MGM Resorts International (NYSE:MGM) PT Raised to $18.00

MGM Resorts International (NYSE:MGM) had its target price raised by equities researchers at Credit Suisse Group from $15.00 to $18.00 in a research report issued on Friday, BenzingaRatingsTable reports. The brokerage currently has a “neutral” rating on the stock. Credit Suisse Group’s price target points to a potential upside of 11.87% from the company’s previous close.

Several other brokerages also recently weighed in on MGM. Deutsche Bank reiterated a “hold” rating and issued a $13.00 price objective on shares of MGM Resorts International in a research 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 price objective for the company. in a research report on Tuesday, July 21st. ValuEngine upgraded MGM Resorts International from a “hold” rating to a “buy” rating in a research report on Friday, May 1st. Bank of America downgraded MGM Resorts International from a “neutral” rating to an “underperform” rating and set a $15.00 target price for the company. in a report on Thursday, May 21st. Finally, Morgan Stanley decreased their target price on MGM Resorts International from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Friday. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company’s stock. MGM Resorts International currently has a consensus rating of “Hold” and a consensus target price of $18.54.

Shares of MGM opened at $16.09 on Friday. The stock has a 50 day simple moving average of $16.96 and a two-hundred day simple moving average of $19.82. 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 1 year low of $5.90 and a 1 year high of $34.63.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($1.52) earnings per share for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $289.81 million during the quarter, compared to the consensus estimate of $442.57 million. On average, equities research analysts forecast that MGM Resorts International will post -3.59 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. HCR Wealth Advisors grew its stake in shares of MGM Resorts International by 3.5% in the second quarter. HCR Wealth Advisors now owns 19,660 shares of the company’s stock worth $330,000 after acquiring an additional 660 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in MGM Resorts International by 1.8% in the second quarter. CIBC Asset Management Inc now owns 37,670 shares of the company’s stock valued at $633,000 after acquiring an additional 676 shares during the period. Nissay Asset Management Corp Japan ADV lifted its holdings in MGM Resorts International by 1.8% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 41,139 shares of the company’s stock valued at $485,000 after acquiring an additional 718 shares during the period. Cigna Investments Inc. New lifted its holdings in MGM Resorts International by 6.0% in the first quarter. Cigna Investments Inc. New now owns 14,346 shares of the company’s stock valued at $169,000 after acquiring an additional 810 shares during the period. Finally, Mutual of America Capital Management LLC lifted its holdings in MGM Resorts International by 1.4% in the first quarter. Mutual of America Capital Management LLC now owns 69,373 shares of the company’s stock valued at $819,000 after acquiring an additional 927 shares during the period. 74.87% of the stock is currently owned by hedge funds and other institutional investors.

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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