The Price Target For MGM Resorts International (MGM)?

MGM Resorts International (NYSE:MGM) finished Wednesday with a subtraction of -$0.54 to close at $48.15, a downside of -1.11 percent. An average of 11,678,840 shares of common stock have been traded in the last five days. There was a gain of $3.51 in the past week. The last 20 days have seen an average of 9,224,050 shares traded, while the 50-day average volume stands at 7,325,802.

MGM stock has increased by 16.28% in the last month. The company shares reached their 1-month lowest point of $39.24 on 09/15/21. With the stock rallying to its 52-week high on 10/12/21, shares of the company touched a low of $19.55 and a high of $48.94 in 52 weeks. In spite of this, the price is down -1.61% from the 52-week high.


A Backdoor Way To Profit From Today’s Crypto Bull Market

In any crypto bull market, there's a lot of money to be made.

But what if we told you the best opportunities are not cryptocurrencies themselves… but instead, simply crypto stocks?

This strategy is simply and ridiculously easy.

Here are 6 ways to gain exposure to crypto outside the norm. This is arguably the safest bet you can make.

Sponsored


Insider Transactions

13 days have passed since MGM Resorts International (MGM) last reported insider trading activity. SANDERS COREY IAN, who is CHIEF OPERATING OFFICER, most recently acquired $40,000 shares at $44.15 per share on Oct 01. In this transaction, the insider spent $1,766,164. CEO AND PRESIDENT, HORNBUCKLE WILLIAM, disposed of 60,000 shares at a price of $43.78 on Oct 01. The insider now owns more than $2,626,740 worth of shares. Prior to that, CHIEF OPERATING OFFICER SANDERS COREY IAN went on to Sale 10,000 shares at $44.00 each on Sep 23. An amount of $440,000 was transacted.

Valuation Metrics

MGM Resorts International (MGM) has a trailing price-to-earnings (P/E) ratio of 21.70 for the broader industry and 31.09 for the sector. In the last five years, MGM Resorts International’s PE ratio has ranged between 92.58 and 1.803. The stock’s beta is 2.40. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 3.58, the price-to-book (PB) ratio at 3.81.

MGM Resorts International pays a $0.01 dividend per share annually. It offers a dividend yield of 0.02%. The company’s most recent quarterly dividend payment took place on Sep. 15, and it was $0.0025 a share, representing a up of 20.0 from $0.0020 last year. Its dividend has been increased for the last 2 consecutive years with the latest increase dividend $0.0005 reported on Wednesday August 4 2021. Dividends have grown by -64.20% each year over the last three years.

MGM Resorts International will next go ex-dividend on 9-Dec. The next dividend payment MGM Resorts International will make is expected to be $0.0025.

The quick ratio of MGM Resorts International for the three months ended June 29 was 3.20, and the current ratio was 3.20, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 2.05 and a total debt to equity ratio of 2.06 for the quarter ending June 29. On the profitability front, the trailing 12-month gross margin is 43.20% against a 5-year average of 39.9%. MGM Resorts International’s EBITDA margin for the year ending June 29 is -11.91%, while its operating margin for the same period stands at -12.90%. Its gross profit as reported stood at -$412.96 million compared to revenue of $5.16 billion.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, MGM Resorts International’s return on assets was -3.40%, compared to 3.2% over the last five years. In the past year, the return on investment has been -2.40%, and the 5-year average is 7.5%. Meanwhile, the return on equity (ROE) for the past 12 months has been -19.50% and the 5-year average holds at 13.7%. For the broader industry, ROE averaged 9.95 over the past year.

Earnings Surprise

The analyst consensus anticipated MGM Resorts International’s latest quarter earnings to come in at -$0.3 per share, but it turned out to be -$0.13, a 56.70% surprise. For the quarter, EBITDA amounted to $557.59 million. Shareholders own equity worth $481.88 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at MGM Resorts International (MGM) price momentum. RSI 9-day as of the close on 13 October was 72.36%, suggesting the stock is Overbought, with historical volatility in this time frame at 49.21%.

As of today, MGM’s price is $46.09 +7.86% or $3.51 from its 5-day moving average. MGM is currently trading +19.24% higher than its 20-day SMA and +21.28% higher than its 100-day SMA. However, the stock’s current price level is +30.31% above the SMA50 and +53.88% above the SMA200.

The stochastic %K and %D were 83.09% and 78.43%, respectively, and the average true range (ATR) was 1.62. With the 14-day stochastic at 86.56% and the average true range at 1.58, the RSI (14) stands at 68.31%. The stock has reached 1.59 on the 9-day MACD Oscillator while the 14-day reading was at 2.01.

Analyst Ratings

Credit Suisse upgraded MGM Resorts International (NYSE: MGM) to a an Outperform rating in its most recent analyst report. Previously, the stock was rated as a a Neutral.The consensus rating for MGM Resorts International (MGM) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell MGM, while 6 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 5 others rate it as a “buy”.

What is MGM’s price target for the next 12 months?

Analysts predict a range of price targets between $36.00 and $68.00, with a median target of $48.00. Taking a look at these predictions, the average price target given by analysts for MGM Resorts International (MGM) stock is $50.08.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img

Hot Topics

Related Videos

Related Videos

Related Articles

SPECIAL GIFT

WE HAVE A GIFT FOR YOU

Download Free eBook For

7 GROWTH STOCKS FOR 2021

592

100% free. stop anytime no spam