MGM Resorts International (NYSE:MGM) Price Target Increased to $62.00 by Analysts at Mizuho

MGM Resorts International (NYSE:MGM) had its target price boosted by analysts at Mizuho from $61.00 to $62.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Mizuho’s price target would indicate a potential upside of 56.05% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. JMP Securities restated a “market outperform” rating and issued a $57.00 price objective on shares of MGM Resorts International in a research note on Wednesday, February 14th. Bank Of America (Bofa) raised their price target on shares of MGM Resorts International from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Morgan Stanley upped their price objective on shares of MGM Resorts International from $45.00 to $46.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft increased their target price on shares of MGM Resorts International from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Finally, Susquehanna upgraded MGM Resorts International from a “neutral” rating to a “positive” rating and set a $54.00 price target on the stock in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $55.78.

MGM Resorts International Stock Performance

Shares of MGM opened at $39.73 on Thursday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.57 and a quick ratio of 1.53. MGM Resorts International has a one year low of $34.12 and a one year high of $51.35. The company’s fifty day moving average price is $43.58 and its 200 day moving average price is $42.22. The company has a market capitalization of $12.60 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 1.62 and a beta of 2.22.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.18. The business had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.24 billion. MGM Resorts International had a return on equity of 20.51% and a net margin of 7.07%. The firm’s revenue was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.44 EPS. As a group, analysts expect that MGM Resorts International will post 2.46 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Keith A. Meister sold 325,000 shares of MGM Resorts International stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the completion of the transaction, the director now directly owns 6,098,778 shares of the company’s stock, valued at approximately $261,637,576.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.13% of the company’s stock.

Institutional Investors Weigh In On MGM Resorts International

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. CVA Family Office LLC acquired a new stake in MGM Resorts International in the 4th quarter valued at about $28,000. Sandy Spring Bank lifted its position in shares of MGM Resorts International by 140.8% during the third quarter. Sandy Spring Bank now owns 855 shares of the company’s stock worth $31,000 after purchasing an additional 500 shares in the last quarter. Accent Capital Management LLC bought a new stake in shares of MGM Resorts International during the fourth quarter valued at approximately $45,000. Mendota Financial Group LLC increased its holdings in shares of MGM Resorts International by 36.0% in the first quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock valued at $47,000 after purchasing an additional 266 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in MGM Resorts International by 49.7% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,105 shares of the company’s stock worth $49,000 after purchasing an additional 367 shares during the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

About MGM Resorts International

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and internationally. 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.