Morgan Stanley Trims MGM Resorts International (NYSE:MGM) Target Price to $34.00

MGM Resorts International (NYSE:MGM) had its price objective lowered by equities research analysts at Morgan Stanley from $36.00 to $34.00 in a note issued to investors on Thursday, BenzingaRatingsTable reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 1.01% from the stock’s current price.

A number of other brokerages also recently issued reports on MGM. Roth Capital reiterated a “buy” rating on shares of MGM Resorts International in a report on Thursday, October 31st. SunTrust Banks initiated coverage on shares of MGM Resorts International in a report on Friday, December 6th. They issued a “hold” rating and a $35.00 price target for the company. Cfra downgraded shares of MGM Resorts International to a “sell” rating in a report on Friday, February 7th. UBS Group raised their target price on shares of MGM Resorts International from $31.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Finally, Barclays raised their target price on shares of MGM Resorts International from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. MGM Resorts International has a consensus rating of “Hold” and an average price target of $33.00.

Shares of MGM opened at $33.66 on Thursday. The company has a 50-day simple moving average of $32.69 and a 200-day simple moving average of $30.34. The company has a quick ratio of 0.84, a current ratio of 0.87 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $17.06 billion, a PE ratio of -3,366.00, a P/E/G ratio of 2.14 and a beta of 1.50. MGM Resorts International has a 52-week low of $23.68 and a 52-week high of $34.63.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.16). The company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.21 billion. MGM Resorts International had a net margin of 0.11% and a return on equity of 4.10%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.06) EPS. On average, research analysts anticipate that MGM Resorts International will post 0.88 EPS for the current year.

In other MGM Resorts International news, Director Keith A. Meister bought 295,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was purchased at an average cost of $32.04 per share, for a total transaction of $9,451,800.00. Company insiders own 3.47% of the company’s stock.

Large investors have recently bought and sold shares of the business. Northwestern Mutual Investment Management Company LLC boosted its stake in shares of MGM Resorts International by 2.6% during the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 19,856 shares of the company’s stock worth $550,000 after purchasing an additional 498 shares during the last quarter. Appleton Partners Inc. MA boosted its stake in shares of MGM Resorts International by 14.4% during the 4th quarter. Appleton Partners Inc. MA now owns 41,011 shares of the company’s stock worth $1,364,000 after purchasing an additional 5,150 shares during the last quarter. Nomura Holdings Inc. boosted its stake in shares of MGM Resorts International by 212.5% during the 3rd quarter. Nomura Holdings Inc. now owns 37,771 shares of the company’s stock worth $1,047,000 after purchasing an additional 25,684 shares during the last quarter. Virtu Financial LLC boosted its stake in shares of MGM Resorts International by 135.7% during the 3rd quarter. Virtu Financial LLC now owns 36,511 shares of the company’s stock worth $1,012,000 after purchasing an additional 21,022 shares during the last quarter. Finally, Haverford Trust Co. boosted its stake in shares of MGM Resorts International by 181.8% during the 3rd quarter. Haverford Trust Co. now owns 75,180 shares of the company’s stock worth $2,084,000 after purchasing an additional 48,500 shares during the last quarter. Hedge funds and other institutional investors own 81.58% of the company’s stock.

About MGM Resorts International

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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