MGM Resorts International (NYSE:MGM) Price Target Cut to $18.00 by Analysts at Morgan Stanley

MGM Resorts International (NYSE:MGM) had its price target decreased by Morgan Stanley from $19.00 to $18.00 in a report issued on Friday, BenzingaRatingsTable reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 11.87% from the stock’s previous close.

Several other equities research analysts have also recently commented on MGM. Wolfe Research cut MGM Resorts International from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, June 10th. Stifel Nicolaus lowered their target price on MGM Resorts International from $38.00 to $20.00 and set a “hold” rating on the stock in a report on Friday, May 1st. Zacks Investment Research downgraded MGM Resorts International from a “hold” rating to a “strong sell” rating and set a $14.00 target price on the stock. in a report on Tuesday, July 21st. Jefferies Financial Group downgraded MGM Resorts International from a “buy” rating to a “hold” rating and lowered their target price for the company from $22.00 to $17.00 in a report on Thursday, May 21st. Finally, Deutsche Bank reissued a “hold” rating and issued a $13.00 target price on shares of MGM Resorts International in a report on Friday, May 1st. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company’s stock. MGM Resorts International currently has an average rating of “Hold” and an average price target of $18.54.

MGM Resorts International stock opened at $16.09 on Friday. The company has a quick ratio of 2.85, a current ratio of 2.89 and a debt-to-equity ratio of 1.51. MGM Resorts International has a one year low of $5.90 and a one year high of $34.63. The business’s fifty day moving average is $16.96 and its 200 day moving average is $19.82.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Thursday, July 30th. The company reported ($1.52) EPS for the quarter, beating the consensus estimate of ($1.65) by $0.13. MGM Resorts International had a negative return on equity of 6.66% and a net margin of 21.28%. The company had revenue of $289.81 million for the quarter, compared to analysts’ expectations of $442.57 million. As a group, research analysts anticipate that MGM Resorts International will post -3.59 EPS for the current year.

Several large investors have recently added to or reduced their stakes in MGM. First Republic Investment Management Inc. purchased a new stake in shares of MGM Resorts International during the fourth quarter worth about $219,000. AXA boosted its holdings in shares of MGM Resorts International by 7.7% in the 4th quarter. AXA now owns 31,091 shares of the company’s stock worth $1,035,000 after purchasing an additional 2,236 shares during the period. Verus Capital Partners LLC purchased a new position in shares of MGM Resorts International in the 4th quarter worth approximately $41,000. Norges Bank purchased a new position in shares of MGM Resorts International in the 4th quarter worth approximately $160,950,000. Finally, Franklin Resources Inc. boosted its holdings in shares of MGM Resorts International by 2.6% in the 4th quarter. Franklin Resources Inc. now owns 1,212,516 shares of the company’s stock worth $40,341,000 after purchasing an additional 30,250 shares during the period. Hedge funds and other institutional investors own 74.87% of the company’s stock.

MGM Resorts International Company Profile

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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