MGM Resorts International (NYSE:MGM) Price Target Cut to $46.00 by Analysts at Barclays

MGM Resorts International (NYSE:MGM) had its target price dropped by research analysts at Barclays from $50.00 to $46.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 26.58% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on MGM. Truist Financial reduced their price objective on shares of MGM Resorts International from $58.00 to $56.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Mizuho dropped their price objective on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. UBS Group upgraded MGM Resorts International to a “hold” rating in a research report on Friday, August 23rd. Finally, JMP Securities decreased their target price on MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating on the stock in a research report on Monday, November 25th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, MGM Resorts International currently has a consensus rating of “Moderate Buy” and an average target price of $52.54.

MGM Resorts International Price Performance

Shares of MGM stock traded down $0.46 on Friday, hitting $36.34. 1,179,188 shares of the stock traded hands, compared to its average volume of 4,056,633. The firm has a market cap of $10.82 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 3.16 and a beta of 2.20. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. The firm has a 50 day simple moving average of $38.45 and a two-hundred day simple moving average of $39.39. MGM Resorts International has a 52 week low of $33.44 and a 52 week high of $48.24.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). The business had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. MGM Resorts International’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.64 earnings per share. As a group, equities research analysts predict that MGM Resorts International will post 2.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MGM Resorts International

Several hedge funds and other institutional investors have recently made changes to their positions in MGM. Oddo BHF Asset Management Sas purchased a new stake in shares of MGM Resorts International in the third quarter worth approximately $1,886,000. Synovus Financial Corp purchased a new stake in MGM Resorts International in the third quarter worth $309,000. Tidal Investments LLC lifted its position in shares of MGM Resorts International by 269.7% during the third quarter. Tidal Investments LLC now owns 33,050 shares of the company’s stock worth $1,292,000 after purchasing an additional 24,111 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of MGM Resorts International during the third quarter valued at $55,000. Finally, Sanctuary Advisors LLC boosted its stake in shares of MGM Resorts International by 60.3% during the third quarter. Sanctuary Advisors LLC now owns 51,687 shares of the company’s stock valued at $1,954,000 after purchasing an additional 19,444 shares during the period. Hedge funds and other institutional investors own 68.11% of the company’s stock.

MGM Resorts International Company Profile

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.