MGM Resorts International (NYSE: MGM) is 20.13% higher on its value in year-to-date trading and has touched a low of $26.41 and a high of $49.00 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The MGM stock was last observed hovering at around $39.90 in the last trading session, with the day’s gains setting it 0.38% off its average median price target of $50.00 for the next 12 months. It is also 39.88% off the consensus price target high of $67.00 offered by 18 analysts, but current levels are -0.7% lower than the price target low of $40.00 for the same period.
Currently trading at $40.28, the stock is 10.40% and 10.87% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.92 million and changing 0.95% at the moment leaves the stock 16.92% off its SMA200. MGM registered -1.66% loss for a year compared to 6-month gain of 30.86%.
The stock witnessed a 16.52% loss in the last 1 month and extending the period to 3 months gives it a 18.75%, and is 3.36% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.57% over the week and 2.97% over the month.
MGM Resorts International (MGM) has around 42000 employees, a market worth around $15.12B and $12.59B in sales. Current P/E ratio is 13.77 and Fwd P/E is 58.55. Profit margin for the company is 10.20%. Distance from 52-week low is 52.52% and -17.80% from its 52-week high. The company has generated returns on investments over the last 12 months (10.70%).
MGM Resorts International (MGM) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for MGM Resorts International (MGM) is a “Overweight”. 18 analysts offering their recommendations for the stock have an average rating of 2.10, where 4 rate it as a Hold and 2 think it is a “Overweight”. 12 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
MGM Resorts International is expected to release its quarterly report on 05/01/2023.The EPS is expected to grow by 219.60% this year.
MGM Resorts International (MGM) Top Institutional Holders
The shares outstanding are 393.30M, and float is at 306.13M with Short Float at 3.54%.
MGM Resorts International (MGM) Insider Activity
A total of 59 insider transactions have happened at MGM Resorts International (MGM) in the last six months, with sales accounting for 29 and purchases happening 30 times. The most recent transaction is an insider sale by SANDERS COREY IAN,the company’sCHIEF OPERATING OFFICER. SEC filings show that SANDERS COREY IAN sold 60,000 shares of the company’s common stock on Jan 23 at a price of $40.00 per share for a total of $2.4 million. Following the sale, the insider now owns 0.23 million shares.
MGM Resorts International disclosed in a document filed with the SEC on Jan 09 that SANDERS COREY IAN (CHIEF OPERATING OFFICER) sold a total of 10,000 shares of the company’s common stock. The trade occurred on Jan 09 and was made at $38.00 per share for $0.38 million. Following the transaction, the insider now directly holds 0.29 million shares of the MGM stock.
Still, SEC filings show that on Jan 06, SANDERS COREY IAN (CHIEF OPERATING OFFICER) disposed off 10,000 shares at an average price of $36.00 for $0.36 million. The insider now directly holds 301,498 shares of MGM Resorts International (MGM).
MGM Resorts International (MGM): Who are the competitors?
The company’s main competitors (and peers) include Las Vegas Sands Corp. (LVS) that is trading 26.79% up over the past 12 months and DraftKings Inc. (DKNG) that is -23.33% lower over the same period. Caesars Entertainment Inc. (CZR) is -29.21% down on the 1-year trading charts.