Equities analysts predict that MGM Resorts International (NYSE:MGM) will announce $1.47 billion in sales for the current fiscal quarter, according to Zacks. Six analysts have made estimates for MGM Resorts International’s earnings, with estimates ranging from $1.20 billion to $1.85 billion. MGM Resorts International posted sales of $3.19 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 53.9%. The firm is expected to report its next quarterly earnings report after the market closes on Wednesday, February 10th.
On average, analysts expect that MGM Resorts International will report full year sales of $5.17 billion for the current financial year, with estimates ranging from $4.87 billion to $5.52 billion. For the next year, analysts expect that the business will report sales of $8.98 billion, with estimates ranging from $7.40 billion to $10.05 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow MGM Resorts International.
A number of research firms have recently weighed in on MGM. Bank of America upgraded MGM Resorts International from an “underperform” rating to a “neutral” rating and upped their target price for the company from $25.00 to $35.00 in a research report on Monday. Truist boosted their price target on MGM Resorts International from $22.00 to $32.00 in a report on Monday, November 30th. The Goldman Sachs Group boosted their price target on MGM Resorts International from $23.00 to $27.00 and gave the stock a “sell” rating in a report on Tuesday, January 26th. KeyCorp started coverage on MGM Resorts International in a report on Wednesday, January 13th. They set a “sector weight” rating for the company. They noted that the move was a valuation call. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell cut MGM Resorts International from a “buy” rating to a “neutral” rating in a report on Thursday, January 7th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $22.41.
NYSE:MGM opened at $35.60 on Tuesday. The stock has a fifty day moving average price of $30.76 and a 200-day moving average price of $25.08. The company has a market cap of $17.58 billion, a price-to-earnings ratio of 12.71 and a beta of 2.42. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.20 and a current ratio of 2.24. MGM Resorts International has a fifty-two week low of $5.90 and a fifty-two week high of $35.70.
Institutional investors and hedge funds have recently modified their holdings of the business. Global Retirement Partners LLC increased its stake in shares of MGM Resorts International by 34.4% in the third quarter. Global Retirement Partners LLC now owns 8,575 shares of the company’s stock valued at $186,000 after buying an additional 2,197 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of MGM Resorts International by 19.0% in the third quarter. Envestnet Asset Management Inc. now owns 356,949 shares of the company’s stock valued at $7,764,000 after buying an additional 56,990 shares during the period. Vivid Financial Management Inc. acquired a new stake in shares of MGM Resorts International in the third quarter valued at about $456,000. Hollencrest Capital Management increased its stake in shares of MGM Resorts International by 89.1% in the third quarter. Hollencrest Capital Management now owns 106,928 shares of the company’s stock valued at $2,326,000 after buying an additional 50,376 shares during the period. Finally, Regentatlantic Capital LLC increased its stake in shares of MGM Resorts International by 34.4% in the third quarter. Regentatlantic Capital LLC now owns 44,003 shares of the company’s stock valued at $957,000 after buying an additional 11,273 shares during the period. 63.39% of the stock is owned by institutional investors and hedge funds.
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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