A number of research firms have changed their ratings and price targets for MGM Resorts International (NYSE: MGM):

  • 1/19/2016 – MGM Resorts International had its “outperform” rating reaffirmed by analysts at Telsey Advisory Group.
  • 1/16/2016 – MGM Resorts International was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “MGM Resorts’ revenues have been quite sluggish over the past few quarters due to weak performance in Macau. The slowdown in Macau reflects the anti-graft corruption campaign taken by the Chinese government. The crackdown on corruption in China has compelled Macau officials to impose strict restrictions, thereby keeping VIP gamblers at bay. Going forward, weak yuan is expected to hurt visits and spending in Macau. However, the company’s strong portfolio and its focus on non-gaming activities would offset the negative impact to some extent. Moreover, with the Las Vegas economy recovering from recession, the company’s properties in the region are expected to generate higher revenues. Moreover, easing of restrictions in Macau would mitigate the troubles in the region.”
  • 1/13/2016 – MGM Resorts International was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $23.06 price target on the stock.
  • 1/7/2016 – MGM Resorts International was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating. They now have a $23.06 price target on the stock.
  • 1/6/2016 – MGM Resorts International had its “buy” rating reaffirmed by analysts at Sterne Agee CRT. They now have a $27.50 price target on the stock, up previously from $18.50.
  • 1/1/2016 – MGM Resorts International had its “buy” rating reaffirmed by analysts at Gabelli.
  • 12/23/2015 – MGM Resorts International was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating. They now have a $23.04 price target on the stock.
  • 12/21/2015 – MGM Resorts International was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $24.00 price target on the stock. According to Zacks, “MGM Resorts’ revenues have been quite sluggish over the past few quarters due to weak performance in Macau. The slowdown in Macau reflects the anti-graft corruption campaign taken by the Chinese government. The crackdown on corruption in China has compelled Macau officials to impose strict restrictions, thereby keeping VIP gamblers at bay. However, the company’s strong portfolio and its focus on non-gaming activities would offset the negative impact to some extent. Moreover, with the Las Vegas economy recovering from recession, the company’s properties in the region are expected to generate higher revenues. Moreover, easing of restrictions in Macau would mitigate the troubles in the region.”
  • 12/3/2015 – MGM Resorts International was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating. They now have a $23.44 price target on the stock.

MGM Resorts International (NYSE:MGM) opened at 19.34 on Monday. The firm has a 50 day moving average of $21.38 and a 200-day moving average of $21.03. MGM Resorts International has a 52 week low of $16.84 and a 52 week high of $24.41. The company’s market capitalization is $10.90 billion.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Thursday, October 29th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.08. The business had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the prior year, the business posted ($0.02) earnings per share. MGM Resorts International’s revenue was down 8.2% compared to the same quarter last year. On average, analysts forecast that MGM Resorts International will post $0.62 earnings per share for the current year.

In related news, CAO Robert Selwood sold 12,398 shares of the firm’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $23.90, for a total transaction of $296,312.20. Following the transaction, the chief accounting officer now directly owns 30,482 shares of the company’s stock, valued at $728,519.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Phyllis James sold 23,963 shares of the firm’s stock in a transaction dated Tuesday, December 8th. The stock was sold at an average price of $21.59, for a total transaction of $517,361.17. Following the transaction, the executive vice president now directly owns 10,695 shares in the company, valued at $230,905.05. The disclosure for this sale can be found here.

MGM Resorts International is a holding company. Through its wholly owned subsidiaries, the Company owns and operates casino resorts. The Company operates in two segments: wholly owned domestic resorts and MGM China. The wholly owned domestic resorts segment includes non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities. Its casino operations feature a variety of table games, and race and sports book wagering. It operates over 15 wholly owned resorts in the United States. The MGM China segment’s operations consist of the MGM Macau resort and casino (NYSE:MGM) and the development of a gaming resort in Cotai, Macau. It owns and operates two resorts in Mississippi, which includes Beau Rivage in Biloxi and Gold Strike Tunica. It also owns Shadow Creek, Primm Valley Golf Club at the California/Nevada state line and Fallen Oak golf course in Saucier, Mississippi.

12 Month Chart for NYSE:MGM

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