued their buy rating on shares of MGM Resorts International (NYSE:MGM) in a report released on Monday, July 3rd. Deutsche Bank AG currently has a $34.00 price objective on the stock.
Several other research analysts also recently weighed in on the stock. BidaskClub downgraded shares of MGM Resorts International from a strong-buy rating to a buy rating in a research note on Saturday, July 1st. Zacks Investment Research downgraded shares of MGM Resorts International from a hold rating to a sell rating in a research note on Wednesday, June 28th. Instinet reiterated a buy rating and set a $40.00 price objective (up from $35.00) on shares of MGM Resorts International in a research note on Monday, June 19th. TheStreet upgraded shares of MGM Resorts International from a c+ rating to a b rating in a research note on Friday, April 28th. Finally, CLSA reiterated an outperform rating on shares of MGM Resorts International in a research note on Friday, April 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $34.38.
Shares of MGM Resorts International (NYSE MGM) traded down 0.75% during midday trading on Monday, reaching $33.14. 8,643,411 shares of the company traded hands. MGM Resorts International has a 12 month low of $23.38 and a 12 month high of $34.53. The firm has a market capitalization of $19.05 billion, a P/E ratio of 19.61 and a beta of 1.47. The company has a 50 day moving average of $32.57 and a 200 day moving average of $29.74.
MGM Resorts International (NYSE:MGM) last announced its earnings results on Thursday, July 27th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.03. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.67 billion. MGM Resorts International had a net margin of 9.26% and a return on equity of 7.97%. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 earnings per share. On average, equities research analysts predict that MGM Resorts International will post $1.27 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Monday, September 11th will be given a dividend of $0.11 per share. The ex-dividend date is Friday, September 8th. This represents a $0.44 annualized dividend and a dividend yield of 1.33%. MGM Resorts International’s dividend payout ratio (DPR) is 26.04%.
In other MGM Resorts International news, insider Corey Ian Sanders sold 19,855 shares of the firm’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $31.01, for a total value of $615,703.55. Following the completion of the transaction, the insider now directly owns 185,558 shares in the company, valued at $5,754,153.58. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Rose Mckinney-James sold 880 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $30.95, for a total transaction of $27,236.00. Following the completion of the transaction, the director now owns 100 shares of the company’s stock, valued at $3,095. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,070 shares of company stock valued at $2,591,372. Insiders own 12.20% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in MGM. Comerica Bank bought a new stake in MGM Resorts International during the fourth quarter worth about $770,000. Federated Investors Inc. PA raised its stake in MGM Resorts International by 689.0% in the fourth quarter. Federated Investors Inc. PA now owns 70,549 shares of the company’s stock worth $2,034,000 after buying an additional 61,607 shares during the period. FMR LLC raised its stake in MGM Resorts International by 40.8% in the fourth quarter. FMR LLC now owns 3,222,400 shares of the company’s stock worth $92,902,000 after buying an additional 933,800 shares during the period. Envestnet Asset Management Inc. raised its stake in MGM Resorts International by 6.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 32,261 shares of the company’s stock worth $930,000 after buying an additional 1,951 shares during the period. Finally, Guggenheim Capital LLC raised its stake in MGM Resorts International by 681.7% in the fourth quarter. Guggenheim Capital LLC now owns 90,721 shares of the company’s stock worth $2,615,000 after buying an additional 79,116 shares during the period. Institutional investors own 73.67% of the company’s stock.
MGM Resorts International Company Profile
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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