Jefferies Financial Group Cuts MGM Resorts International (NYSE:MGM) Price Target to $50.00

MGM Resorts International (NYSE:MGM) had its price objective lowered by equities research analysts at Jefferies Financial Group from $52.00 to $50.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Jefferies Financial Group’s target price points to a potential upside of 48.54% from the stock’s current price.

A number of other research firms have also commented on MGM. Deutsche Bank Aktiengesellschaft decreased their target price on 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 lowered 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 research report on Thursday, October 31st. JMP Securities reduced their target price on shares of 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. Wells Fargo & Company lowered their price target on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. Finally, Morgan Stanley boosted their price objective on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $52.36.

MGM Resorts International Trading Down 2.9 %

MGM Resorts International stock opened at $33.66 on Friday. The business’s 50-day simple moving average is $36.77 and its 200-day simple moving average is $38.83. MGM Resorts International has a 52 week low of $33.28 and a 52 week high of $48.24. The firm has a market capitalization of $10.02 billion, a PE ratio of 12.02, a PEG ratio of 3.10 and a beta of 2.20. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24.

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

Insiders Place Their Bets

In other news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the transaction, the director now directly owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. This represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.13% of the company’s stock.

Institutional Investors Weigh In On MGM Resorts International

Institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC bought a new position in shares of MGM Resorts International in the second quarter worth $28,000. MidAtlantic Capital Management Inc. acquired a new stake in MGM Resorts International during the third quarter worth about $28,000. Eastern Bank bought a new position in MGM Resorts International in the 3rd quarter valued at about $35,000. Brooklyn Investment Group acquired a new position in shares of MGM Resorts International in the 3rd quarter valued at approximately $44,000. Finally, Planning Capital Management Corp bought a new stake in shares of MGM Resorts International during the 3rd quarter worth approximately $45,000. 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.